Darrois Villey Maillot Brochier adviseda consortium, including Allianz Capital Partners (ACP), OMERS Infrastructure and AXA IM-Real Assets, acting on behalf of its clients, on their entry into an exclusivity agreement with Altice France to acquire a 49.99% stake in SFR FttH, a company to be formed by Altice France which will hold and further develop Altice France’s existing fibre to the home business (FttH) in France.
The transaction is subject to the usual conditions for a transaction of this nature and is expected to close in Q1 2019.
SFR FttH is a newly incorporated company comprising the 5 million FttH homes in medium and low density areas awarded to Altice France to date. With approximately 1 million homes covered in FttH at year-end and an additional 4 million homes to be rolled out in the medium term, SFR FttH is the largest alternative FttH infrastructure wholesale operator in France.
The Darrois Villey Maillot Brochier team included Pierre Casanova, Ben Burman, Olivier Huyghues Despointes, Jean Baptiste de Martigny (partners), Christopher Grey, Christophe-Marc Juvanon, Charlotte Ferran, Paul Bertrand and Catherine Ambos advising on corporate/M&A aspects, Henri Savoie (partner) and Patrick Mèle (counsel) advising on French public law and regulatory aspects, Didier Théophile (partner) and Olivia Chriqui advising on Antitrust aspects and Vincent Agulhon (partner) advising on Tax aspects. A Bird & Bird team led by Stéphane Leriche (partner, head of technology & communications) was in charge of the due diligence review and advised the consortium on telecoms sector related aspects including the negotiation of the commercial agreements.