Gide Loyrette Nouel has been selected by the Meridiam and CNP Assurances consortium to advise them on the call for tenders initiated by the Vinci group - the French construction and concessions group - for the sale of Vinci Park, ultimately won by Ardian and Credit Agricole Assurances.
Vinci is in exclusive talks to sell three-quarters of Vinci Park – the massive parking concession business, which manages more than 1.6 million parking spaces in 14 different countries - to private-equity fund Ardian and Credit Agricole's insurance arm for about EUR 1.425 billion. The deal values the whole parking division at EUR 1.96 billion. Seven banks are reported to be providing around EUR 1.2 billion of infrastructure loans to back the acquisition.
The bespoke team set up by Gide consisted of 33 lawyers from seven Practice Groups working from the firm’s Paris, London, Brussels and Moscow offices, and Gide also called upon its partner firms in the United Kingdom, Belgium, Spain, the United States, and Canada for assistance. Gide’s team advising Meridiam and CNP Assurances was coordinated from Paris by Partners Guillaume Rougier-Brierre and Stephane Vernay and Counsels Alexis Pailleret and Marie Bouvet-Guiramand. Also involved were Partners and Counsels Eric Cartier-Millon, Fernand Arsanios, Thomas Courtel, Stephane Hautbourg, Sophie Quesson, David Lasfargue, Guillaume Jolly, and Foulques de Rostolan.
The Meridiam / CNP consortium was advised by merchant bank HSBC, Gimar & Cie, Deloitte (financial audit), and Taj (tax audit). Legal counsel to CNP Assurances was provided by Herbert Smith Freehills. The banks supporting the financial offer made by the consortium were advised by Linklaters.