Shearman & Sterling advised Ares Management Limited as arranger, and funds managed by Ares Management Limited as subscribers, on a €40 million unitranche bond financing provided for refinancing the indebtedness of the Frial Group, a European leader in premium frozen meals. The Frial Group was acquired in 2008 by Alpha Investment Funds to develop the company internationally.

The Shearman & Sterling team was led by partner Arnaud Fromion (Paris-Finance) and included associates Adrien Paturaud and Laurent Bonnet (both Paris-Finance).