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.
Gide’s Casablanca office assisted Wendel on the sale of its equity interest in the holding company of the Saham group for USD 155 M (EUR 125 M).
This transaction took place alongside the sale by Saham group of its insurance division to South Africa-based Sanlam, the leading financial services provider in Africa, for more than USD 1bn. It is subject to the completion of the transaction between the Saham Group and Sanlam, which should occur in the second half of 2018.
Wendel will also get an earn-out, with a portion of the capital gains on any disposal of the remaining businesses of Saham Group (Customer relationship centers, Real estate, Healthcare and Education) that would take place in the next 24 months for a consideration exceeding certain pre-defined thresholds.
Wendel invested EUR 100M in the holding company in 2013 for 13.3% of its share capital, to finance Saham’s African growth and diversification.
Gide Casablanca assisted Wendel with a team led by partner Simon Auquier, and Chloé Joachim de Larivière.
Allen & Overy (Casablanca office) assisted the purchaser.
