Orrick Advises AXA République in Sale of Stake in Sanef


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Orrick’s Paris team assisted AXA République and its asset manager in relation to the sale of the company’s shareholding in Holding d’Infrastructure de Transports (HIT). HIT is an investment vehicle controlling 100% of the share capital and voting rights of Sanef, which operates 2,063 km of motorways in France.

The transaction included:

  • AXA République’s February 2017 acquisition of additional shares in HIT from Caisse des Dépôts (CDC).
  • AXA République’s March 2017 sale of its entire shareholding in HIT (including the shares acquired from CDC) to existing HIT shareholders Abertis, Prédica and CNP Assurances. 

The Orrick team included Yves Lepage, Patrick Tardivy, Guillaume Vitrich and Cécile Renaud on the corporate aspects; Anne-Sophie Kerfant and Rudy Marouani on French tax aspects; and Stefan Schultes-Schnitzlein and Markus Piontek on the German tax aspects.