Bredin Prat advises the iliad Group in connection with the planned acquisition of SFR

Bredin Prat is advising the iliad Group in connection with the signing of a memorandum of understanding with Altice France for the acquisition of SFR by a consortium comprising the iliad Group, Bouygues Telecom and Orange, one of the largest transactions in Europe in the telecoms sector.

The relevant assets of Altice France that would be acquired under the contemplated transaction represent an enterprise value of €20.35 billion, subject to certain closing adjustments, including a potential earn-out of up to €0.65 billion.

The transaction would notably enable the iliad Group to increase its customer base and sustainably reinforce its investment and innovation capacities to prepare for the extensive digital transformations that lie ahead.

The transaction is subject to consultation with the relevant employee representative bodies and to regulatory clearance.

The Bredin Prat team advising the iliad Group included:

• Corporate: Florence Haas, Olivier Assant and Jean-Benoît Demaret (partners), Ferdinand Barbé (counsel), Bénédicte Erbin, Grégoire Hostein and Mehdi Ercoli-Mekhalfa
• Tax law: Julien Gayral and Anne Robert (partners), Amaury de Galbert (counsel), Simon Weber and Sélène d’Alençon
• Competition law: Yelena Trifounovitch (partner), Yohann Chevalier (counsel), Sophie White, Léna Guillaume and Elvire Jolimoy
• Employment law: Laetitia Tombarello (partner), Audrey Demourgues, Melchior Bebey and Sara Irving
• Financing: Samuel Pariente (partner), Benjamin Cartier and Floriane Danckof
• Digital law and intellectual property: Juliette Crouzet (partner) and Félix Marolleau
• Public law: Guillaume Léonard (counsel) and Anthony Bron
• Litigation: Tom Vauthier (partner)
• Criminal law: Martin Horion (partner) and Hubert Pouradier Duteil