News
Freshfields advises DIF Capital Partners on its contemplated acquisition of TDF’s fibre business
Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) is advising DIF Capital Partners on its exclusive negotiations with TDF and Banque Des Territoires in relation to the proposed acquisition (via its DIF Infrastructure VII fund) of the fibre business of the TDF Group.
TDF Fibre is a French fibre company owned by TDF (79.5%) and Banque des Territoires (20.5%). The company owns four public-initiative networks under concession agreements that are all fully operational: Val d’Oise Fibre, Val de Loire Fibre, Anjou Fibre and Faucigny Glières Fibre, and one wholly-owned network: Yvelines Fibre.
The investment being considered by DIF Capital Partners will enable TDF Fibre to continue bringing its recognized expertise to the benefit of local authorities, individuals and businesses, as well as to pursue development opportunities in existing and new territories.
This transaction, which is being negotiated, will require the implementation of the information and consultation process with the relevant French employee representative bodies, and could be completed by the end of 2024, subject to satisfaction of the customary conditions precedent.
The Freshfields team was led by Sami Jebbour (Corporate/M&A, Paris) and included:
Partners:
Pascal Cuche (Public law, Paris), Fabrice Grillo (Finance, Paris), Jerome Ranawake (Finance, New York), Christel Cacioppo (Employment, Paris), Jérôme Philippe (Competition, Paris), Vincent Daniel-Mayeur (Tax, Paris), Anne-Laure Vincent (Litigation, Paris)
Counsel:
Tanguy Bardet (Public law, Paris), Greg Kahn (Finance, New York)
Senior Associates:
Myriam Khetib-Khatiri (Corporate/M&A, Paris), Louise Bragard (Public law, Paris), Lou Bernard (Finance, Paris), Faustine Holderith (Competition, Paris), Béatrice Collette (Litigation, Paris)
Associates:
Kamil Zizi and Sarah Emile (Both Corporate/M&A, Paris), Léa Hirschi (Public law, Paris), Maha Alami (Finance, Paris), Clémence Bossée Pilon and Jeanne Viscovi - De Laender (both Employment, Paris)
Eight Advisory Avocats also advised DIF on the tax law aspects of the transaction.
Hogan Lovells and De Pardieu Brocas Maffei advised TDF and Banque des Territoires respectively on the transaction.
