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02 Jul 2026

A&O Shearman advises Prosus on investment in Alan

"A&O Shearman advised Prosus as lead investor on a €480m funding round for health insurer Alan, with Prosus contributing €400m and valuing the company at €5.5bn. Osler, Hoskin & Harcourt LLP provided Canadian due diligence support and Orrick advised Alan. Proceeds will fund Alan’s international expansion and technology deployment; the transaction remains subject to French regulatory approvals."

A&O Shearman advised Prosus as lead investor in the transaction; Osler, Hoskin & Harcourt LLP provided Canadian due diligence support; and Orrick advised Alan. A&O Shearman acted for Prosus in connection with a €480 million fundraising completed by Alan, the European health insurance provider, in which Prosus—listed on Euronext Amsterdam—invested €400 million as part of the round. The transaction values Alan at €5.5 billion and was carried out alongside existing and new investors. The investment strengthens Prosus’s exposure to the healthtech sector amid rapid transformation of healthcare services driven by artificial intelligence. Relying on a platform that combines insurance, prevention and access to care, Prosus intends to support the development of next-generation health solutions and meet growing demand for digital services in the medical and insurance markets. The funds will notably support Alan’s international expansion and accelerate deployment of its technological solutions. The closing of the transaction remains subject to obtaining French regulatory approvals. Alan was founded in 2016 and already has a presence in several jurisdictions. A&O Shearman represented Prosus with a team composed by: Alexandre Ancel (partner), Julie Parent (counsel), Astrid Achard-Hoffman (senior associate) and Jérôme Païs (associate) on corporate M&A; Florence Ninane (partner), Roxane Hicheri (counsel) and Victoire Sipp (associate) on competition law; Claire Toumieux (partner), Naomi-Lan Leroy (associate) and Marie Chauvat (associate) on employment law; Dan Benguigui (partner), Charly Latil (counsel) and Pedro-Alejandro Hejoaka (associate) on litigation; Brice Henry (partner), Mia Dassas (partner), Maxence Kieken (associate) and Marina Valdez (associate) on financial regulation and asset management; Laurie-Anne Ancenys (partner) and Juliette Mazilier (senior associate) on IT/Data; Charles Tuffreau (partner), Elise Romelly (senior associate) and Léa Richier (associate) on intellectual property; and Romaric Lazerges (partner) and Vianney Leroux (senior associate) on public law. A&O Shearman’s offices in Spain, Luxembourg and Belgium also intervened. Osler, Hoskin & Harcourt LLP provided Canadian due diligence support. Orrick advised Alan on the legal aspects of the transaction.
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