King & Wood Mallesons advised Astorg Partners and the other sellers (including historical shareholder families) on the proposed sale of Gras Savoye to international brokerage company Willis.

In 2009, Astorg Partners acquired 33.3% of the capital of Gras Savoye alongside the family shareholder of the group, of the Management and Willis.

Willis has made a firm offer to acquire the remaining 70% that it does not currently own of Gras Savoye, the leading French insurance broker. The transaction is expected to close on or around December 31, 2015, subject to customary regulatory consents and approvals, and acceptance of the firm offer by Gras Savoye's shareholders, which can only occur after consultation with Gras Savoye's workers' councils.

Founded in 1907, Gras Savoye is the leading insurance broker in France and has a consolidated turnover of €370 million.

Astorg is an independent private equity fund management company, specialising in European mid-market buyouts, with total funds under management of over €2 billion. Astorg seeks to partner with successful and entrepreneurial management teams, to acquire businesses - very often family-owned - with attractive growth prospects, which Astorg supports through the provision of experienced governance and adequate capital.

The KWM team was composed of Corporate partner Christophe Digoy, associates Thomas Dupont-Sentilles and Mathieu Terrisse; as well as Tax partner Fanny Combourieu and counsel Gwenael Kropfinger.