Linklaters has advised Indosuez Wealth Management, a subsidiary of Crédit Agricole S.A., on the finalization of its acquisition of Degroof Petercam, of which it becomes majority shareholder alongside CLdN Cobelfret, its historical shareholder.
The transaction, which has obtained the required approvals from the banking and competition authorities, allows Degroof Petercam teams to join forces with Indosuez Wealth Management, creating a European leader in wealth management, with approximately ~200 billion euros in client assets, nearly 1.6 billion euros net banking income and 4,500 employees.
This acquisition is amongst the most significant transactions in the industry in the past 10 years in Europe.
CA Indosuez now controls 65% of the capital of Bank Degroof Petercam alongside CLdN Cobelfret, which holds nearly 20% of the capital. CA Indosuez will shortly submit a filing with the Belgian financial services and markets authority (FSMA) with the intention of launching a voluntary public takeover bid for the shares held by the minority shareholders of Bank Degroof Petercam.
A multijurisdictional and cross-practice team led by partners Alain Garnier, Pierre Thomet, Pierre Zelenko and Cyril Boussion in Paris, Arnaud Coibion and Etienne Dessy in Belgium and Eliane Dejardin Botelho in Luxembourg, advised Indosuez Wealth Management. The Linklaters team comprised lawyers from our Corporate, Financial Regulation, Litigation, Arbitration and Investigation, Antitrust & Foreign Investment, Tax, Employment, Technology and Data Protection and Intellectual Property practices based in our Paris, Brussels and Luxembourg offices.
With, Virgile Morel, senior associate, and Baptiste Fondeur, associate, in Corporate/M&A; Jeanne Lévy-Bruhl, senior associate, and Tanguy Laurioz, associate, in Antitrust and Foreign Investments; Ngoc-Hong Ma, partner, Laurent Benoit, counsel, Héloïse Daste and Stanislas Haurens, associates, in Banking and Financial Regulation; Géric Clomes, partner, and Netanel Taid Kashani, associate, in Employment; Philippe Ludwig, senior associate, and Hugo Moreira, associate, in Tax; and Arnaud de La Cotardière, partner, Claudia Cavicchioli, counsel, and Yasmine Sadik, associate in Litigation, Arbitration, and Investigations, Farah Alabed, senior associate, and Virginie Guerineau, associate, in Real Estate, and Thomas Feigean, associate in Technology and Data Protection in Paris. Thierry L’Homme, counsel, Jeremy Filbiche, senior associate, Anastasia Koutra and Dounya Galichon, associates in Corporate/M&A in Brussels, and Gonçalo Sampaio, senior associate in Capital Markets in Luxembourg.
