VINCI Concessions Increases its Stake in LISEA, Concessionaire for the South Europe Atlantic High-Speed Line

1 minute read | October.11.2024

Version Française : Orrick conseille VINCI Concessions sur l'augmentation de sa participation dans LISEA, concessionnaire de la ligne ferroviaire à grande vitesse Sud Europe Atlantique

VINCI Concessions has increased its stake in LISEA, the concessionaire of the South Europe Atlantic High-Speed Line (LGV SEA) between Tours and Bordeaux in France.

Orrick advised VINCI Concessions.

THE DEAL

In spring 2024, LISEA shareholders Ardian and Caisse des Dépôts et Consignations announced their intention to jointly sell 26.24% of the company's capital. VINCI Concessions and Meridiam, already shareholders of LISEA, have decided to increase their respective stakes.

The transaction was signed on October 9, 2024. After the transaction is completed, VINCI Concessions will hold 42.045% of LISEA shares (compared to 33.4% previously). Meridiam will hold 41.945%, with Caisse des dépôts et consignations holding the balance.

VINCI Concessions' decision to increase its stake reflects its confidence in LISEA's operational, financial and business development prospects within the context of the opening up of the high-speed rail market in France.

THE TEAM

Orrick’s Patrick Tardivy advised VINCI Concessions on corporate aspects of the deal, Patrick Hubert on competition law and Paul Loisel on financing elements.

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Related Lawyers

Patrick Tardivy Partner, Mergers & Acquisitions, Private Equity

Paris

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Practice:

Energy & Infrastructure Sector
Mergers & Acquisitions
Private Equity
Infrastructure
Energy
Real Estate
Capital Markets

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Patrick Tardivy Partner

Paris

Patrick advises French and international companies and investors on all aspects of corporate law in the context of acquisitions, disposals, mergers, reorganizations, including business carveouts and strategic alliances.

Patrick is particularly active in the energy and infrastructure fields as well as the tech sectors, working alongside investment funds, French and foreign groups, on both domestic and cross border transactions. Patrick also has significant experience in M&A projects with a focus in the real estate sector where he acts as lead counsel on high-profile transactions.

Recognized by the major international ranking guides, Patrick is valued by his clients for his "business sense is exceptionally useful; he knows our business model and what we are capable of achieving. There is a mutual sense of trust" (Chambers Global 2024). “Patrick has an impressive work force. It strives to always be innovative at the service of its customers in order to make them benefit from the latest market trends (W&I insurance for example)”. (Legal 500 EMEA 2023).

Prior to joining Orrick in 2016, Patrick was a partner in a Magic Circle law firm.

Patrick Hubert Partner, Antitrust & Competition, Strategic Advisory & Government Enforcement (SAGE)

Paris

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D:+33 1 5353 7500
E: [email protected]

Practice:

Antitrust & Competition
Strategic Advisory & Government Enforcement (SAGE)

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Patrick Hubert Partner

Paris

This breadth of experience has allowed him to become a leading authority in the field of antitrust, but his background helps him borrow ideas from anywhere – finding imaginative solutions for the legal and business challenges his clients face.

Patrick has long been a trailblazer in his field. For example, years before private compliance programs became commonplace, Patrick persuaded his clients to dedicate resources to compliance policies, thus being one of the first to encourage proactive rather than strictly reactive actions. In France, he was one of the first to launch antitrust recovery claims and to work on a private standalone claim, without any precedent from the regulator. Acting on the plaintiff side, he obtained what was at that time the highest fine ever imposed on a dominant company (350 M€).

He is currently handling private claims totaling more than 5 billion euro, advising global tech companies and other multinationals in French and EU competition matters, including merger control filings, cartel and abuse of dominance investigations, state aid and compliance work, as well as private damages actions before the French courts. In addition, he serves as vice chairman of the competition commission of the International Chamber of Commerce and chairs its merger control working party.

Paul Loisel Partner, Energy & Infrastructure, Banking & Finance

Paris

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D:+33 1 5353 7291
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Practice:

Energy & Infrastructure Sector
Energy & Infrastructure
Banking & Finance
Renewable Energy
Power
Africa

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Paul Loisel Partner

Paris

Paul's practice focuses on project finance and strategic acquisition transactions in energy and infrastructure.

He advises sponsors and financiers on large greenfield and brownfield project financings, both cross-border and domestic, primarily in France, in EMEA and Africa.

He brings exceptional knowledge in structuring and financing of public-private, transport, telecom, energy transition, social infrastructure and real estate projects.

Paul also regularly advises clients in the fast-growing EnergyTech and InfraTech sectors.

He has extensive experience on all types of financings (senior, junior, mezzanine, loans, bonds) and related derivative instruments.

More generally, Paul advises on financing aspects of strategic assets in connection with project finance, M&A/private equity or restructuring transactions.

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