Alexandre Ippolito

Partner, Paris

Biography

“A respected practitioner known for advising private clients on matters of estate planning, restructuring and disposal operations.” (Who’s Who Legal 2017) “Good negotiating and communication skills.” “He’s experienced, responsive, a good team leader and speaks very good English. He is always thorough and reliable.” (Chambers Europe 2016)

Overview

Alexandre Ippolito is a Partner in the M&A Corporate practice and is head of the Real Estate, Tax and Labor practices for the EMEA region. His practice has a particular focus on tax law, but he also has experience in French corporate law. He brings knowledge and insight to both national and cross-border transactions, advising clients across a variety of sectors, including hospitality, real estate development and insurance.

Alexandre's diverse list of clients includes Crédit Agricole, Marriott, AEW Europe, BGAM, Solocal, Séché Environnement, Generali, Nacco and various bank syndicates. He works primarily on acquisitions in an industrial or private equity context (structuring, identification and risk management).

He regularly advises on implementing fund structures, to defend such structuring in case of investigation by the French tax authorities, to structure fund investments and to organize management packages.

Alexandre's practice also includes providing counsel to major banks, for whom he reviews acquisition structures in significant transactions (leveraged buyout transactions or public operations), helping them understand complex structures and identify related risks.

Recent examples of this work include advising on the tax aspects of the initial public offerings on the regulated market of Euronext Paris of SPIE, Mediawan and Maisons du Monde.

Alexandre has a stand-alone tax practice, and – working with significant industrial groups – advises on tax optimization, participates in major group restructurings and provides advice to clients on prominent tax litigation matters. For example, he handles transfer related pricing and other disputes against the FTA, but also disputes among parties in relation to tax risk or liability.

As well as working for major companies and financial institutions, Alexandre's track record includes supporting private clients (families controlling industrial groups or high profile individuals) with estate planning, major restructuring, and disposal operations.

Alexandre is a member of the Paris Bar Association and the ESSEC Alumni Association.

Bars and Courts
Paris Bar
Education
Masters in Management
Ecole Superieure des Sciences Economiques et Commerciales (ESSEC)

Paris

Languages
French
English

Experience

GIC (2019)
Advised GIC, a global long-term investor with well over US$100 billion in assets in over 40 countries worldwide, on the structuring of its investment in free market residential properties and in connection with its investment of up to 80 million euro into a fund FLI 2 which is structured as a regulated French investment vehicle (SPPICAV) and which is managed by Caisse des Dépôts Habitat.

Conforama (2019)
Advised Steinhoff Group's main creditors on the tax aspects of the financial restructuring of its subsidiary Conforama, through a €316 million two-tranche bond issue.

BNP Paribas (2018)
Represented SCPI Accimmo-Pierre, a subsidiary of BNP Paribas REIM, on the tax aspects of the acquisition of Fontenay SCI, who holds a building Périgare C (12,000 meters squared) located in Fontenay-sous-Bois (Val-de-Marne), France.

Tikéhau Capital (2018)
Assisted Tikéhau Capital on the tax aspects of the acquisition of ACE management company.

Société Générale Insurance (2018)
Advised Société Générale Insurance (formerly Sogecap) on the tax aspects of the acquisition by Sogecap of 100% of the OPCI Altafund, which holds office premises of 27,000m2 of floor space in Neuilly-sur-Seine. Winner of the MIPIM Awards 2019 “Best Refurbished Building” category.

Bank Syndicate (2018)
Represented Barclays, BNP Paribas, Citigroup, CACIB, HSBC, Morgan Stanley, Natixis and Société Générale as Joint Lead Managers on the tax aspects of the offering of €600 million 1.00 % Notes due 18 October 2024 and €500 million 1.75%. Notes due 18 April 2028 by Capgemini SE. The net proceeds of the issue of the 2024 Notes have been used to purchase part of the existing €1.25 billion 1.75%. Notes issued by the Issuer on 1 July 2015 and maturing on 1 July 2020, following the acquisition thereof by BNP Paribas, as Offeror, by way of tender offer. The net proceeds of the issue of the 2028 Notes will be used by the Issuer for general corporate purposes, including the redemption of the €500 million floating rate notes issued by the Issuer on 1 July 2015 and maturing on 2 July 2018.

Bank Syndicate (2018)
Represented Crédit Agricole CIB, Natixis and Société Générale, as joint bookrunners, on the tax aspects of Nexity’s offering of net share settled bonds convertible into new shares and/or exchangeable for existing shares (Obligations à option de Remboursement en Numéraire et/ou en Actions Nouvelles et/ou Existantes) (ORNANE) for a nominal amount of approximately €200 million.

JP Morgan (2018)
Advised J.P. Morgan, acting as Sole Global Coordinator, on the tax aspects of the 2 billion sale by Vivendi of its entire stake in Ubisoft, representing approximately 30.5 million shares and 27.3 percent of Ubisoft's share capital.

Icade (2018)
Represented Icade on the tax aspects of its €600 Million Bond Issue with a maturity of ten years and an annual coupon of 1.625%. Icade has simultaneously launched a tender offer on three outstanding bond issues on which we also advised, financed with the proceeds of the new bond issue. The bonds will be admitted to trading on the regulated market of Euronext Paris.

