Gide, counsel to Société Générale and Boursorama on entering exclusive discussions with ING in France
2 February 2022
Deals | France | Corporate/M&A
Gide has advised Société Générale and Boursorama on the signing by Boursorama of a Memorandum of Understanding with ING, following the latter's announcement to withdraw from the retail banking market in France. The purpose of this preliminary agreement would be to offer ING clients in France the best alternative banking solution, with dedicated conditions and support.
The parties intend to reach a final agreement at the latest in April 2022.
Gide's team comprised partner Guillaume Rougier-Brierre, working with associates Morgan Maréchal and Camille Burg on M&A aspects; partner Emmanuel Reille and associate Laura Pernayan on antitrust aspects; partner Olivier Dauchez on tax aspects; partner Olivier Bernardi and associate Angeline Dubois on regulatory aspects; and counsel Charles-Eric Delamare Deboutteville and associate Constantin Beytout on insurance aspects.
ING was advised by Clifford Chance on M&A, regulatory aspects and antitrust aspects.