France

Financial Institutions State Aids, Public Law,

Regulatory, Capital Markets

We advised the French State, acting through The French Government Shareholding Agency (Agence des participations de l’Etat, APE), on the EUR7bn liquidity funding granted to Air France. This aid consists on one hand of a Loan Guaranteed by the State, for an amount of EUR4bn and on the other hand a shareholder loan of EUR3bn. This aid is part of a supporting system dedicated to Air France and its affiliates to finance their liquidity needs in the context of the crisis related to the Covid-19 epidemic.

Financial Institutions Commercial Litigation, Class Actions

We successfully acted for BNP Paribas in the first ever class action in the financial sector initiated before the Paris Court of First Instance by a consumer association, as well as another financial institution in the first follow-on ‘collective claim’ introduced as a result of a conviction by the French markets authority (the AMF). The Paris Court of First Instance rejected all of the association’s claims making this judgment an example and a point of reference for French and foreign entities likely to experience a similar situation.

Real Estate

We advised Groupama in their project of development of the Tour The Link, which is to be the highest building in Paris La Défense, involving notably the negotiation with Total of a commercial lease in future state of completion of 120.000 sqm of office area, acquisition of construction rights with Paris La Défense (95.000 sqm), and negotiation of a development contract with the developer (Bouygues Immobilier).

Consumer and Retail Acquisition Financing, Leveraged Finance

We advised the banks on the acquisition financing of Tiffany & Co, the global luxury jeweler, by LVMH Moët Hennessy Louis Vuitton SE, the world’s leading luxury group.

A EUR15bn equivalent loan facility has been used to finance this acquisition, making it one of the flagship deals in the European loan market and one of the largest deals ever in the luxury sector.

Financial Institutions Mergers and Acquisitions, Regulatory, Merger Control, Public Law, Foreign Investments, Employment & Benefits

We successfully acted for the Caisse des Dépôts et Consignations in relation to the acquisition of a majority stake in the capital of La Poste, thus creating a leading public financial actor, as announced by the French Economy and Finance minister on 30 August 2018. This new large public financial pole brings together CDC, La Poste, La Banque Postale and CNP Assurances.

Life Sciences Intellectual Property

We represented a global pharmaceutical and healthcare company in multiple patent actions before the Paris First Instance Court, the Paris Court of Appeals and the Supreme Court concerning the validity and enforcement against major generic companies of its SPCs.

Energy

Mergers and Acquisitions

We advised an energy company on its acquisition of 50% of Adani Green Energy Twenty Three Limited, an Indian entity incorporated by Adani Green Energy Limited (AGEL) to own a 2G solar portfolio in operation. All projects have Power Purchase Agreements (PPAs) with national and regional electricity distributors for a period of nearly 25 years each, and a guaranteed tariff. This transaction represents an investment of approximately USD500m for the energy company.

Infrastructure

Mergers and Acquisitions, Public Law, Litigation, Projects

We represented CASIL Europe – China Airport Synergy Investment Limited, a consortium composed of Friedmann Pacific Asset Management Limited (FPAM) and Shandong Hi-Speed Group (SDHS), on the disposal of its 49.99% interests in Aéroport Toulouse- Blagnac (ATB), the company operating the Toulouse-Blagnac airport, to Eiffage SA, and several litigations initiated by the CGT trade union to suspend the sale.

Financial Institutions Banking and Finance, Tax, Investment Funds

We advised AXA Investment Managers Paris on the structuring and launching of a cutting-edge loan fund investing in revolving credit facilities on a pan- European basis (the AXA IM InMotion RCF Fund), dealing in particular with banking monopoly issues relating to fifteen targeted assets jurisdictions.

Financial Institutions Banking and Finance, Capital Markets

We advised BNP Paribas, Société Générale, Crédit Agricole, Crédit Mutuel, BPCE/Natixis and La Banque Postale networks (together the Arrangers), which raised an unprecedented EUR11bn for the implementation of the equity loan scheme, aimed at stimulating investment to boost the economy under the Plan France Relance.

Consumer and Retail Corporate and M&A

We advised Financière Agache in relation to the announced proposed conversion of Lagardere SCA from a société en commandite par actions (a form of partnership limited by shares) into a standard French société anonyme.

Financial Institutions Capital Markets

We advised a bank consortium on European Investment Bank’s issue of a digital bond on Ethereum public blockchain. The consortium consists of Goldman Sachs International, Santander Corporate and Investment Banking (SCIB) and Societe Generale as Joint Lead Managers and together with Societe Generale – FORGE, as Joint Structuring Managers. Societe Generale – FORGE provided the issuer, the Joint Lead Managers and the investors its end-to-end services to issue and manage the digital-native security tokens registered on the blockchain.