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Corporate/M&A

France

Regardless of the nature of your company, whether you are listed or not, whether you are a multinational, a family group, an institutional investor, an investment fund, a manager, an entrepreneur, a unicorn or a start-up, we can offer you personalised, tailored and innovative solutions in all fields of transactional and corporate law such as M&A, private equity, capital markets, restructuring, IPOs and privatisations.

Located at the heart of CMS's strategy, Corporate/M&A has undergone significant expansion in France and internationally, with our dedicated Corporate/M&A team now totalling around 40 lawyers in France and 700 abroad.

We have built expertise in every sector, particularly in banking, consumer products, energy, infrastructure, insurance, life sciences, the hotel industry, real estate and construction, technology, and media. As a result of this expertise, we can determine the strategic issues and risks specific to your business. We can gain an understanding of your problems regarding a particular transaction and assist you with creative, relevant advice.

Our team can assist you with all aspects of Corporate/M&A, both in France and abroad. In particular, the Corporate/M&A department has earned a first-rate reputation in the following fields:

M&A: we support our clients (industrial players, funds, entrepreneurs, etc.) in M&A cases of all kinds (disposals, acquisitions, spin-offs, private equity, joint ventures, venture capital, etc.). Our department includes lawyers with particular expertise in cross-border transactions involving several countries.

For all transactional business, we are fortunate to be able to rely on the firm's other areas of expertise in terms of tax law (structuring, etc.), employment law (employee information/consultation, etc.), competition (antitrust clearance, etc.), real estate, regulatory issues, and acquisition financing, in addition to our unique presence in locations all over the world.

Listed and non-listed corporate law: we have developed a rare and innovative practice with expertise in listed and non-listed corporate law. We are able to deal with all complex issues, particularly equity operations (capital transactions, issuing securities, etc.), reorganisations and restructuring (mergers, contributions, cross-border mergers, international reorganisations, etc.), profit-sharing mechanisms for managers and executives, company governance, and financial markets law (regulated information, market transactions, ECM, DCM, etc.).

In particular, we use the firm's expertise in fiscal and employment law, the presence of the CMS network, and a doctrine team formed of lawyers, law professors (Sorbonne, HEC, Nanterre, etc.) and former government officials (the French Financial Markets Authority (Autorité des marchés financiers – AMF), the Council of State, etc.). We are also involved in authoring a number of articles and reference documents (e.g. Mémento Sociétés Commerciales, Editions Francis Lefebvre). In addition, we participate in consultations organised as part of planned legislative reforms.

M&A litigation/corporate law: with support from the Dispute Resolution department, we also deal with all of your disputes regarding corporate law and M&A transactions (conflicts between partners, enforcement of liability guarantees, liability lawsuits against executives, cases before the AMF, etc.).

Family businesses: In addition, we also have particular and relevant expertise regarding family businesses (SMEs) and their shareholders, and offer cross-disciplinary advisory services that cover your needs in terms of family governance, handover of the company, succession, and inheritance tax.
Alongside our tax department's expertise, our lawyers rely on a team of specialist inheritance lawyers and on the advice of other industry players (notaries, private banks, etc.).

Rankings/testimonials: for many years, our Corporate/M&A practice has regularly been listed in the Top 5 of rankings such as Bloomberg, Mergermarket, and Thomson Reuters.

Our practice is also listed in the most widely recognised guides, such as Chambers, IFLR, and Legal 500. For example, our entry in the 2015 edition of Chambers Europe reads:
"Significant practice with recognised experience in the complex field of mid-market M&A. Offers cross-practice expertise from members of teams such as tax, employment and litigation to provide assistance on corporate matters. Significant sectors of focus include energy, life sciences and consumer goods." Customer testimonials: "Nothing short of fantastic; the lawyers were fully focused, extremely dedicated, very pragmatic and, most importantly, very commercial." "Its lawyers had a great understanding of our needs and were available at all times."

Noteworthy clients: Saint-Gobain, Axa, Coface, Nissan, Accor, Compagnie Fruitière, General Electric, Vivalto Santé, Générale de Santé, 21 CP, NGE, and more...

CMS Francis Lefebvre Avocats was named “France M&A Legal Adviser of the year 2017” by the Mergermarket European M&A Awards. The awards are granted for creative advisory work on complex transactions. The rigorous judging process starts with an analysis of M&A league table data to identify the top-ranked firms.

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    Our Cor­por­ate/M&A Team
    CMS European M&A Study 2017
    18/09/2017
    As­sist­ing you in your cor­por­ate, stock mar­ket, M&A...

