Cleary Gottlieb Steen & Hamilton has advised France’s Neopost on a E217m (£140.3m) purchase that saw Travers Smith Braithwaite win the English side of the deal for the target through its Paris base.

Neopost, a French mail and logistics company, bought Swiss firm Ascom Holdings’ mailing systems business, as company restructurings become more popular in France to drive down debts.