Global law firm White & Case LLP has advised Groupama on the sale of its stakes of five percent in Veolia Environnement and 4.9 percent in the Italian bank Mediobanca.
The sales were made through private placements with qualified investors by means of accelerated bookbuildings. The total value of the transactions was €485 million for Veolia Environnement and €333 million for Mediobanca.
Groupama is one of the largest French mutual insurance, banking and financial services groups. The sales represent a further step in the group’s financial strategy to diversify its assets portfolio.
The placement of the Veolia Environnement shares was managed by Deutsche Bank and Société Générale, acting as Joint Bookrunners. The placement of the Mediobanca shares was managed by Morgan Stanley as sole Bookrunner.
White & Case previously advised Groupama on the sales of stakes in Saint-Gobain (2014; €450 million), Société Générale (2013; €517 million) and Eiffage (2013; €250 million).
The White & Case team in Paris was led by partners Thomas Le Vert and Séverin Robillard with support from associates Antonin Deslandes, François Carrey and Natalia Sauszyn-Pfender. Partner Colin Chang and counsel Max Turner advised on US law aspects. Partner Alexandre Ippolito and associate Marcus Schmidbauer advised on tax issues. The Italian law aspects of the Mediobanca placement were advised by partner Ferigo Foscari and associate Alessandro Seganfreddo (both Milan).
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