Metrovacesa to Sell Gecina Stake for $2.1 Billion


Orrick is advising Metrovacesa SA on the sale of its 26.74 percent stake in the French real estate investment trust Gecina SA for 1.55 billion euros (US$2.11 billion) to a group of investors, which include Norges Bank, Credit Agricole Assurances, Blackstone and Ivanhoe Cambridge.

The transaction is expected to be completed by the end of September and is subject to the fulfillment of certain conditions precedent in relation to the financial restructuring of Metrovacesa SA.

The Orrick team includes corporate partners Jean-Pierre Martel and Alexis Marraud des Grottes, tax partner Anne-Sophie Kerfant and M&A and private equity associate Julien Bensaid.