Freshfields advises Blackstone and Goldman Sachs Alternatives on sale of Prima to AXA

Global law firm Freshfields is advising Blackstone and Goldman Sachs Alternatives on an agreement for the sale of a 51 per cent stake in Italian group Prima, the leading direct insurance player in Italy, for consideration of Euro 0.5 billion.

Headquartered in Milan, Prima operates as a Managing General Agent and employs over 1100 professionals. Since its launch in 2015, the company has emerged as the leader in the direct distribution channel in Italy, achieving a top position with 10 per cent overall market share in retail motor.

Freshfields has advised Blackstone and Goldman Sachs Alternatives in relation to their investment in Prima since 2020.

Completion of the transaction is subject to customary closing conditions and regulatory approvals, and is expected to take place by the end of 2025.

The Freshfields team advising Blackstone and the selling shareholders is led by partner James Scott, who leads Freshfields’ UK private equity team, counsel Luca Sponziello and senior associate Chris Yarrow.

Partner Paul van den Berg and principal associate Felix Roscam Abbing advised on antitrust and foreign direct investment matters. Partner James Smethurst advised on financial services regulatory aspects, and partner Giuseppe Curtò advised on risk and compliance matters.