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    Peter Huber
    September 2017
    CMS European M&A Out­look 2017
    A study of European M&A activ­ity
    13/09/2017
    The ap­plic­a­tion of EU mer­ger con­trol cla­ri­fied: no EC no­ti­fic­a­tion...
    In the first ever pre­lim­in­ary rul­ing on the EU mer­ger con­trol re­gime, the Court of Justice of the European Uni­on ("CJEU") brought much needed clar­ity on wheth­er the shift from sole con­trol to joint con­trol in an ex­ist­ing un­der­tak­ing is covered by the EU Mer­ger.
    07/08/2017
    Our Cor­por­ate/M&A Prac­tice
    An In­tro­duc­tion
    26/06/2017
    The Re­cast EU In­solv­ency Reg­u­la­tion be­comes ef­fect­ive today
    Since May 2002, we have had a re­gime which en­sures that an in­solv­ency pro­ceed­ing star­ted in one of the EU’s mem­ber states is, without fur­ther form­al­ity, re­cog­nised in all oth­er mem­ber states (ex­cept for Den­mark) and which de­term­ines the law ap­plic­able to such.
    10/02/2017
    In­dia Budget 2017 - 2018
    On 1 Feb­ru­ary, Fin­ance Min­is­ter Ar­un Jait­ley presen­ted In­dia’s an­nu­al Uni­on Budget for 2017-2018 (the “Budget”) for the fisc­al year be­gin­ning 1 April 2017. The cent­ral aim in this year’s Budget ap­pears to fo­cus on the most vul­ner­able with in­creased spend­ing.
    28/10/2016
    European Com­mis­sion pub­lishes Cor­por­ate Tax Re­form Pack­age, re­launch­ing...
    As part of a Cor­por­ate Tax Re­form Pack­age, the EC has pub­lished four pro­pos­als for Coun­cil Dir­ect­ives. 1. Pro­pos­als to re­launch the Com­mon Con­sol­id­ated Cor­por­ate Tax Base First, the European Com­mis­sion (“EC”) has an­nounced that it is re­launch­ing its pro­pos­al.
    19/10/2016
    European Com­mis­sion pub­lishes a study on minor­ity share­hold­ings for...
    Back­ground On 14 Oc­to­ber 2016, the European Com­mis­sion pub­lished a “sup­port study” pre­pared at its re­quest to in­form its re­view of the EU Mer­ger Reg­u­la­tion (EU­MR) re­lat­ing to minor­ity share­hold­ings.
    13/10/2016
    The European Com­mis­sion seeks views on pro­ced­ur­al and jur­is­dic­tion­al...
    Back­ground On 7 Oc­to­ber 2016, the European Com­mis­sion pub­lished a ques­tion­naire seek­ing feed­back on cer­tain pro­ced­ur­al and jur­is­dic­tion­al as­pects of the EU mer­ger con­trol re­gime. This ini­ti­at­ive fol­lows the Com­mis­sion’s 2014 White Pa­per “To­wards More Ef­fect­ive.
    11/10/2016
    The European Com­mis­sion seeks views on pro­ced­ur­al and jur­is­dic­tion­al...
    Back­ground On 7 Oc­to­ber 2016, the European Com­mis­sion pub­lished a ques­tion­naire seek­ing feed­back on cer­tain pro­ced­ur­al and jur­is­dic­tion­al as­pects of the EU mer­ger con­trol re­gime. This ini­ti­at­ive fol­lows the Com­mis­sion’s 2014 White Pa­per “To­wards More Ef­fect­ive.
    20/09/2016
    When the Dust Settles: Cross-bor­der re­struc­tur­ing and in­solv­ency after...
    As the dust be­gins to settle after the EU ref­er­en­dum and the po­ten­tial rami­fic­a­tions of Brexit con­tin­ue to be di­ges­ted, we ex­am­ine the po­ten­tial im­pact of Brexit on the UK cross-bor­der re­struc­tur­ing and in­solv­ency re­gime and its con­sequences for the UK’s repu­ta­tion.
    02/06/2016
    Con­di­tion­al mer­ger clear­ance for ma­jor European beer brew­ers
    The £71 bil­lion SAB­Miller takeover by AB In­Bev was cleared by Com­mis­sion de­cision M. 7881 on 24 May 2016, sub­ject to the di­vestit­ure of SAB­Miller’s European busi­ness. AB In­Bev is the world’s largest brew­er and the third largest brew­er in Europe by volume.