A&O Shearman and Kirkland & Ellis advised on OLX Group’s €1.1 billion acquisition of La Centrale from Providence Equity Partners.

OLX operates fast-growing and highly profitable online marketplaces for motors, real estate, jobs, and goods with 29 million monthly users in eight countries, primarily in Central and Eastern Europe. La Centrale is recognized as France’s most specialized autos platform, with a strong history of data-led growth and innovation.

By combining two proven leaders in classifieds, the deal strengthens OLX’s European autos portfolio in a compelling and attractive market while bringing on a strong leadership team to help build Prosus’s ambition to become the leading European ecommerce ecosystem.

Closing is expected by year-end, subject to a customary employee consultation process.

A&O Shearman advised OLX Group, a global online classifieds leader wholly-owned by Prosus, on its agreement to acquire La Centrale, a leading French autos classifieds platform, from Providence Equity Partners L.L.C. for EUR1.1bn. The A&O Shearman team was led by Partner Alexandre Ancel, supported by Counsel Julie Parent, Associates Astrid Achard, Fatima Ahamada and Yasmine Benhmida on corporate/M&A aspects.

The team also included Partner Driss Bererhi and Senior Associate Aïda Lamrani Karim on financing aspects; Partner Romaric Lazerges and Associate Vianney Leroux on public law aspects; Partner Claire Toumieux and Associates Alexandra Pawlowski and Diane Fass on employment law aspects; Partner Florence Ninane, Senior Associate Clémence d’Almeida, and Associate Victoire Sipp on antitrust aspects; Partner Charles Tuffreau and consultant Marianne Delassaussé on intellectual property aspects; Partner Laurie-Anne Ancenys, Associate Dalila Korchane, and consultant Chama Laraki on IT/data aspects; Partners Erwan Poisson and Dan Benguigui, Senior Associate Charly Latil, and Associates Luna Tereszkiewicz, Louis Gaddi, and Tony Ligas Garcia on litigation aspects; and Partner Xavier Jancène and Associate Valentine Henry on real estate aspects.

Kirkland & Ellis is advising Providence Equity Partners as it enters into exclusive negotiations to sell La Centrale group, France’s leading auto classifieds platform, to OLX Group, a global online classifieds leader wholly-owned by Prosus. The all-cash transaction values La Centrale at €1.1 billion. Closing is expected by year-end, subject to a customary employee consultation process. The Kirkland team includes corporate lawyers Vincent Ponsonnaille, Emmanuel Enrici and François Capoul; and tax lawyer Nadine Gelli.