Ashurst has advised Charterhouse and Chequers, the majority shareholders of the Elior catering and concession catering group, on its initial public offering (IPO) on the Paris Euronext market which is planned for the June 11, 2014.

The prospectus of the transaction, initiated by entities controlled by Charterhouse, Chequers and Robert Zolade, was approved by Autorité des marchés financiers on May 27th. The maximum amount of the offer is approximately €1.1 billion.

Elior is a global leader in the catering and concession catering industries, serving 3.7 million clients every day in 17,500 restaurants and outposts around the world. The group employs close to 105,000 people in 13 countries across Europe , Latin and North America. Elior released annual turnover figures of over 5 billion euros for the year ending on the 30th September 2013.

The company was listed between 2000 and 2006, until taken private as part of its LBO. Elior has since followed a successful external growth strategy with the support of Charterhouse and Chequers. The banking syndicate is led by Deutsche Bank, JP Morgan, Crédit Agricole CIB and HSBC.

The Paris Ashurst team is headed by partners Yann Gozal, Nicolas Barberis and Guy Benda, assisted by counsel Joël Corcessin and associate Julien Rebibo.