Weber Investissements and Weber Holding Sell La Financière de l’Echiquier Shares to Primonial

Cleary Gottlieb represented Weber Investissements SAS and Weber Holding SAS in connection with the financing aspects of the sale of La Financière de l’Echiquier (LFDE).

On March 12, 2019, Weber Investissements and Weber Holding entered into a share purchase agreement with New Primonial Holding (Primonial) in relation to the sale of the remaining 60% of the share capital and voting rights of LFDE that the clients held together with certain members of the management.

The transaction follows the sale on February 28, 2018, of 40% of the share capital and voting rights of LFDE by the clients to Primonial.

In both transactions, Cleary advised Weber Investissements and Weber Holding on the financing aspects, especially in relation to the certainty of funds of Primonial’s financing and its undertakings in the share purchase agreements in order to reduce the consequences of the financing condition precedent provided in these agreements.

Founded in 1991, LFDE is one of the foremost independent asset management companies in France. With more than €10 billion assets under management, LFDE manage a select range of mutual funds that invest in the major equity markets, corporate bonds, and convertible bonds for both private and institutional investors.