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August Debouzy has advised Banque des Territoires (Caisse des dépôts et consignations group) on its acquisition of an equity interest in TDF Fibre
Communiqué | 21/02/22 | 1 min. | Julien Wagmann Maxime Legourd Sophie Faulcon Alexandra Berg-Moussa Thibaut Amourette Vincent Brenot Philippe Lorentz Elie Bétard Marie Valentini
TDF and Banque des Territoires have taken another step forward in their partnership, with the acquisition by Banque des Territoires of an equity interest in TDF Fibre, a company previously wholly owned by TDF. At the same time, a €735 million bank financing has been raised from Société Générale Corporate & Investment Banking and Crédit Agricole Corporate & Investment Banking.
Banque des Territoires thus becomes a shareholder of TDF Fibre, which holds 100% of the capital of the project companies Val d'Oise Fibre, Yvelines Fibre, Val de Loire Fibre and Anjou Fibre. These four project companies of the TDF group deploy, operate and market fiber optic networks in the low-density areas of the French departments Val d'Oise, Yvelines, Loir-et-Cher, Indre-et-Loire and Maine-et-Loire.
This transaction, which takes place at a time when the fiber rollouts in the territories awarded to TDF are well underway or nearing completion, simplifies the shareholding structure of TDF Fibre: TDF and Banque des Territoires now hold 79.5% and 20.5% of the capital, respectively.
August Debouzy has advised Banque des Territoires, with a team composed of Julien Wagmann (partner), Maxime Legourd (senior lawyer) and Sophie Faulcon (lawyer). We have also advised Banque des Territoires during the due diligence phase: Alexandra Berg-Moussa (partner) and Thibaut Amourette (lawyer) on the contractual aspects, Vincent Brenot (partner) on the public law aspects, Philippe Lorentz (partner) and Elie Bétard (senior lawyer) on the tax aspects and Marie Valentini (counsel) on the litigation aspects.