Article Environmental law Employment law and social security law Real Estate and Construction Corporate - M&A European law Wealth and asset management Public Law and Public Procurement Law Private Equity Tax Law | 11/07/11 | 1 min. | Gilles August Marie-Hélène Bensadoun Valéry Denoix de Saint Marc Philippe Lorentz Hélène Billery
On June 30, 2011, Systra’s General Meeting (Systra being a common subsidiary of the RATP and the SNCF) irrevocably adopted the reorganization project of the Systra Group decided after the signature of a negotiation agreement on October 28, 2010 between the RATP and the SNCF. The purpose of such reorganization is, in particular, the creation of an international engineering group in the field of collective public transport, by giving to Systra the sole responsibility for replying to tenders relating to public transport engineering projects internationally.
Such reorganization project gives rise to the implementation of a new governance within Systra and to the acquisition by Systra of a 49% interest in the engineering subsidiaries belonging to the RATP and the SNCF, respectively Xelis and Inexia. Such reorganization would end, within a maximum period of 2 years, with the transfer to Systra of 100 % of such subsidiaries’ share capital.
August & Debouzy assisted the RATP from the beginning of the negotiations initiated in 2010 and took part in the execution and performance of the contractual agreements formalizing the transaction: