France-based private investment company Ardian is in exclusive talks to sell SIACI Saint Honoré SAS to the Paris-based insurance broker's management and European capital investment company Charterhouse.

Under the transaction, Edmond de Rothschild will offload its stake in SIACI Saint Honoré. The insurance broker's management team will own a majority stake in the business, and Charterhouse will be a main shareholder.

The transaction is subject to consideration by the works council of SIACI Saint Honoré and the signing of a definitive agreement, as well as to the approval of the competition authorities. The transaction is expected to close in September.

ING and Nomura were arrangers and bookrunners for the financing of the acquisition. The Mayer Brown team that advised Charterhouse with regard to the due diligence and tax structuring aspects includes Laurent Borey, Benjamin Homo and Nicolas Danan.