Franklin has advised IBL Together Group in its takeover of Run Market Partenaire Intermarché following a debt restructuring program

IBL Together Group took a controlling stake in Run Market Partenaire Intermarché following a debt restructuring program approved by the Saint Denis Mixed Commercial Tribunal on Réunion Island on 24^th May 2023 and an unconditional decision by the Competition Authorities on 30^th June 2023. The General Meeting of Shareholders of Make Distribution unanimously approved the IBL takeover bid on 3^rd August 2023 taking a 51% stake. Shareholders consequently confirmed their mutual commitments as well as those taken through memorandums of understanding signed with banks, suppliers and the tax and social security bodies under the aegis of the Interministerial Industrial Restructuring Commission.

In a joint press release published on 7^th August 2023, Arnaud Lagesse, Group CEO of IBL Together, Christian de la Girauday, CEO of VBP (SAB Group), and Aldo Létimier, CEO of Run Market, declared a “brand-new era for Run Market: that of a historical, balanced, supporting and respectful shareholding partnership, now entirely dedicated to bringing a new lease of life to our firm, whilst continuing to focus on all interests and stakeholders present”.

IBL Together Group is being advised by Numa Rengot, partner head of Restructuring at Franklin, supported by a team composed of:

• Pierre Dupuys, Marouan Fawzi and Emilie Gassier, associates, and Antoine Fouassier, Of Counsel, for corporate and restructuring aspects,
• Lionel Lesur, Partner, and Victoria Eppendahl, associate, for competition law aspects,
• Myriam de Gaudusson, Partner, and Amélie Nisio, associate, for labor law aspects,
• Jacques Mestoudjian, Partner, and Rudy Marouani, Of Counsel, for tax aspects,
• François Verdot, Partner, and Vincent Martinet, associate, for real estate aspects,
• Jérôme Michel, Partner, and Edouard Olson, associate, for public law aspects.

IBL Together Group is also assisted by Advance Capital (Henri Calef, partner, Pauline Oriot, director, Philippe Besse, manager, and Sarah Calef) acting as financial advisor.

SAB is being advised by lawyers Jean-Francis Cheung-Ah-Seung and Benoît Huet.

Geprocor is being advised by Sullivan & Cromwell alongside Nicolas Karmin, Partner, and Brieuc Apffel, associate.

The banks are being advised by De Pardieu Brocas Mafféi alongside Segolène Coiffet and Corentin Coatalem, Partners, and Aude Fourgassié and Guillaume Petit, associates.

The lessors are being advised by De Pardieu Brocas Mafféi alongside Paul Talbourdet, Partner.