Pierre-Louis Cléro

  • Partner
  • Epierre-louis.clero@lw.com
  • 45, rue Saint-Dominique
  • Paris 75007
  • France
  • T +


Pierre-Louis Cléro is a partner and Local Chair of Latham & Watkins' Corporate Department in Paris. Mr. Cléro’s practice focuses on complex international mergers and acquisitions, representing corporate buyers and sellers in a wide variety of strategic transactions.

His corporate law experience encompasses joint ventures, stock exchange-related transactions, and general corporate and commercial law advice.


Mr. Cléro is ranked in the Top 40 lawyers of the CAC 40 by Forbes France 2021.

Mr. Cléro is named in The Legal 500 EMEA 2020.

Mr. Cléro is recognized as a key figure in his practice by The Legal 500 EMEA 2019.


Mr. Cléro’s matters include representing:

  • Dragoneer in France’s largest independent e-commerce site ManoMano's US$355 Million fundraising
  • Carrefour in its minority investment in Cajoo, a French specialist in the express delivery of everyday shopping
  • Coatue Management in its investment in Alan, the leading independent digital health insurance provider in France
  • Tencent in its investment in DONTNOD Entertainment, an independent French studio that creates and develops video games
  • Carrefour in its sale of a majority stake in its fintech Market Pay to AnaCap
  • Tencent in its minority investment in Voodoo, the world leader in hyper-casual games
  • The founders and TA Associates in the investment of Antin Infrastructure Partners in Babilou, a leading private network of daycare facilities and Early Years Education in Europe
  • Mainstay Medical, a European medical device company focused on bringing to market an innovative implantable neurostimulation system, in the delisting of its shares from Euronext Paris
  • L’Oréal in its sale of the Roger & Gallet brand, a French firm specialized in cosmetics and fragrance
  • Atos in its sale of Worldline shares for an amount of €1.23 billion, through a placement to qualified investors by way of ABB and transfer to the Atos UK 2019 Pension Scheme
  • Atos in the context of the spin-off of 23.4% of the share capital of Worldline for a total consideration of €2.34 billion
  • Shandong Ruyi Investment Holding in its acquisition of a controlling stake in Bally International, a Switzerland-based designer and manufacturer of footwear and other related products
  • Worldline in its €2.3 billion proposed acquisition of SIX Payment Services from SIX
  • Siemens AG on the combination of its mobility business, including its rail traction drive business, in a merger of equals with Alstom SA, representing a combined revenue of €15.3 billion
  • Euronews in its joint venture with Comcast/NBC and investment by Comcast/NBC in Euronews
  • Lagardère Active in its investment and joint venture with the market place Shopcade
  • Shandong Ruyi Group, one of the largest textile manufacturers in China, in its acquisition of SMCP Group (Sandro, Maje, Claudie Pierlot), a leading global company in the accessible luxury sector, from KKR and other investors and its subsequent IPO on the regulated market of Euronext Paris
  • Galeries Lafayette group in its acquisition of La Redoute
  • The consortium led by Beijing Sanyuan Foods Co., Ltd. and Fosun Group in its acquisition of St Hubert
  • Vipshop International Holding Ltd. in its book building of ShowRoomPrivé shares
  • Alcatel-Lucent Board of Directors in the combination between Alcatel-Lucent and Nokia
  • Emerson Electric in the sale of Leroy-Somer and Control Techniques, a manufacturer and supplier of alternators, drives, and motors, to Nidec

Thought Leadership

  • Foreign Investments in France: New Regime, Effective April 1, 2020 -  March 31, 2020
  • Impact of COVID-19 on French M&A Transactions -  March 25, 2020
  • 4 Key Reasons Why European P2P Deals Fail – and How Private Equity Deal Teams Can Avoid Them -  October 15, 2019
  • Outbound Chinese Investment into the EU: What You Need to Know about Regulatory Roadblocks -  March 23, 2017

Mr. Cléro is recognized as a Leading Individual.

The Legal 500 EMEA 2021
Bar Qualification
  • Avocat (Paris)
  • MBA Finance and Strategy, ESCP Graduate School of Management, 2000
  • Graduate Degree Business and Tax Law, University of Paris X (Nanterre), 1999
  • Entertainment, Sports & Media
  • Aerospace, Defense & Government Services
  • Energy & Infrastructure
  • Technology
  • Mergers & Acquisitions
  • Private Equity