Banks circle Gras Savoye deal

Four banks are working to finance the buy-out of French insurance company Gras Savoye. The financing will be about Eu200m to Eu300m, including a mezzanine piece. The deal has been in the works since July.

  • 16 Oct 2009

French private equity firm Astorg Partners is reportedly looking to buy a stake in the firm, as US insurance broker Willis Group Holdings reduces its stake.

BNP Paribas, Calyon, Société Générale and possibly HSBC are working on the deal, according to a banker close to the transaction.

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2 Goldman Sachs 1,798 4 14.88
3 BNP Paribas 1,434 4 11.87
4 Barclays 1,097 2 9.08
5 Morgan Stanley 1,094 2 9.06

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5 Barclays 13,499.53 45 7.13%