A&O Shearman advises Crédit Mutuel Equity on the proposed tender offer for Voyageurs du Monde

This transaction stems from an agreement between the founding shareholders and institutional investors, including Crédit Mutuel Equity, to consolidate their respective holdings within Avantage, the holding company and majority shareholder of Voyageurs du Monde. As part of this reorganization, Crédit Mutuel Equity will contribute all of its Voyageurs du Monde shares to Avantage.

The simplified tender offer will target Voyageurs du Monde shares not already held by Avantage at a price of EUR180 per share, as well as the company’s convertible bonds at a price of EUR182.52 per bond.

The offer is expected to be filed with the French Financial Markets Authority (AMF) in early September 2026.

“We are delighted to have advised Crédit Mutuel Equity on this landmark transaction involving Voyageurs du Monde's shareholding structure. This deal highlights our strong capabilities in advising investors on complex capital reorganizations and public market transactions,” said Romy Richter, partner at A&O Shearman.

The A&O Shearman Paris team was composed of partners Romy Richter and Frédéric Moreau, peerpoint consultant Catherine Maison Blanche and senior associate Antoine Messent.