Darrois Villey Maillot Brochier advises Groupe BPCE on the proposed public tender offer (“offre publique d’achat simplifiée”) on Natixis’ shares, potentially followed by a mandatory squeeze-out

Paris, 11 February 2021

Darrois Villey Maillot Brochier advises BPCE S.A., Natixis S.A.’s majority shareholder, on its intent to acquire the c. 29.3% of Natixis S.A.’s capital it does not already own through the filing of a proposed public tender offer (“offre publique d’achat simplifiée”), potentially followed by a mandatory squeeze-out.

Natixis’ board of directors positively welcomed the proposed offer and will release an informed opinion on the terms of the tender offer in due course, in light of the work of an independent expert appointed to opine on the financial terms of the tender offer and, as the case may be, the mandatory squeeze-out.

This public tender offer will be subject to the AMF’s review, which will assess its conformity with the relevant legal and regulatory provisions. The public tender offer will be opened after receipt of all applicable regulatory approvals.

The Darrois Villey Maillot Brochier team is led by Emmanuel Brochier, Bertrand Cardi and Laurent Gautier (partners) and includes Frederic Chevalier and Pierre Zejma on corporate and M&A aspects, together with Henri Savoie (partner), Jean-Baptiste Aubert (counsel) and Guillaume Griffart advising on regulatory aspects, Ben Burman (partner) on US securities law aspects, Martin Lebeuf (partner) advising on financing aspects and with Vincent Agulhon (partner) and Sophie Pagès advising on tax law aspects.

J.P. Morgan, d’Angelin & Co. and Fenchurch Advisory Partners are acting as financial advisers to Groupe BPCE.

Bredin Prat are acting as legal adviser to Natixis.