CNP Assurances Real Estate Investment Fund (2017)
Representation of CNP, Cardif (BNP Paribas), Malakoff Mederic, Aviva Investors, ERAFP and SMABTP on the tax aspects of structuring a real estate investment. The asset manager and sponsor of the fund is SNI

Michelin US$ 500 million non-dilutive convertible bonds offering (2017)
Represented Michelin on the tax aspects of its US$ 500 million offering of non-dilutive cash-settled convertible bonds due 2022. The bonds, issued by Compagnie Générale des Etablissements Michelin, will not bear interest and the net proceeds of the issuance will be used for Michelin's general corporate purposes. The bonds, which will be admitted to trading on the Open Market (Marché Libre) of Euronext Paris, have been offered via an accelerated bookbuilding process through a private placement to institutional investors only, outside the US, Australia, Canada, South Africa and Japan

AEW acquisition of Primavera Portfolio (2016)
Advised AEW Europe on the tax aspects of its acquisition of the Primavera portfolio from Grosvenor, of two shopping centres located in Marseille and Châlons-en-Champagne for a total value of € 188 million

Tereos €400 Million Project Bond and €225 Million Revolving Credit Refinancing (2016)
Representation of Tereos on the tax aspects of its refinancing, comprising a €400 million bond issue and a €225 million revolving credit facility

Airbus Group's sale of its 23.6 percent stake in Dassault Aviation (2016)
Advised the bank syndicate on the tax aspects of Airbus Group's sale of its remaining 23.6 percent stake in Dassault Aviation by way of a combined (i) private placement with accelerated bookbuilding, (ii) exchangeable bonds issue and (iii) buy-back by Dassault

Direct Energie's sale of stakes by Ecofin Power & Water Opportunities (2016)
Representation of Société Générale on the tax aspects of the €42.1 million sale by Ecofin Power & Water Opportunities plc of 1,684,656 shares in Direct Energie through a private placement with institutional investors and existing core shareholders by way of an accelerated book building offering led by Société Générale and Gilbert Dupont

€2.4bn cross-European acquisition by BNP Paribas (2015)
Representation of Arval, a fully owned subsidiary of BNP Paribas specializing in full service vehicle leasing, in connection with the French tax aspects of the acquisition of GE Capital's European fleet management activity. The scope of this acquisition covers more than 160 000 vehicles in 12 European countries, the vehicles assets amount to €2.4bn

LFPI's acquisition of Alliance Hotel Group (2015)
Advising LFPI in connection with the French tax aspects of the acquisition of Alliance Hotel Group from Lone Star. The group comprises twelve hotels, positioned as three and four star offerings, located in Greater Paris as well as key regional cities. With these additional 1,913 rooms, the LFPI Group is able to grow its hotel investment portfolio

Coface's IPO (2014)
Coface Group benefited from Alexandre's experience in tax law on its initial public offering on the regulated market of Euronext Paris. The IPO was initiated by Natixis, Coface's shareholder, and the offering amounted to approximately €832 million. Coface is a worldwide leader in credit insurance, providing companies around the globe with solutions aimed at protecting them against the risk of financial default by their debtors, on both their domestic and export markets

Elior IPO (2014)
A syndicate of banks led by Deutsche Bank, J.P. Morgan, Crédit Agricole Corporate & Investment Bank and HSBC on a range of tax matters with regard to an initial public offering of Elior on the regulated market of Euronext Paris. The maximum amount of the offer was €1.1 billion. Elior is one of the world's leading operators in the contracted food and support services industry, generating revenue of approximately €5 billion

PSA Peugeot Citroën's €3 billion capital increase (2014)
Alexandre advised syndicate of banks led by Banco Santander, BNP Paribas, Citigroup, Crédit Agricole Corporate and Investment Bank, Deutsche Bank, HSBC, Morgan Stanley, Natixis and Société Générale Corporate & Investment Banking, acting as global coordinators and joint bookrunners, on PSA Peugeot Citroën's €3 billion capital increase. The transaction strengthened the group's balance sheet and liquidity while giving PSA Peugeot Citroën the means to undertake key investments in establishing its 'Back in the Race' strategic plan

Nacco's reorganization and disposal (2014)
Nacco Group, one of the largest independent full service railcar lessors in Europe, on its reorganization, and then Nacco's historical shareholders in the company's disposal. Nacco Group was sold to CIT Group, a global leader in transportation finance, an acquisition which represents CIT's first investment in a European rail franchise

Boussard & Gavaudan sale of Compagnie des Minquiers stake (2014)
Boussard & Gavaudan Holding Limited, a closed-ended investment company, on the sale of its stake in Compagnie des Minquiers, the holding company of the Cofigeo Group

EDF Invest and Crédit Agricole Assurances acquisition (2014)
EDF Invest (Electricité de France) and Crédit Agricole Assurances on their acquisition, from AG Real Estate, of 80 per cent of the shares of a French company owning a real estate property called Campus Cristal (headquarters of Thales Communication & Security) located in Genevilliers

Predica acquisition (2014)
Predica on the tax issues of its acquisition from Foncière des Regions of a 50 per cent stake in the entity owning the Eiffage Headquarters in Velizy (France)

Crédit Agricole Assurances acquisition of 127 retail galleries (2014)
Crédit Agricole Assurances on the tax aspects of the setting up of a consortium led by Carrefour to purchase from Klépierre a portfolio of 127 retail galleries for a value of circa €2 billion and on the structuring of this operation

Europe Assistance sale of shares in Icare (2014)
Europ Assistance (Generali Group) in the context of the sale of 100% of its shares in the company Icare, a major player in the distribution and management of motor insurance contracts in France, to BNPP Cardif

AEW Europe (2013)
AEW Europe on the restructuring of the share capital and the existing loans of various SPVs owning real estate assets.

Awards and Recognition

Leading Individual: Band 3: Tax – France, Chambers Europe (2017)

"A respected practitioner known for advising private clients on matters of estate planning, restructuring and disposal operations." (Who's Who Legal 2017) 

"Good negotiating and communication skills." "He's experienced, responsive, a good team leader and speaks very good English. He is always thorough and reliable." (Chambers Europe 2016)