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News Mar 15, 2016

Shearman & Sterling Advises a Pool of Banks on the Financing of the Acquisition of B&B Hotels

Shearman & Sterling advised BNP Paribas, Crédit Agricole Corporate and Investment Bank, Crédit Suisse International, Natixis and Société Générale, as mandated arrangers and underwriters, on the €450 million senior financing for the acquisition of French hotel group B&B Hotels by private equity firm PAI Partners. B&B Hotels was acquired by PAI Partners from its current owners, private equity firm Carlyle and certain managers of the group.

The financing will allow B&B Hotels to continue its expansion. This is the fourth leveraged buyout of the company, pricing it at a total of €800 million.

Shearman & Sterling’s team was led by counsel Frédéric Guilloux and assisted by associates Laurent Bonnet and Bruno Valenti (all Paris-Finance), as well as partners Winfried Carli (Frankfurt-Finance) and Peter Hayes (London-Finance).  Counsel Valerio Fontanesi and associates Andrea Giaretta, Gaetano Petroni (all Milan-Finance), Matthias Weissinger, Andreas Breu (both Frankfurt-Finance), Shane Burke, Tom Berisford and Anna Shelton (all London-Finance) also worked on the transaction.