White & Case LLP advised Aramis Group on its initial public offering (IPO) on Euronext Paris. Villey Girard Grolleaud advised Stellantis, while Gide advised the founders of the company.
The prospectus received approval from the French Autorité des marchés financiers on June 7, 2021 and the offer amounts to €388 million, including a share capital increase of €250 million, which could be increased up to €446 million if the over-allotment option is exercised. Aramis Group’s IPO on the regulated market of Euronext Paris took place on June 18, 2021 (first trading date).
The net proceeds of the issue of the new shares will be used to finance the group’s development and growth strategy, focused on the acceleration of the growth of the volume of refurbished used cars in the group’s existing markets, the pursuit of a targeted external growth strategy based on identified targets, and the development of a used car offer and additional services in areas with high growth potential. The proceeds will also be allocated to the group’s refinancing.
Following the IPO, Stellantis will remain the company’s main shareholder with 60.56 percent of the share capital and voting rights. The founders, Nicolas Chartier and Guillaume Paoli, will hold 17.48 percent of the share capital and voting rights and have committed to a lock-up over their shares for four and-a-half years.
Aramis Group is a leading European B2C platform to acquire a used car online and brings together four brands: Aramisauto, Cardoen, Clicars and CarSupermarket in France, Belgium, Spain and the UK respectively. In 2020, Aramis Group had pro forma revenue of around €1.1 billion, sold 66,000 vehicles B2C and had 1,400 employees, 60 customer centres and three industrial refurbishing sites.
The White & Case team in Paris which advised Aramis on the transaction was led by partners Thomas Le Vert (Picture) and Séverin Robillard and included partners Max Turner, Estelle Philippi, Alexandre Jaurett, Raphaël Richard, Roman Picherack and Clara Hainsdorf, counsel Jean Paszkudzki and associates Boris Kreiss, Paul-Grégoire Longrois, Julien Etchegaray, Claire Sardet, Yasmine Sefraoui and Caroline Lyannaz.
The Villey Girard Grolleaud team advising Stellantis with Frédéric Grillier and Aubry Lémeret.
Allen & Overy, with Olivier Thebault, advised the syndicate of banks, led by Morgan Stanley and Société Générale which acted as Global Coordinators.
The Gide team included Jean-François Louit, François Bossé-Cohic, Henri Stiegler, Paul de France, Alexandre Bochu, and Foulques Delaporte.
Involved fees earner: Olivier Thébault – Allen & Overy; Alexandre Bochu – Gide Loyrette Nouel; François Bossé-Cohic – Gide Loyrette Nouel; Paul de France – Gide Loyrette Nouel; Foulques Delaporte – Gide Loyrette Nouel; Jean-François Louit – Gide Loyrette Nouel; Henri Stiegler – Gide Loyrette Nouel; Frédéric Grillier – Villey Girard Grolleaud; Aubry Lémeret – Villey Girard Grolleaud; Julien Etchegaray – White & Case; Clara Hainsdorf – White & Case; Alexandre Jaurett – White & Case; Boris Kreiss – White & Case; Thomas Le Vert – White & Case; Paul-Grégoire Longrois – White & Case; Caroline Lyannaz – White & Case; Jean Paszkudzki – White & Case; Estelle Philippi – White & Case; Roman Picherack – White & Case; Raphaël Richard – White & Case; Séverin Robillard – White & Case; Laure Sans – White & Case; Claire Sardet – White & Case; Yasmine Sefraoui – White & Case; Max Turner – White & Case;