Approved · Waiver · decided in 2 days, 26 Feb 2026
Eiffel Investment Group SAS and Eurazeo SE have acquired joint control of Segula Holding SAS via a debt-to-equity swap. This financial restructuring prevents liquidation for Segula, a global engineering and technology consulting group. Eiffel and Eurazeo hold 50% of voting rights in Segula, which provides professional engineering services to Australia's automotive and rail sectors.
The acquisition will involve a deleveraging through a debt-to-equity swap resulting in Segula’s creditors, Eiffel Investment Group SAS ( Eiffel ) and Eurazeo SE ( Eurazeo ), acquiring joint control of Segula Holding SAS ( Segula ). The acquisition is part of a financial restructuring aimed at saving Segula from judicial liquidation. It will be carried out under the supervision of the Nanterre Commercial Court (accelerated safeguard procedure) in France and result in Eiffel and Eurazeo each holding 50% of the voting rights in Segula. Eiffel is an asset management company ultimately and exclusively controlled by Impala SAS ( Impala ). Impala is a French private diversified investment company, active in France and internationally in asset management and corporate finance, as well as in the energy and finance sectors. Eurazeo is a French listed global investment group active in private equity, private debt and real assets. Segula is a global engineering and technology consulting group providing technical services and innovation solutions primarily for the automotive, aerospace, energy, rail and marine sectors. Segula’s activities in Australia are currently limited to the provision of professional engineering services to primarily the automotive and rail sectors.