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.
30 May 2024
Deals | France | M&A
Gide is advising the Ad Hoc Committee of Neoen’s Board of Directors, in connection with the entering into exclusive negotiations by Impala and other minority shareholders of Neoen (including its Chairman and CEO) with a view to selling a majority share block to a consortium led by Brookfield.
The consortium would acquire approximately 53% of Neoen's share capital at a price of €39.85 per share (ex-dividend), subject to regulatory conditions. Following consummation of the block acquisition, the consortium would then file a simplified mandatory public tender offer for the remainder of Neoen's capital, followed by the implementation of a squeeze-out if the conditions are met.
The price proposed by Brookfield values the company at 6.1 billion euros (equity value).
The signing of the definitive agreements is subject to the completion of the information-consultation procedures with the employee representative bodies, and the successful completion of the offer remains conditional on the compliance decision of the “Autorité des marchés financiers” (“AMF”).
The Gide team includes partners Marcus Billam, Olivier Diaz and Alexandre Durand, and associate Agathe Delalande.
Impala and Neoen are advised by Bredin Prat; Brookfield is advised by Clifford Chance, and Fonds Stratégique de Participations is advised by Perchet Rontchevsky & Associés.
