Communiqué Tax Law Employment and Social Security Law Private Equity Environmental Law Wealth and Asset Management Public Law and Public Procurement Law European Law Real Estate and Construction M&A | 27/09/21 | 3 min. | Julien Wagmann Ruben Grouchka François Richard Anaïs Qureshi Vincent Brenot Philippe Lorentz Elie Bétard Emmanuel Weicheldinger
August Debouzy is advising Caisse des Dépôts in connection with the exclusive negotiations that are currently being conducted with Tikehau Capital. The alternative asset management group has submitted a binding offer to acquire a 42% stake in its subsidiary Egis, a specialist in engineering, construction and mobility services.
Egis is France's leading engineering company and a subsidiary of Caisse des Dépôts. It creates and operates smart infrastructure and buildings capable of responding to the challenges of climate change, by enabling more balanced, sustainable and resilient regional development. Tikehau Capital's acquisition of a stake in Egis would represent a major step in the development of the company, which aims to become one of the leading players in the area of smart and sustainable infrastructure.
The contemplated transaction is intended to accelerate Egis' growth, with the aim of doubling its revenues within a period of five years and strengthening its international presence. It is part of the investment strategy of Tikehau Capital's fund dedicated to the energy transition, T2 Energy Transition, which supports European companies that contribute to the transition towards a low-carbon economy. Tikehau Capital was selected through a competitive bidding process.
At the end of the contemplated transaction, Tikehau Capital would hold 40% to 44% of Egis' capital, while Caisse des Dépôts would retain 34% alongside executive partners and employees. Caisse des Dépôts would continue to support Egis over the long term, alongside Tikehau Capital and executive partners and employees, where appropriate, with an active involvement in the company's governance.
The acceptance of Tikehau Capital's offer would take place, where appropriate, at the end of the information/consultation procedure with the Egis group's employee representative bodies. The contemplated transaction could be completed by the end of 2021, subject to the approval of the relevant administrative and regulatory authorities.
August Debouzy is assisting Caisse des Dépôts in this transaction. The team is composed of Julien Wagmann (Partner), Ruben Grouchka and François Richard (Associates) for the corporate aspects, Vincent Brenot (Partner) and Emmanuel Weicheldinger (Associate) for the public law and regulatory aspects, Anaïs Qureshi (Partner) for the labour law aspects and Philippe Lorentz (Partner) and Elie Bétard (Associate) for the tax aspects.