PRESS RELEASE – DELSOL Avocats assists Caisse des Dépôts et Consignations with the acquisition of an equity stake in Hôtel du Palais in Biarritz
- 13 novembre 2020
- Philippe MALIKIAN, Julien MONSENEGO
- Mergers & Acquisitions - Corporate law, Tax law
- Deals
DELSOL Avocats assisted Caisse des Dépôts et Consignations (CDC) with its acquisition, through Banque des Territoires, of a minority stake in the semi-public company (SOCOMIX) operating the Hôtel du Palais in Biarritz.
CDC is acquiring part of the shares held by Biarritz City Council and JC Decaux Holding for a total of €1.23 million, following the exit of Compagnie Financière du Louvre at the end of 2019. This acquisition will include current account contributions by CDC and existing shareholders to finance a new phase of renovation work initiated in 2018.
The Hôtel du Palais is a luxury hotel in Biarritz, run by the Hyatt group. It was particularly the venue for the G7 summit in 2019.
DELSOL Avocats assisted Caisse des Dépôts et des Consignations with a team including
- partner Philippe MALIKIAN and associate Alexia DEMONCHY on the corpotrate aspects ;
- partner Julien MONSENGO and associate Clément GUITET on the tax aspects.