Ashurst advised the Winoa group's lenders, a world leading steel abrasive company, on its acquisition from existing majority shareholder LBO France.

The acquisition enabled a recapitalisation of the group through a significant reduction in its debt and the provision of new money. Bennett, Davidson Kempner and KKR became shareholders with a 85 per cent stake.

Ashurst's team, led by Jean-Pierre Farges and Diane Sénéchal, partners, was comprised of Amanda Bevan and Marie Roche advising on financial aspects, Guy Benda, partner, supported by Joel Corcessin, advising on corporate aspects, and Nadine Gelli, partner, supported by Sonia Bouaffassa, advising on tax law aspects.

KKR was advised by White & Case LLP.

LBO France was advised by Mayer Brown.

Winoa was advised by Bredin Prat.