White & Case Advises Ebro Foods on Entering Exclusive Negotiations for Disposal of Panzani
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Global law firm White & Case LLP has advised leading Spanish agri-food group Ebro Foods S.A. (Ebro Foods) on its entry into exclusive negotiations with CVC Capital Partners VIII for the proposed disposal of the Panzani® dry pasta, couscous, sauces and semolina business.
The proposed transaction, announced by Ebro Foods on July 26, 2021, remains subject to French workers’ representatives’ information and consultation, customary regulatory approvals and the approval of an Ebro Foods General Shareholders Meeting. It is expected to complete before the end of 2021 and will be preceded by the carve-out of the fresh pasta and rice activities, including the flagship brands Lustucru Selection and Taureau Ailé, which will remain within Ebro Foods.
The White & Case team which advised on the transaction was led by partner Nathalie Nègre-Eveillard (Paris) and included partners Yann Utzschneider, Clara Hainsdorf, Estelle Philippi, Alexandre Jaurett (all Paris) and Juan-Manuel de Remedios (Madrid), counsel Sophie Nguyen, Mickael Rivollier and Orion Berg (all Paris) and associates Baptiste Fondeur, Amandine Grima, Camille Lehuby, Anne Sauvebois-Brunel, Cécilia Grosjean and Michel Courtois (all Paris).
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