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Allen & Overy advises Eurazeo on the sale of its stake in Planet, integrated payments leader

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Castagnede Marc
Marc Castagnede

Partner

Paris

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Valois Guillaume
Guillaume Valois

Partner

Paris

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Del Valle Charles-Antoine
Charles Del Valle

Counsel

Paris

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Image of Geraldine Lezmi
Geraldine Lezmi

Senior Associate

Paris

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Lloyd Stephen
Stephen Lloyd

Partner

London

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Dinamani Karan
Karan Dinamani

Partner

London

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Funder James
James Funder

Senior Associate

London

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Amina Elothmani

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Paris

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04 June 2021

Allen & Overy advised the leading global investment group Eurazeo in the context of an agreement with Advent International for the sale of its stake in integrated payments leader, Planet, worth EUR1.8 billion. As part of the transaction Eurazeo will reinvest and co-control the Company with Advent International.

With this operation, Eurazeo and its affiliates show a total valuation of 2.5x their original investment and approximately 19% IRR.

Planet is a world-class integrated payments business delivering innovative products and digital services across Retail, Hospitality, Food and Beverage, Parking and Financial sectors. The Company provides integrated digital payment services on a unique single platform that offers acquiring, processing, digital wallets, VAT refund and currency conversion services. By partnering with Planet, merchants enhance their customers’ omnichannel experience, while generating additional revenue from Planet’s value-added payments services.

Under Eurazeo and Advent International co-ownership, the Company will pursue its development through a combination of organic growth and acquisitions.

This transaction involved lawyers from A&O’s Paris and London offices, with a cross-border team led by Corporate partner Marc Castagnede and including partner Guillaume Valois and counsel Charles del Valle on tax aspects, senior associate Geraldine Lezmi, associate Constance Frayssineau and trainee Ghita Guessous on financing aspects, partner Stephen Lloyd, senior associate Monika Przygoda, associates Lauren Mawhinney and Soyeon Lim and trainees Harriet Lister and Wesley Zhang on corporate aspects, and partner Karan Dinamani and senior associate James Funder on equity aspects.