Estelle Philippi is a Partner in our Global Tax Practice. Based in Paris, Estelle's principal areas of practice include mergers and acquisitions, international and domestic tax planning, corporate tax advice and tax litigations.
Estelle guides clients such as private equity funds, global businesses and financial institutions in relation to the tax structuring of investments, disposals and acquisitions and on complex matters relating to French and international tax law. She has also developed a particular expertise in estate planning for French and non-French tax residents, and is regularly called upon to lead on significant tax litigations.
Over the past few years, Estelle has represented a broad spectrum of companies including IK Investment Partners, BC Partners, GIC, Crédit Agricole, BNP Paribas, Cobepa, AEW Europe, Tereos and Smartbox, among others.
Estelle joined the Firm in 2012, and before that, she worked for a French law firm for over 4 years.
Recent experience includes:
EP Global Commerce (2023)
Representation of EP Global Commerce a.s., a company controlled by businessman Daniel Kretinsky, on the signing of an agreement in principle on July 27, 2023, with Casino Group and some of its creditors representing more than two-thirds of the Term Loan B, with a view to strengthening Casino Group's equity structure and restructuring its financial debt.
ORPEA Group (2023)
Representation of the ORPEA Group on its accelerated safeguard plan, which was approved by the Nanterre Specialized Commercial Court on July 24, 2023.
EREN Group (2023)
Representation of leading natural resources player EREN Group and its subsidiary Total Eren, a renewable energy production leader, on the acquisition of Total Eren by TotalEnergies.
Banque des Territoires (Caisse des Dépôts Group) (2023)
Representation of Banque des Territoires (Caisse des Dépôts Group) on its acquisition of a 34 percent stake in JP Energie Environnement (JPee), a French independent producer of renewable energy which has been involved in the development, financing, construction and operation of wind farms and photovoltaic (PV) power stations in France since 2004.
Regnology Group GmbH (Regnology) (2023)
Representation of Regnology Group GmbH (Regnology), a portfolio company of Nordic Capital, on the acquisition of Invoke from private equity investors ISAI Expansion and Sagard NewGen as well as Invoke's CEO Raphael de Talhouet.
Representation of Luko, a leading online insurer, on its sale to Admiral Group, a FTSE100-listed international financial services company, to create a leader in the online insurance market.
Eurazeo Investment Manager (2023)
Representation of funds managed by Eurazeo Investment Manager on the tax aspects of a unitranche financing for the acquisition of Tennaxia by Marlin Equity Partners.
Acquisition of Unither Pharmaceuticals (2023)
Representation of several direct lenders on a more-than €500 million unitranche financing on the tax aspects of the acquisition of Unither Pharmaceuticals by a consortium of investors consisting of GIC and IK Partners as new investors, Keensight and Parquest reinforcing their existing position and Unither's management team.
Mazarine Group (2023)
Representation of Mazarine Group and its chairman, founder and main shareholder on the tax aspects of the investment by LBO France, FG Bros and another lifestyle private equity fund in the capital of the company.
Air Austral (2023)
Representation of Réunionese airline Air Austral on the tax aspects of its restructuring, the main terms of which were agreed in a conciliation protocol signed in December 2022 by Air Austral, the French state, its controlling shareholder, various public creditors, banking partners and new investors.
Cosfibel Group (2023)
Representation of the shareholders of Cosfibel Group, a leading designer and manufacturer of luxury packaging, promotional products and merchandising solutions, on the tax aspects of its sale to packaging company GPA Global.
Representation of Eurazeo on the tax aspects of its £355 million investment in BMS Group (BMS), a global insurance broker headquartered in the UK, equating to 34 percent of the share capital of BMS.
The Carlyle Group (2022)
Representation of The Carlyle Group on the tax aspects of its acquisition of Tescan Orsay Holding (Tescan), a leading manufacturer of electron microscopes and other high-tech scientific instruments, headquartered in the Czech Republic.
Representation of Verallia on the tax aspects of the acquisition of Allied Glass from Sun European Partners LLP.
Pegasus Entrepreneurs (2022)
Representation of Pegasus Entrepreneurs and its sponsors Tikehau Capital, Financière Agache, CEO Pierre Cuilleret, Jean-Pierre Mustier and Diego De Giorgi on the tax aspects of the de-SPACing with FL Entertainment, a global entertainment group comprising Banijay Group and Betclic Everest Group, that will result in the listing of FL Entertainment on Euronext Amsterdam.
BNP Paribas, BofA Securities Europe SE, J.P. Morgan (2022)
Representation of a syndicate of banks led by BNP Paribas, BofA Securities Europe SE and J.P. Morgan on the tax aspects of the admission to trading of EUROAPI on the regulated market of Euronext Paris by way of partial distribution of EUROAPI shares to Sanofi's existing shareholders.
Representation of Cube Infrastructure Managers (Cube), a leading European mid-market infrastructure investor, on the tax aspects of the acquisition through its Cube Infrastructure Fund III of Trail's majority stake in leading pure-play French municipal waste collection operator Sepur, in partnership with its founder Hervé Matuszewski who will remain a minority shareholder alongside Cube.
