Deals | France – M&A

Gide Loyrette Nouel advised Casino, the French retail group, in the context of its project to buy out Groupe Galeries Lafayette’s 50% stake in Monoprix, their joint venture.

This transaction led to the signing, of a letter of intent on 28 June 2012 between the two parties, in the context of a conciliation procedure under the authority of the President of the Paris commercial court.

The objective of the two groups is to reach a settlement agreement for the sale of Groupe Galeries Lafayette’s stake in Monoprix before 30 October 2013 for an amount of EUR 1.175 billion, indexed as from 1 April 2013.

The Gide Loyrette Nouel team comprised Antoine Lelong and Axelle Toulemonde, Mergers & Acquisitions partners, Alban Caillemer du Ferrage and Eric Cartier-Millon, partners specialising in finance law, Yann Utzschneider, partner specialising in competition and distribution law, Laurent Modave, partner in tax law, François Doridou, Mickaël Rivollier and Ana de Matos-Canelas (associates).