Norbert Majerholc | White & Case LLP International Law Firm, Global Law Practice
Norbert Majerholc
Norbert Majerholc

Norbert Majerholc

Partner, Paris

T +33 1 55 04 16 60

T +33 1 55 04 15 15

E [email protected]

in LinkedIn profile

“He understands the situation and finds pragmatic solutions. He also has sound business judgement which is rare.” (Chambers Europe 2016)


Head of White & Case's Paris Tax Division, Norbert guides clients in complex matters relating to French and international tax law, mergers and acquisitions, and group structure reorganizations.

His clients, drawn from a range of industries, in particular private equity funds, real estate, luxury goods, and chemicals and pharmaceuticals, value his conceptually sophisticated, but shrewd and down-to-earth tax advice. Norbert has developed a particularly strong track record of helping investment funds to structure investments and management packages

Clients to have benefited from his insight and experience include IK Investment Partners, KKR, Legris Industries, Qualium, Cobepa, BC Partners, Carlyle, Wendel Investissements, Chequers and Eurazeo

In addition, Norbert provides tax advice to individual clients, who seek his guidance in particular regarding their personal holding companies, trusts and estates, and international tax planning for personal investments. He also often supports clients by defending them in tax audits, applying for tax rulings on their behalf, and by representing them in litigation before French and European tax courts.

Bars and Courts

  • Paris Bar


  • DEA, Business Law, University of Paris I Panthéon-Sorbonne


  • French
  • English


Smartbox 167 million financing (2017)

Advising Smartbox Group, the European champion of experience vouchers and gift cards, on the closing of a 167 million financing from four leading European financial institutions: Crédit Agricole Corporate and Investment Bank, Allied Irish Banks, Crédit Suisse International Wealth Management and Caixabank.

Ingenico Group (2017)

Advised Ingenico Group, the global leader in seamless payments, on its €1.5 billion acquisition of Bambora, a fast-growing global player in the payments industry, from private equity firm Nordic Capital.

Sale of Ensival Moret (2017)

Advising Moret Industries on the tax aspects of the sale of their pump manufacturer Ensival Moret, a part of Moret Industries, to the Swiss listed group Sulzer. The enterprise value for the transaction was €80 Million.

European Homes reorganisation and sale of minority stake (2017)

Advising Financière Eurinter, European Homes HP2 and the existing shareholders of Financière Eurinter in connection with tax aspects of the reorganization of the share capital of the French real estate developer European Homes and the sale of minority stake to a consortium of financial co-investors.

Cobepa (2012-2017)

Representation of Cobepa, an independent privately held investment company, on a number of transactions including:

- together with Ulran SA, on the tax aspects of its strategic growth investment from TA Associates in Babilou, a leading private network of day care facilities, of which Cobepa has been a shareholder since 2013, and the restructuration and refinancing of the Babilou Group;

- on the French tax aspects of the acquisition of the French company Exclusive Networks, Europe's leading independent value-added distributor (VAD) for the EMEA region, specialising in the marketing of solutions for businesses in the areas of cybersecurity, data centres and associated value-added services. It was awarded "Private Equity Deal of the Year in France" by Le Magazine des Affaires in 2015; and

- on its acquisition of a majority stake in Group Socotec from Qualium Investissement, and in connection with the acquisition of a minority stake in Babilou, from Alpha Private Equity.

Exxelia refinancing (2017)

Advising Exxelia, a global leading manufacturer of customised passive components, on the tax aspects of the refinancing of its debt.

Eurazeo's acquisition of Mondelez European chocolate and confectionery brands (2017)

Representation of Eurazeo, one of the largest European listed investment companies, on the tax aspects of the acquisition from Mondelez International of certain assets in the confectionery products business, including a portfolio of local heritage confectionary brands (Poulain, Carambar, Krema, La Pie Qui Chante and Terry’s - 5 plants located in France), and in the creation of a new independent group, CPK Group.

€312 million sale of Ciments Français (2016)

Advising Ciments Français, listed France based manufacturer of cement and related construction materials, on the tax aspects of the €312 million sale of Compagnie des Ciments Belges SA to Cementir Holding SpA, a listed Italy-based cement producer.

US$2.9 billion sale in the Luxury Hotel industry (2016)

Representation of FRHI Holdings Limited (FRHI), Qatar Investment Authority (QIA) and Kingdom Holding Company of Saudi Arabia (Kingdom) on the French tax aspects of the US$2.9 billion stock-and-cash sale of FRHI, the parent company of luxury hotel brands Fairmont, Raffles and Swissôtel, to AccorHotels (Accor). The transaction is subject to customary regulatory approvals from the antitrust authorities and shareholder approval.

US$1.5 billion acquisitions for Casino Groupe (2015)

Advising Almacenes Éxito on the French tax aspects of the acquisitions of a 50% stake in the French company Ségisor, which indirectly controls GPA for approximately USD 1.4 billion, and of a 18.8% stake in Companhia Brasileira de Distribuicaos from Casino Guichard Perrachon SA. This deal was awarded "M&A Deal of the Year" by Latin Lawyer in 2016.

Awards & Recognition

Leading Lawyer, Chambers Europe 2017, Chambers Global since 2014

Tax – France