Groupe Bruxelles Lambert (GBL)’s Acquisition Of A Majority Stake In Affidea

Kirkland & Ellis, EY and Gianni & Origoni advised Groupe Bruxelles Lambert (GBL) on the transaction. Latham & Watkins advised B-Flexion on the sale.

Groupe Bruxelles Lambert (“GBL”) has signed definitive agreements to acquire a majority stake in Affidea, the leading provider of healthcare diagnostic services in Europe, from B-FLEXION. GBL will invest up to EUR 1.0 billion of equity into the transaction.

Affidea’s majority shareholder B-FLEXION will fully exit its stake, and management will re-invest alongside GBL.

This investment in a defensive sector provides both resilience and portfolio diversification.

Affidea is the leading European diagnostic imaging player, with 320 centres operating across 15 countries.

The transaction is expected to be completed in the third quarter of 2022.

Gianni & Origoni advised Groupe Bruxelles Lambert (GBL) on the deal with a team led by M&A partner Stefano Bucci (Picture) assisted by counsel Federico Botta for due diligence activities; partner Antonello Lirosi and senior associate Carmine Pepe provided assistance on Golden Power aspects.

The Kirkland team was led by corporate partners Adrian Maguire and Francesca Harris and associates Jack Evans, Luke Forryan and Katy Henman; debt finance partners Evgeny Zborovsky and Sam Sherwood; tax partners Peter Abbott and Rob Sharpe and antitrust partners Thomas Wilson and Philipp Gnatzy.

The Latham team was led by London corporate partner Mike Turner, with associates Katie Kaplucha, Daria Les, and Hadi Najem. Advice was also provided on antitrust matters by London partner Jonathan Parker, with associates Anuj Ghai, James Mathieson, and Stephanie Adams; on employment matters by London partner Sarah Gadd; on finance matters by London partner Fergus O’Domhnaill, with associate Lewis Atherton; and on tax matters by London partner Karl Mah, with counsel James Leslie and associate Sam Duncan.

Involved fees earner: Federico Botta – Gianni & Origoni; Stefano Bucci – Gianni & Origoni; Antonello Lirosi – Gianni & Origoni; Carmine Pepe – Gianni & Origoni; Peter Abbott – Kirkland & Ellis; Jack Evans – Kirkland & Ellis; Luke Forryan – Kirkland & Ellis; Philipp Gnatzy – Kirkland & Ellis; Francesca Harris – Kirkland & Ellis; Katy Henman – Kirkland & Ellis; Adrian Maguire – Kirkland & Ellis; Rob Sharpe – Kirkland & Ellis; Sam Sherwood – Kirkland & Ellis; Thomas Wilson – Kirkland & Ellis; Evgeny Zborovsky – Kirkland & Ellis; Stephanie Adams – Latham & Watkins; Lewis Atherton – Latham & Watkins; Sam Duncan – Latham & Watkins; Sarah Gadd – Latham & Watkins; Anuj Ghai – Latham & Watkins; Katie Kaplucha – Latham & Watkins; Daria Les – Latham & Watkins; James Leslie – Latham & Watkins; Karl Mah – Latham & Watkins; James Mathieson – Latham & Watkins; Hadi Najem – Latham & Watkins; Fergus O’Domhnaill – Latham & Watkins; Jonathan Parker – Latham & Watkins; Mike Turner – Latham & Watkins;

Law Firms: Gianni & Origoni; Kirkland & Ellis; Latham & Watkins;

Clients: B-Flexion; Groupe Bruxelles Lambert;