Deals | France – M&A / Competition

Gide advised group Crédit Agricole SA on its exclusive negotiations regarding:
 

• The disposal by Crédit Agricole CIB to Société Générale of its 50% stake in the Newedge Group, their brokerage joint venture, for €275 million. Upon completion, Société Générale will own 100% of Newedge Group.
   
• The concurrent acquisition by Crédit Agricole S.A. from Société Générale of a 5% stake in Amundi, their jointly owned asset management company, for an amount of €337.5 million. Following this acquisition, Crédit Agricole will own 80% of Amundi and Société Générale, 20%.

The closing of the project is subject to final agreement between the parties, authorisation of the relevant regulatory bodies and consultation with the works councils in France.

The Gide team advising CASA on these operations comprised Guillaume Rougier-Brierre (partner), Edgard Nguyen, Erwan Ogier and Catherine Ivari on corporate aspects, Yann Utzschneider (partner) and Charles Terdjman on competition aspects.