ADVANT Altana advises Covéa in connection with its partnership with Groupe Faubourg

Covéa and Groupe Faubourg join forces to accelerate sustainable car repair through a strategic equity and industrial partnership.

ADVANT Altana advised Covéa in the creation, together with Groupe Faubourg, of a joint venture aimed at developing a leading marketplace in France for automotive spare parts for repair professionals.

The new marketplace will leverage the longstanding expertise of Groupe Faubourg’s existing platform, Aniel Marketplace (France’s leading independent automotive spare parts marketplace), Covéa’s leadership in motor insurance in France, and the support of all stakeholders in the automotive industry committed to more cost-effective and environmentally friendly repairs.

This partnership will enable the doubling of reused parts usage for the repair of vehicles insured by Covéa’s brands by 2030, as well as the further development of the B2B automotive spare parts marketplace built since 2019 by Aniel Marketplace.

ADVANT Altana advised Covéa with partner Gilles Gaillard and Alexandra Ferrier on the corporate aspects of the transaction. Cyril Grimaldi advised on contractual and real estate issues.