Peugeot Frères Industrie (2022)
Representation of Peugeot Frères Industrie on the tax aspects of the entry into exclusive negotiations for the acquisition of a majority stake in Holding Tivoly and the direct acquisition of shares in Tivoly S.A. from certain members of the Tivoly family.
Representation of EPSA, a French consulting firm, and its main shareholders on the tax aspects of a joint minority investment from TowerBrook Capital Partners L.P., RAISE Investissement and CAPZA Expansion.
Keolis Group (2022)
Representation of Keolis Group, a global leader in the shared mobility market and partner to public transport authorities around the world, on the tax aspects of a €600 million term loan to refinance certain of its existing indebtedness.
Representation of private equity fund FCDE (Fonds de Consolidation et de Développement des Entreprises) on the tax aspects of the signing of an agreement with CNIM and Equitis Gestion for the acquisition of Bertin Technologies, a company that specialises in the development and integration of scientific instrument systems.
Representation of Faurecia, one of the world's largest automotive equipment suppliers, on the tax aspects of the sale of its Acoustics and Soft Trim (AST) division to the Adler Pelzer Group (APG), a worldwide leader in automotive acoustic and thermal components and systems.
Representation of Korian, the leading European care services group for elderly and vulnerable people, on the tax aspects ofits entry into exclusive negotiations with Colisée to sell 21 facilities and Vivalto Vie to sell 11 facilities.
Liberty Global (2021)
Representation Liberty Global, one of the world's leading converged video, broadband and mobile communications companies, on the tax aspects ofthe signing of an agreement with iliad for the sale of 100% of the share capital in Polish cable operator UPC Poland to iliad's Polish mobile subsidiary Play for an enterprise value of $1.8 billion.
Ebro Foods S.A. (2021)
Representation of leading Spanish agri-food group Ebro Foods S.A. on the tax aspects of its entry into exclusive negotiations with CVC Capital Partners VIII for the proposed disposal of the Panzani® dry pasta, couscous, sauces and semolina business.
Apave Group (2021)
Representation of the Apave Group and its shareholder GAPAVE on the tax aspects ofthe investment by PAI Partners, a European private equity firm, in the capital of the Apave Group.
Representation of Cobepa on the tax aspects of the acquisition of Gerflor group from ICG. Cobepa becomes majority shareholder.
Representation of secured lenders of the listed company Antalis SA on the tax aspects of the execution of an agreement on the disposal by Sequana (listed holding company) and Bpifrance Participations of their majority stakes in the Antalis Group to the Tokyo based Kokusai Pulp & Paper.
Prédica and La Française (2020)
Representation of Prédica and La Française on the tax aspects of a joint venture agreement entered into with Unibail-Rodamco Westfield regarding their investment in a new real estate company owning a EUR 2 billion portfolio of 5 major commercial malls located in France.
Representation of Cobepa, main shareholder of Socotec Group, in connection with the tax aspects of the sale by Five Arrows and BIP of circa 33% of the Socotec Group, a group of companies under LBO with an enterprise value of circa 1.8 Bn €, to Clayton Dubilier & Rice.
Mérieux Equity Partners (2019)
Representation of Mérieux Equity Partners on the tax aspects of the acquisition alongide IK Partners of Mabtech AB, a Swedish biotech specialized in monoclonal antibodies.
Colisée Group (2019)
Representation of Colisée Group, a French group held by private equity player IK Investment Partners, on the tax aspects of the acquisition of its Belgian competitor Armonea. The combination of Colisée and Armonea creates the fourth largest European operator in the business of elderly care.
Representation of GIC, a global long-term investor with well over US$100 billion in assets in over 40 countries worldwide
on the tax aspects of the structuring of its investment in free market residential properties, and
on tax aspects of 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. This is to invest in construction and development projects, including social housing construction and development.
Representation of LFPI, an independent French investment fund, on the tax aspects ofthe sale of Club Med Gym comprising 21 fitness clubs in Paris and Paris area to Ken Group, holding the luxury fitness club Ken Club, Clay and Blanche in Paris.
Mérieux Equity Partners (2019)
Representation of Mérieux Equity Partners on the tax aspects of its acquisition alongside ICG of Doc Generici sold by CVC Capital Partners.
BNP Paribas (2018)
Representation of 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.
Representation of Cobepa and the other shareholders of Exclusive France Holding SAS, on the tax aspects of the €1.3 billion sale of Exclusive Group to Permira, an international investment firm based in London, UK.
Group Legris Industries (2018)
Representation of the Managers of French Group Legris Industries on the tax aspects of the investment by Arkea Capital Partenaire of €30 million.
Cardif, Sogecap, Predica and CNP Assurances (2018)
Representation of a group of French leading institutional investors composed of Cardif, Sogecap, Predica and CNP Assurances on the tax aspects of their acquisition of circa 41% of Icade Healthcare Europe, a fund dedicated to investments in real estate healthcare premises in Europe (especially, in Germany, Italy and Spain). The fund is expected to reach €1.5 Billion of investments until 2023.
"Tax Lawyer of the Year" by "Women in Business Law Awards" in 2023