Freshfields Bruckhaus Deringer has advised the French Government on a merger deal that is set to create the second-largest bank in the country, with a combined equity of €40bn (£36bn). Leading French banks Caisse d'Epargne and Banque Populaire finalised a tie-up yesterday (26 February), with both establishments advised by a raft of French independents.As part of the arrangement, the French state has agreed to become a direct shareholder - taking a 20% stake in the combined bank. The name of the combined entity will be CEBP, effective as of June.Freshfields Paris-based securities and M&A partner Patrick Bonvarlet advised the French Government, while Bredin Prat acted for Banques Populaires. Veil Jourde, Gide Loyrette Nouel and Darrois Villey Maillot Brochier all won roles for Caisses d'Epargne.
February 27, 2009 at 06:19 AM
1 minute read
The original version of this story was published on Legalweek
Freshfields Bruckhaus Deringer has advised the French Government on a merger deal that is set to create the second-largest bank in the country, with a combined equity of €40bn (£36bn).
Leading French banks Caisse d’Epargne and Banque Populaire finalised a tie-up yesterday (26 February), with both establishments advised by a raft of French independents.
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