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.
17 January 2025
Deals | France | Real Estate | M&A
Gide has advised Kering on the signature of a binding investment agreement with Ardian pertaining to three highly prestigious real estate properties in Paris. This portfolio comprises Hôtel de Nocé, located 26, place Vendôme, and two buildings located on avenue Montaigne, at 35-37 and 56.
Kering is contributing these assets to a newly created joint venture. Ardian, a world-leading private investment house, will hold a stake of 60% in this unique prime real estate portfolio, Kering retaining 40% of the ownership. Net proceeds for Kering will amount to €837 million.
This transaction is part of Kering’s selective real estate strategy, aimed at securing exceptional retail locations for its Houses for the long term in the world’s most emblematic luxury districts.
The deal is expected to close in the first quarter of 2025, pending the fulfillment of customary conditions for real estate transactions.
The Gide team included, for Kering partners Frédéric Nouel and Jean-Gabriel Flandrois, along with counsels Pierre-Adrien Vibert and Elise Bernard, and Thomas Khelifi, Manon Garoui, and Marion Toualit, on Real Estate and M&A matters; partner Laurent Modave, of counsel Julien Aillet, and Léa Grandfond and Alix Pricot for tax matters; partner Emmanuel Vital-Durand and Caroline Pineau for public law matters; and for the joint venture, partners Laetitia Lemercier and Laurent Vincent, counsel Faten Anis, with Guillaume Pichat and Emilie Radisson on financing aspects.
