20 January 2022
Deals | France | Corporate/M&A
Gide has advised CGI Finance, a financial institution and subsidiary of Société Générale, on the launch of Hyundai Capital France ("HCF"), a joint venture with Hyundai Capital Services, a financial services subsidiary of Hyundai Motor Group.
The European Commission approved the acquisition by Hyundai Capital Services of a stake in this joint venture in December 2021. HCF becomes the captive finance company in France for brands Kia and Hyundai, and will support Hyundai Motor France, Kia France and their dealer network of around 400 sites in France in lease and loan financing for new and used vehicles, in addition to serving as a sales agent for relevant insurance products. HCF, whose share capital is shared 50/50 between the two shareholders, will benefit from the support of Société Générale Group and CGI Finance in particular, already a leader in used car rental and an expert on the automotive market.
Gide's team comprised partner Guillaume Rougier-Brierre, working with associates Morgan Maréchal and Elisa Domingues, and Alison Pereira-Martins on corporate aspects; partner Emmanuel Reille and associates Camille Courti on competition aspects; partner Olivier Bernardi on financing aspects; and partner Foulques de Rostolan on matters of employment law.
Hyundai Capital Services was advised by DLA Piper (Sarmad Haidar, M&A, Edouard Sarrazin, Competition) and by Sébastien Praicheux on regulatory matters.