Allen & Overy advises Crédit Mutuel Equity on its support of the merger project between Transition and Arverne Group

Transition SA, Special Purpose Acquisition Company (SPAC) listed on Euronext Paris (“Transition”), and Arverne Group (“Arverne”) have entered into a merger agreement with a view to forming a key player in the sector of decarbonization and subsurface renewable energy production in France and Europe.

Transition and Arverne have received subscription commitments from a select group of investors wishing to support the new merged entity over the long term, including Crédit Mutuel Equity and ADEME Investissement.

Crédit Mutuel Equity and ADEME Investissement are participating in a secured funding round of EUR130 million alongside other key industrial investors.

The Allen & Overy team was composed of partners Romy Richter and Olivier Thébault on corporate aspects.