15 October 2008 - Gide Loyrette Nouel Paris & Brussels, legal counsel to the French State in connection with the recapitalisation of the Dexia Group:

Gide Loyrette Nouel has been advising the French State in connection with the recapitalisation of the Dexia Group, as announced on 30 September 2008. Following negotiations with the Belgian and Luxembourg authorities, the government decided to take part in a Dexia recapitalisation plan alongside the Belgian and Luxembourg States, Caisse des Dépôts et Consignations and Dexia’s current Belgian institutional investors. 
 
This plan involves a reserved increase in the capital of Dexia of 6 billion euros, one billion euros of which will be subscribed for directly or indirectly by the French State. Following this increase in capital, the French State and Caisse des Dépôts et Consignations will in total hold an equity stake of more than 25%, which represents a blocking minority under Belgian law. The Luxembourg State will subscribe for a convertible bond issue to a value of 376 million euros in Dexia BIL in Luxembourg.

Legal counsel to the French State:
Gide Loyrette Nouel A.A.R.P.I. (Paris Office: Jean-Emmanuel Skovron and Christine Miles handling the corporate aspect; Brussels Office: Stéphane Hautbourg, Hugues Parmentier and Olza Moreno, handling the Community law aspects).