Deals
Darrois Villey Maillot Brochier advised Eurosic for its combination with Gecina
Darrois Villey Maillot Brochier advised Eurosic for its combination with Gecina creating the fourth largest European real estate group with 19.3 billion euros of assets
On June 20th Eurosic has entered into a protocol in order to organize their collaboration in the perspective of their combination. Pursuant to this protocol Gecina will acquire 94.8% of the share capital of Eurosic, by way of blocks acquisition representing 85.3% of the share capital and by way of undertakings to tender securities to the public offer for 9.5% of the share capital, through a mandatory public offer to be filed by Gecina by October 30, 2017.
The board of directors of Eurosic supports this transaction and a protocol has been entered into between the two companies in order to organize their collaboration in the perspective of their combination. At Gecina’s request, Eurosic will sell to Batipart Eurosic’s diversification portfolio, composed of assets that are not strategic for Gecina, Batipart, shareholder of Eurosic with 23% of the share capital, will acquire this portfolio for 463 million euros.
This transaction, subject to antitrust authorization, will give rise to the fourth largest European real estate group with 19.3 billion euros of assets.
The DVMB team includes Marcus Billam, Hugo Diener, Jean-Baptiste de Martigny (Partners), Cécile de Narp, Alexandre Durand in corporate and Vincent Agulhon (Partner) for the tax aspects.
Batipart was advised by De Pardieu Brocas Maffei team which includes Nicolas Favre (Partner), Sébastien Sayn-Urpar, Paul Delpech et Meriem Semrani in corporate and Alexandre Blestel in tax law.
Gecina is advised by Cleary Gottlieb Steen & Hamilton. Also, Simmons & Simmons advises the SGAM COVEA group, Gide advises Debiopharm SA, DS Avocats advises ACM and BDGS advises the Crédit Agricole Insurance group.