Bredin Prat advises the government agency responsible for managing the French State’s shareholdings – Agence des Participations de l’État (APE) – on the planned sale of strategic shareholding interests to Caisse des Dépôts

Bredin Prat is advising the government agency responsible for managing the French State’s shareholdings, Agence des Participations de l’État (APE), in connection with the conclusion of an agreement between the French State and Caisse des Dépôts relating to the planned sale of its shareholding interest in Société pour le Logement Intermédiaire (SLI), an operator in the low-rent accommodation sector, and its shareholding interests in ATMB, the concession holder which operates the Mont-Blanc tunnel, and in SFTRF, the concession holder which operates the Maurienne and Fréjus tunnels and motorways in the Alps.

These transactions are in line with the strategic review carried out by APE in 2025, aimed at focussing the State’s shareholdings on the most strategic undertakings in terms of sovereignty and national security, while at the same time reinforcing the role of Caisse des Dépôts in housing, infrastructure and local development.

The Bredin Prat team advising Agence des Participations des l’État included:

• Corporate: Patrick Dziewolski (partner), Margaux de Bourayne, Camille Le Dantec, Chloë Bauchet and Tom Laborie
• Public Law: Guillaume Léonard (counsel), Anthony Bron and Pierre-Alexandre Desgranges
• Infrastructure Law: Gabrielle Reddé (counsel) and Laurine Gynouves
• Competition Law: Olivier Billard (partner) and Marie Minetto
• Tax Law: Pierre-Henri Durand (partner), Amaury de Galbert (counsel), Charlotte Decommer and Sélène d’Alençon
• Financial Services Regulation: Bena Mara (counsel), Arnaud Caillat and Matthias Aydin