Founded in Paris in 1920, Gide is a leading international law firm with 12 offices spread throughout the world.
Gide is physically present in six regions of the world, with 11 offices, enabling it to act on cases globally.
3 September 2018
Deals | France | M&A | Real Estate
Gide has advised Les Nouveaux Constructeurs (LNC) and Aermont Capital LLP (Aermont) on their entering into exclusive negotiations with Rabobank and its subsidiary BPD Europe for the acquisition of property development group BPD Marignan.
Following this transaction, BPD Marignan will be held by a joint company owned 60% by LNC and 40% by a property investment fund advised by Aermont.
The transaction will be finalised subject to completion of regulatory requirements, in particular as regards consulting staff representative bodies and prior approval by the relevant merger control authorities. It could be finalised by the fourth quarter of 2018.
Partners Frédéric Nouel and Hugues Moreau of Gide's Real Estate Transactions & Financing practice group advised the purchasers, with a multi-disciplinary team comprising:
The sellers were advised by Allen & Overy on legal matters with a team headed by partner Frédéric Jungels, and by Delaby & Dorizon on tax matters with partner Emmanuel Delaby.
BPD Marignan is a residential and office property developer, present throughout France with 14 regional establishments. Holding a pipeline of 15,500 property lots at 31 December 2017, BPD Marignan sold over 4,000 properties in 2017.
Les Nouveaux Constructeurs, listed on Euronext Paris, is a significant player in the development of residential properties and offices, in France and two other countries in Europe. Since 1972, the group has built nearly 80,000 flats and individual houses, both in France and abroad.
Aermont Capital LLP is a leading independent private equity player, active in pan-European direct property investment projects or in companies with a strong real estate component.
