First French PPP Under New Regulation
Paris,
February 9, 2007 ... White & Case advised Dexia Crédit Local in its role as lender in the first Public Private Partnership (PPP) established under France's new PPP Regulation, which came into force in 2004. In the deal, a €250 million contract for the upgrade of France's elite national sports academy INSEP (L'Institut National du Sport et de l'Éducation Physique) was awarded to a consortium formed by GTM Construction and Barclays European Infrastructure Fund (BEIF). Although a number of PPPs in France have been established in specific sectors under a sector-specific PPP regulation introduced in 2003, the deal is the first signed under the new general PPP regulation of June 17, 2004.
The White & Case team advising Dexia Crédit Local was jointly led by Energy, Infrastructure and Project Finance partners Jacques Bouillon and Paule Biensan, with the former leading on project contract issues and the latter on financing issues. They worked closely with associates Jean-François Le Corre, Bénédicte Levier, Marianna Sedefian and Caroline Marchand.
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