Five top firms have bagged roles on the largest French-based private equity deal ever, as Texas Pacific Group and AXA private equity acquire a majority stake in TDF for €4.9bn (£3.3bn).

Ashurst, Bredin Prat, Cleary Gottlieb Steen & Hamilton, Gide Loyrette Nouel and Latham & Watkins, all acted on the deal, which was announced yesterday (11 October).