Ashurst advised Charterhouse Poppy II, Charterhouse Poppy IV, Charterhouse Poppy VI, Société de Restauration 2 and Société de Restauration 4, entities controlled by funds managed by Charterhouse and Chequers (the "Sellers") on the sale of 16.44 million shares of Elior, listed on Euronext Paris, representing approximately 10 per cent of the share capital of the company to institutional investors through an accelerated bookbuilding process. The proceeds from the transaction amount to approximately €255 million.

Following the placement, the Sellers will keep together approximately 51.4 million Elior shares, corresponding to 31.25% of Elior share capital.

Deutsche Bank and J.P. Morgan acted as joint bookrunners on the sale.

The Ashurst corporate team was led by Yann Gozal, partner, and Margaux Bognon-Küss, associate and, on US law aspects, by Jennifer Schneck, partner, and Tara Waters, associate.