Gide has advised Unibail-Rodamco-Westfield (URW) on the disposal of a portfolio of five shopping centres in France to the joint venture (JV) formed by URW, Crédit Agricole Assurances and La Française, as announced in February 2020. The new JV now owns assets Aéroville and So Ouest in the Paris region, Rennes Alma in Rennes, Toison d’Or in Dijon and Confluence in Lyon.
The consortium of leading investors comprised of Crédit Agricole Assurances and La Française will hold 54.2% of the newly formed JV and URW 45.8%. A syndicate of banks comprising BNP Paribas, Crédit Agricole Corporate and Investment Bank, ING Bank N.V., Natixis, Société Générale and Banque Européenne du Crédit Mutuel, has funded the underwritten EUR 1 billion secured financing for the JV, with a 7-year maturity.
Partners Frédéric Nouel, Didier G. Martin and Rémi Tabbagh, working with counsel Cléopha Thomann and associates Faten Anis, Clémence Dubreuil and Elise Bernard assisted Unibail-Rodamco-Westfield on all M&A and real estate aspects of this transaction and its financing.
URW was also advised on tax aspects by firm Lacourte Raquin Tatar, and by notarial study Ginisty & Associés.
Predica and La Française were advised by firms BDGS Associés and White & Case, and by notarial study Allez & Associés.
The banking consortium was assisted by firm De Pardieu Brocas Maffei, working with notarial study Wargny Katz.