Eight Advisory participates in two transactions for Galeries Lafayette and Colas

12 September 2017

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Eight Advisory, a market leader in the fields of Corporate Transactions, Restructuring and Financial Transformation, is proud to have contributed to the success of two recent operations for Galeries Lafayette and Colas.

The Galeries Lafayette group called on Eight Advisory to conduct financial due diligence for the acquisition of a 51% stake in La Redoute. This transaction is subject to approval from the French competition authority, the Autorité de la concurrence.

Since 2014, the emblematic operator in the mail order sector, recognised for the quality of its catalogue, has undergone fundamental change, becoming 100% digital. This transformation has met with great success, enabling the company to turn its performance around. The market leader in France in the e-commerce fashion and home accessories market, La Redoute has re-established its growth trajectory.

This transaction will enable Galeries Lafayette to accelerate its digital transformation and create a multi-channel group.

The Eight Advisory team for this transaction consisted of Florence Khayat (Partner), Eric Demuyt (Partner), Shafik Hosni (Director), Elena Kotova (Senior Manager), Thomas Mzali (Senior) and Armand Mingasson (Analyst).

Additionally, personnel from the Valuation Department of Eight Advisory acted as consultant to Colas, a subsidiary of the Bouygues group and global market leader in the construction and maintenance of transport infrastructure, with a view to acquiring the Canadian group, Miller McAsphalt. A memorandum of understanding has been signed by the two companies.

Miller McAsphalt is a major player in the roadworks and bitumen distribution sector in Canada. Founded in 1970, this family-owned group achieves average revenue of 1.3bn Canadian dollars (over €873m) and has 3,300 employees.

For Colas, this transaction is an extension of its growth strategy in North America, which it believes offers solid growth potential. The acquisition is the third and the largest performed by the group since the beginning of 2017.

The Eight Advisory team for this transaction consisted of Alexis Karklins-Marchay (Partner), Sophie Carles (Director) and Fiona Baruchel (Manager).