The law firm Ashurst LLP has advised Crédit Agricole SA in it’s sale of Credit Agricole Private Equity (CAPE) to Coller Capital. The sale is subject to authorisation from the competent authorities, which should be obtained in the first quarter of 2012.
Crédit Agricole SA’s decision to sell CAPE forms part of a plan to optimise capital allocation and refocus the bank’s private equity activities on local business. The sale will reduce Crédit Agricole SA’s risk-weighted assets by about EUR900 million. Crédit Agricole SA will continue to provide financing for SMEs through the private equity vehicles owned by Crédit Agricole Regional Banks, as well as through IDIA, a Crédit Agricole Group partner that provides equity and quasi equity financing to agrifood companies and agribusinesses.
Ashurst LLP advised Crédit Agricole SA and CACIF on this transaction with partner Xavier Comaills and counsel Franck Coudert, assisted by associates Isaure Sander, Julien Rebibo and Marie Preat, in charge of the corporate and funds aspects. Partner Diane Sénéchal and associate Marie Roche advised on the financing aspects and partner Nadine Gelli and associate Priscilla van den Perre on the tax law aspects. Crédit Agricole S.A. and CACIF were advised by the investment bank Arjil and in particular by Jean-Frédéric de Leusse, Jean-François Court and Pierre Moullade.
CAPE was advised by law firm Godet Gaillard Solle Maraux & Associés with partner Marc Baffreau and associate Sandra Matas.
Law firms O’Melveny & Myers with partner John Daghlian and Morgan Lewis with partners Ann Baker and Anne Tolila advised the buyer on this transaction.
