Gide is advising BNP Paribas on the setting up of its partnership with the Matmut group. On 17 November, BNP Paribas and Matmut signed a framework agreement formalising the alliance between the two groups in the field of damage insurance, with the creation of a joint venture, which will be 66%-owned by BNP Paribas Cardif, the insurance subsidiary of BNP Paribas group, and 34%-owned by Matmut. Such structure, which will launch its activity in 2018, will provide IARD insurance products (in particular insurance relating to motor, home, school, legal protection, and assistance services). These products will be offered to BNP Paribas clients in France (individuals and professionals, associations and very small businesses), starting with the Retail Banking (la Banque de Détail, BDDF) clients, then BNP Paribas Personal Finance clients, and ultimately, third party partner clients as part of a multi-distribution strategy.
Legal counsel to BNP Paribas:
Head M&A Legal - BNP Paribas: Louis-Philippe Vasconcelos
Gide: Jean-Gabriel Flandrois (partner), Ghizlen Sari-Ali on M&A aspects, Richard Ghueldre (partner) and Charles-Eric Delamare Deboutteville (counsel) on insurance law aspects, Foulques de Rostolan (partner) on employment law aspects, Thierry Dor (partner) on IP aspects, Emmanuel Reille (partner) on competition aspects.
De Gaulle Fleurance advised Matmut.