Orrick Advises Ardian Infrastructure on Acquisition of Majority Stake in GreenYellow

July.28.2022

Version Française : Orrick conseille Ardian Infrastructure dans le cadre de la signature d’un accord avec le Groupe Casino, Tikehau Capital et Bpifrance pour le rachat d'une participation majoritaire dans le capital de GreenYellow

Orrick is advising Ardian Infrastructure, one of the world's leading private equity firms, in connection with the signature with Groupe Casino, Tikehau Capital and Bpifrance of a unilateral commitment to acquire a majority stake in the capital of GreenYellow, in a transaction valuing the company at €1.4 billion euros.

Founded in 2007 within Groupe Casino, GreenYellow is the French pioneer in decentralized solar energy production and energy efficiency serving the energy transition of its customers, both in France and internationally. Under the terms of the agreement, the Casino Group, Bpifrance and Tikehau Capital, the historical shareholders, are reinvesting alongside Ardian.

The Casino group will retain a minority stake and will remain a leading commercial partner of the company. Bpifrance and Tikehau Capital will also reinvest part of their proceeds in the company. This project also provides for the participation of GreenYellow's management team and all employees in the capital. The transaction will be completed in the fourth quarter of 2022, subject to regulatory approvals.

The Ardian team was composed of Mathias Burghardt, Benoit Gaillochet, Pierre-Francois Dessart and Olivier Hamot.

Ardian was advised by Orrick with Yves Lepage, Patrick Tardivy and Olivier Jouffroy assisted by a team involving all the practices of Orrick’s Paris office, comprising:

Julien Beloeil, senior associate, Juliette Ritouret and Coline Berthe de Pommery, associates, for the M&A and Corporate aspects;
Geoffroy Berthon and Foucaud Jaulin, partners (Energy & Infrastructure) accompanied by Constance Boillot, senior associate, Janina Dahmouh and Carole Schertzinger, associates, for the regulatory and public law aspects;
Carine Mou Si Yan, partner, Orane Mikolajayk and Diana Harapu, associates, for the financing aspects;
Malik Idri, partner, accompanied by Maxence Jonvel and Elise Durand, associates, for the Competition Law aspects;
Julia Apostle, partner and Rami Kawkabani, senior associate, for IP/IT and Data Protection aspects;
Frédéric Lalance, partner, accompanied by Grégoire Piat and Amaury Ginet, associates, for regulatory auditing, compliance and existing litigation;
Nadège Owen, partner, accompanied by Soumaya Ouzzani and Alexandra Pawlowski, associates, for employment law issues.

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Yves Lepage Partner, Energy, Infrastructure

Paris

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

Practice:

Energy & Infrastructure Sector
Energy
Infrastructure
Mergers & Acquisitions
Funds
Africa
Latin America

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Yves Lepage Partner

Paris

Recognized by Chambers as a notable practitioner in International projects, Energy and Africa, Yves is praised for his “very good sector experience and knowledge”, as well as his “enormous negotiating skills”. With 30 years' experience in PPP, international infrastructure projects and power industry projects, Yves regularly advises operators in both the public and private sectors, government entities and financial institutions for operations in Europe, Africa and Latin America. Recently, he has led a cross-border multidisciplinary team advising Actis, one of the largest and most active private equity firms operating in Africa, in its purchase of a majority interest in three power assets in Cameroon from Fortune 200 global power company AES Corporation.

Yves also has substantial experience in privatizations and acquisitions in France and internationally with companies whose main assets are infrastructure facilities. He notably advised VINCI Airports in connection with the acquisition of nine airports and three partial management contracts following acquisition of the airport portfolio held by Airports Worldwide.

Yves is a lawyer with the Paris Appeals Court and a member of the New York Bar. He was appointed as French Foreign Trade Advisor in 1996.

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.

Olivier Jouffroy Partner, Mergers & Acquisitions, Infrastructure

Paris

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Practice:

Technology & Innovation Sector
Mergers & Acquisitions
Infrastructure
Energy
Africa
Real Estate

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Olivier Jouffroy Partner

Paris

Olivier advises French and international clients on all aspects of corporate law. He mainly intervenes in national and international mergers and acquisitions (whether public or private M&A transactions), joint-venture and equity capital market transactions. He focuses in particular in the sectors of industry, financial institution (banks and insurance companies), energy and infrastructures, and real estate investments. He regularly advises French listed companies in connection with the preparation of their draft resolutions, the calling and holding of their shareholders’ meetings and their annual reports / URD.

He is recognized as a “rising star” in M&A in Legal 500 EMEA 2020, and a notable practitioner for M&A, private equity and ECM in IFLR 1000 since 2016.

According to Legal 500 EMEA 2019 & 2020, clients praise Olivier for being “very talented and hands-on” and “a very good professional who is able to manage pressure very well”.