Ahmed Boulahcen

Associate, Paris



Ahmed Boulahcen is an associate in the Project Development & Finance practice of White & Case Paris.

Ahmed advises French and international banks, financial institutions as well as sponsors and borrowers in the context of project finance and structured finance transactions in France and abroad.

He has developed experience in complex financings, as part of infrastructure, energy and telecom grids projects.

Before joining White & Case, Ahmed worked in an international US law firm based in Paris.

Bars and Courts
Paris Bar
International Financial Law
King's College London
Master 2
Financial Law
University of Paris I Panthéon-Sorbonne
Master 2
Business Law
Paris Dauphine University
Master 1
Business Law
Université de Paris I Pantheon Sorbonne


His recent experience includes advising:

  • the senior lenders comprising Brazil's National Bank for Economic and Social Development (BNDES) and a syndicate of ten commercial banks and developmental agencies in connection with the non-recourse senior secured financing for the US$3 billion (R$17 billion) São Paulo Metro Line 6 project in Brazil, the largest PPP project currently under construction in Latin America;
  • the lenders and bondholders of a JV between Bouygues Telecom and Vauban Infrastructure Partners in relation to the financing of the acquisition of IRUs in France from multiple telecom operators (Project "Obelix").
  • Transdev in relation to the call for tenders launched by the French 'Région Sud' for the operation of the Marseille - Toulon - Nice rail line, the negotiation and the conclusion of the concession contract, contracts for the acquisition and maintenance of 16 new trains, and the construction of a maintenance and storage site in Nice. This is the first rail service concession awarded by a region since the opening of competition in passenger rail transport in France in 2019;
  • Altitude Group, France's leading independent fibre operator, on the acquisition from Covage, a wholesale fibre operator in France, of 26 public and private fibre networks;
  • Altitude Group on the acquisition of infrastructure fund Marguerite's stake in three major French FTTH concessions: Losange (Grand Est region), Rosace (Alsace) and Fibre 31 (Haute Garonne);
  • Financial services company LCL in connection with the structuring, drafting and negotiation of the first multi-buyer Green Corporate Power Purchase Agreement (Green CPPA) in Europe and on a framework agreement, common to all purchasers, to manage the participating companies for the duration of the Green CPPA;
  • the lenders and bondholders on the financing of project "Asterix" (e.g. the acquisition from Bouygues Telecom of a fiber to the home (FTTH) private network built and to be further developed by Orange). This transaction was named "European Fibre Deal of the Year" by Project Finance International (PFI Awards 2020) and "Europe Telecoms Deal of the Year" at the 2021 IJ Global Awards;
  • Vinci Concessions and SFR on the refinancing of the Global System for Mobile Communication – Railways (GSM-R), a digital telecommunications network that enables conference mode communications between train drivers and teams on the ground. The project is co-financed by commercial banks, the European Investment Bank and Caisse des dépôts et consignations. This transaction was awarded "Europe Refinancing Telecoms / Digital Infrastructure - Transport Communications Deal of the Year" at the 2021 IJ Global Awards;
  • Bouygues Telecom and Phoenix France Infrastructures in connection on the financing of the development of approximately 4,000 wireless towers by Phoenix France Infrastructures, a joint-venture between Bouygues Telecom and Phoenix Tower International, a Blackstone portfolio company. The financing is arranged by Banco Santander and Natixis. This transaction was awarded "Europe Telecoms Towers Deal of the Year" at the 2021 IJ Global Awards;
  • Altitude Infrastructure THD on the financing of two optic fiber networks in the departments of Landes and Cote-d'Or in France (AMEL Landes and AMEL Côte d'Or) under the so-called AMEL process (call for expressions of commitment at local level);