August & Debouzy on the acquisition by CNP Assurances of a majority interest in Géosud from Total, Géostock (a subsidiary of Vinci group) and Inéos

Communiqué Wealth and asset management Tax Law Private Equity IT and Data Commercial and international agreements Corporate - M&A Public Law and Public Procurement Law Competition and Distribution Law Employment law and social security law Environmental law Real Estate and Construction | 03/03/16 | 1 min. | Vincent Brenot Florence Chafiol Virginie Devos Philippe Lorentz Julien Wagmann Elie Bétard Nathalie Lengaigne

Banking & Insurance

On December 14, 2015, CNP Assurances had announced that they had signed a definitive agreement to acquire a majority interest in Géosud from Total, Géostock and Inéos, with Total and Inéos transferring their entire stake of respectively 56.07% and 13.93% to CNP Assurances and Géostock retaining a minority shareholding of 2%.

Géosud holds a 50% interest in GIE Géométhane, an entity that was created in partnership with Storengy (a subsidiary of the Engie group) and operates underground natural gas storage facilities in Manosque.

The transaction, which was subject to specific conditions precedent, including regulatory conditions, now satisfied, was finalised on February 17, 2016.

August & Debouzy’s team who advised the sellers included, regarding the corporate and transactional aspects, Julien Wagmann (partner), Pierre-Antoine Degrolard and Léa Karagueuzian, regarding the regulatory aspects, Vincent Brenot (partner) and Laurène Deville, regarding the tax aspects, Philippe Lorentz (partner) and Elie Bétard, regarding the commercial contracts and IP/IT aspects, Florence Chafiol (partner) and Coralie Vaissière, and regarding the labour law aspects, Virginie Devos (partner) and Nathalie Lengaigne (counsel).

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