Automotive engineering group Segula has obtained approval of two accelerated safeguard plans from the Nanterre Commercial Court on 12 February 2026. These decisions conclude a restructuring process involving approximately €500 million in debt, following several amicable proceedings to address difficulties initiated by the group's companies.
Ashurst advised the senior lender pool in respect of both a state-guaranteed loan (PGE) and a senior term loan. The restructuring involves the group's two holding companies, Segula Holding and Segula Technologies, as well as their subsidiaries.
Following this restructuring, Eiffel Investment Group and Eurazeo will take control of the group's share capital during 2026.
In Paris, the Ashurst team was led by Noam Ankri and Eric Fiszelson (partners), assisted by Astrid Hubert-Benoist (counsel) along with Victoire Gabai and Dorélien Blin (associates) in restructuring, Audrey Lesage (counsel) and Louis Regnard (associate) in finance, and, Christophe Lemaire (partner) and Guillaume Vatin (senior associate) in competition law, Aurélien Fournier (counsel) in Global Markets, Morgan Vail (partner) and Théo Savonet (associate) in tax law.
In Munich, the team included Karsten Raupach (partner) in restructuring and Friedrich Schaudinn (partner) in finance.
In Frankfurt, Franziska Kramer (counsel) handled restructuring matters and Sascha Masuch (associate) handled finance matters.
