Ashurst Perkins Coie Advises Certares on Voyageurs du Monde Capital Reorganisation and Proposed Take‑private Offer

"Ashurst Perkins Coie advised Certares on the capital reorganisation of Voyageurs du Monde and a subsequent proposed public offer aimed at delisting. The plan foresees Avantage increasing its stake from 62.24% to 90.52% through contributions by major shareholders (including Certares) and market purchases, followed in H2 2026 by an offer on remaining shares and convertible bonds."

Ashurst Perkins Coie advised Certares in connection with the capital reorganisation of Voyageurs du Monde and the subsequent proposed public offer. The transaction is part of a project to take Voyageurs du Monde, a bespoke travel operator listed on Euronext Growth for around twenty years, off the market. The plan is structured in two phases. In the first phase, Avantage, an unlisted entity that already holds 62.24% of Voyageurs du Monde’s capital, will see its stake increased to 90.52% through the contribution of shares by its principal shareholders, including Certares, together with acquisitions on the market. In the second phase, scheduled for the second half of 2026, Avantage will launch a public offer for the remaining shares and outstanding convertible bonds at unit prices of €180 and €182.52 respectively, with the objective of delisting. The completion of the transaction would be accompanied by the establishment of a liquidity mechanism for the company’s founders and certain investors. Ashurst Perkins Coie represented Certares with a team composed by: François Hellot (partner), assisted by Gaspard Bastien-Thiry (counsel) and Victoire Gabai (associate) in corporate matters, and by Emmanuelle Pontnau-Faure (partner) and Sabrina Ben Hassou (associate) in tax matters, in Paris.

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Ashurst Perkins Coie Advises Certares on Voyageurs du Monde Capital Reorganisation and Proposed Take‑private Offer

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Ashurst Perkins Coie Advises Certares on Voyageurs du Monde Capital Reorganisation and Proposed Take‑private Offer

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