Norton Rose Fulbright advises Crédit Agricole Assurances on its entry into exclusive negotiations with AnaCap in relation to the proposed joint acquisition with LCL of the Milleis Group

Global law firm Norton Rose Fulbright has advised Crédit Agricole Assurances which, alongside LCL, has entered into exclusive negotiations with AnaCap, a private equity fund investing in the European mid-market segment, with a view to jointly acquiring the Milleis Group, a long-standing independent player in private banking and wealth management in France.

This project will be subject to consultation with the employee representative bodies of the various entities concerned with a view to the possible completion of the transaction in the first half of 2026. It would also remain subject to the usual conditions precedents, including obtaining regulatory approvals.

The Paris-based Norton Rose Fulbright team advising Crédit Agricole Assurances on this transaction was led by Bénédicte Denis, partner and Head of the Paris Corporate M&A department, and Jean-Claude Rivalland, partner in corporate M&A. Antoine Colonna, partner and Head of the EMEA Tax practice, Laure Joncour, partner in employment law, and Marta Giner Asins, partner in competition law, also contributed to the transaction.

The team also included Marie-Adélaïde de Fleurieu, counsel, and Inès Azouaou on the corporate side; Simon Lazzari and Pierre Bourcier de Saint-Chaffray on regulatory aspects; Alexandra Bloch-Manikow on tax law; Marie-Thérèse Eugenio, counsel on employment law; Constance Chevreste on competition law; and Geoffroy Coulouvrat, counsel on technology and intellectual property law.