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Darrois Villey Maillot Brochier advised Eurosic in the context of the litigation with Gecina

By a ruling dated 12 January 2017, the Paris Court of Appeal put an end to the battle between Gecina and Eurosic to acquire control of Foncière de Paris. After the deadline to appeal the AMF decision which had cleared Eurosic’s tender offer as compliant, Gecina and the ADAM had asked the AMF withdraw such decision, alleging that it would have been fraudulently obtained. The AMF having refused to do so, Gecina and the ADAM had brought the dispute before the Paris Court of Appeal. The Court rejects their appeal.

Notwithstanding such appeal, the Paris Court of Appeal’s president had maintained the closing of Eurosic’s and Gecina’s competing bids as at 15 September 2016. Eurosic’s stake had then reached 76% of Foncière de Paris’s share capital, increased to 99% after its offer had been reopened. Eurosic disclosed its intention to ask for the squeeze-out to be implemented.

The DVMB team includes Emmanuel Brochier, Marcus Billam, Nicolas Mennesson, Jean-Baptiste de Martigny and Julie Pasternak.

De Pardieu Brocas Maffei and Weil Gotshal & Manges also advise Eurosic in this litigation.