Orrick Advises DIF in Acquisition of Stake in French Fiber Project

Orrick's Paris team is acting for DIF Core Infrastructure Fund I, an independent and specialist fund management company, on its acquisition of Infravia’s 55% stake in the French fiber company ADTIM.

ADTIM operates a wholesale telecom network in France’s Ardèche and Drôme departments under a 25-year concession won in 2008, which is fully operational since 2011. In December 2016, ADTIM, together with its partners Axione, Bouygues E&S and Caisse des Dépôts et Consignations, won the region’s Fiber to the Home concession. This second project plans to realize 310,000 FttH connections in association with the public local authority Syndicat mixte ADN as part of France’s 2012 Ultra-Fast Broadband Plan, the nationwide plan to implement ultra-fast internet connections across the country by 2022.

The multidisciplinary Orrick team advising on this transaction is led by M&A and Private Equity partner Patrick Tardivy with the assistance of associate Alicia Bali; Public Law partner Jean-Luc Champy and associate Quirec de Kersauson; Tax partner Anne-Sophie Kerfant and associate Sebastien Journe; Antitrust partner Patrick Hubert and associates Malik Idri and Michaël Vaz D’Almeida; and Finance partner Amaury de Feydeau.