News 05 Jun. 2014

Curtis Counsels Executives and Employees in France's Largest Sponsorless MBO

Paris, June 5, 2014 - Curtis, Mallet-Prevost, Colt & Mosle LLP advised the managers and employees of La Redoute and Relais Colis in the largest management and employee-led sponsorless buy-out completed in France to date.

Kering, a world leader in luxury apparel and accessories, sold La Redoute, its mail order subsidiary, and Relais Colis, its delivery service, to their two managers, Nathalie Balla and Eric Courteille, in a management buyout (MBO). The agreement also grants a large equity stake to employees.

Ms. Balla, chairman and CEO of La Redoute, and Mr. Courteille, chief administrative officer of Redcats, the parent company of La Redoute, will own 51% of the new company as co-chairs. The remaining 49% will be held by the employees.

Kering announced the closure of the sale on June 2 in accordance with the conditions specified in the sale agreement that was reached after Kering entered into exclusive negotiations for a management buy-out last December. La Redoute is the largest mail order company in France. Redcats is the world's 3rd largest home shopping organization.

Curtis advised Ms. Balla and Mr. Courteille and all participating employees with a team led by partners Henri Pieyre de Mandiargues and Carole Degonse and associates Félix Huon and Marie-Muriel Barthelet.

Curtis, Mallet-Prevost, Colt & Mosle LLP is a leading international law firm providing a broad range of services to clients around the world. Curtis has 16 offices in the United States, Europe, the Middle East and Central Asia. The firm's international orientation has been a hallmark of its practice for nearly two centuries. For more information about Curtis, please visit or follow Curtis on Twitter ( and Facebook (

The Curtis Paris office was founded in 1973 and offers some two dozen attorneys counseling clients in areas such as mergers and acquisitions, private equity, banking and finance, tax, litigation and international arbitration. Curtis advises listed and privately-held mid-cap companies and investment funds on the full range of corporate activities, including LBOs, IPOs, venture capital transactions and management incentive packages.