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Sullivan & Cromwell LLP

24 RUE JEAN GOUJON, 75008 PARIS, FRANCE
Tel:
Work +33 1 73 04 10 00
Fax:
Fax +33 1 73 04 10 10
Web:
www.sullcrom.com

France

Insurance
Other recommended firms - ranked: tier 1

Sullivan & Cromwell LLP

Leading individuals

William Torchiana - Sullivan & Cromwell LLP (regulatory and corporate)

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Mergers and acquisitions
Mergers and acquisitions - ranked: tier 3

Sullivan & Cromwell LLP

Sullivan & Cromwell LLP has strength in domestic and cross-border transactions, mostly in the upper-mid-market and large-cap sections. Olivier de Vilmorin and senior counsel Patrick Bonvarlet are key names for private and public M&A matters. The pair advised French company Elis on its acquisition of Berendsen, assisted Euro Disney with The Walt Disney Company’s tender offer and squeeze out, and acted for Delta Air Lines on its agreement with Air France – KLM to acquire a 10% stake in Air France through a capital increase. The team also handled work for Rhône Capital, Goldman Sachs, and EDF Invest, among others.

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Tax
Tax - ranked: tier 1

Sullivan & Cromwell LLP

The ‘very "haut de gamme"’ Sullivan & Cromwell LLP is recommended for ‘high value complex matters’, its ‘quality of advice is outstanding’ and goes hand-in-hand with ‘perfect response times and business acumen’. The impressive six-lawyer team stands out for its ability to attract the market's most high-profile M&A and tax litigation instructions and recently earned a series of victories in several landmark cases. Representing a group of CAC 40 companies, the firm won twice before the Supreme Court and the European Court of Justice in the 3% tax on dividends case. Acting for Orange, the firm was successful before the Conseil d’Etat in a €10bn tax reassessment case. And on the M&A front, the practice assisted Air Liquide with its €12bn acquisition of Airgas. Gauthier Blanluet ‘is quite unique’ and is universally acknowledged as being among the market's finest experts. Nicolas de Boynes is following in his footsteps.

Leading individuals

Gauthier Blanluet - Sullivan & Cromwell LLP (transactional/corporate tax) (tax litigation)

Next generation lawyers

Nicolas de Boynes - Sullivan & Cromwell LLP (corporate tax)

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France: Capital markets

Equity
Capital markets: Equity - ranked: tier 2

Sullivan & Cromwell LLP

Sullivan & Cromwell LLP specialises in complex transactions, often involving a cross-border element, though it also handles a significant number of domestic instructions. The team has been kept busy handling rights offerings, and in one example advised the underwriters on EDF’s €4bn capital increase. Other work included assisting Elis with its €325m capital increase with preferential subscription rights, undertaken through a public offering in France and a private placement to qualified foreign investors, and handling the sale of 15 million Moncler shares by Eurazeo subsidiary Ecip M by way of an accelerated bookbuilding. Olivier de Vilmorin heads the team.

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Further information on Sullivan & Cromwell LLP

Please choose from this list to view details of what we say about Sullivan & Cromwell LLP in other jurisdictions.

Australia

Offices in Melbourne and Sydney

China

Offices in Beijing

Germany

Offices in Frankfurt

France

Offices in Paris

Hong Kong

Offices in Hong Kong

Latin America: International firms

Japan

Offices in Tokyo

London

Offices in London

Philippines

United States

Offices in Washington DC, New York, Los Angeles, and Palo Alto

Legal Developments in France

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • The new French regulation applying to national insurance contributions for managers and shareholders

    French insurance contributions on executive and shareholder remuneration (pay + dividends) have been substantially increased by the National Insurance Funding for 2013 Act, No. 2012-1404, of 17th December 2012. Until 31st December 2012, all dividends were subject to national insurance contributions on unearned income but henceforth, under Article L136-3 of the National Insurance Code, amended by Act No. 2012-1404, certain dividends   are considered as pay received by executives and shareholders and are therefore subject to the national insurance contributions on pay. The Act also abolished the ceiling on health insurance contributions payable by the self-employed and all this means that businesses must rethink the way that they have been structured until now.
  • CHINA - PERSONAL TAXATION AND SOCIAL SECURITY : CHINESE AND FOREIGN NATIONALS ON AN EQUAL FOOTING

    The People's Republic of China has initiated an overhaul of its social security system, reformed the personal taxation regime and has extended the scope of these laws to foreigners residing in China.
  • MOROCCO TO BECOME THE LEADING FINANCIAL PLACE IN AFRICA

    The Kingdom of Morocco is supporting the ambition of becoming the leading financial place for Africa. In this context, a wave of draft laws is to be passed and implemented within the following months, amongst which, the Law No. 53.08, setting up a new financial authority, and the Law No. 54.08, reforming public offering rules, are of paramount importance to Moroccan and foreign issuers, and financial institutions.
  • ACQUISITIONS IN CHINA : ASSET OR SHARE DEAL?

    The opportunities offered to foreign investors by the Chinese mergers and acquisitions market are increasing every year: in 2010, transactions involving foreign companies came to 60.1 billion euros, an increase of 21.2% compared with 2009. Seen from the West, where markets are declining, all sectors of the Chinese economy seem to be undergoing promising development and the statistics indicate that the Middle Empire will be a lasting springboard for growth.
  • Prime de Partage des Profits

    Le dispositif L’article 1er de la loi de financement rectificative de la Sécurité sociale pour 2011 oblige les sociétés commerciales de 50 salariés et plus, dont les dividendes par part sociale ou par action sont en augmentation par rapport à la moyenne des deux années précédentes, à verser une prime à l’ensemble de leurs salariés
  • BULGARIA MARKET OVERVIEW

    Types of investors The private equity (PE) funds that are active in Bulgaria are not raised or registered in the country. Some Bulgarian PE funds were raised recently, but there are no statistics as to the sources of their funding, their number, the funds that were accumulated, etc.
  • RECENT DEVELOPMENTS REGARDING COMMITMENTS

    THE PROCEDURE IS CLARIFIED, BUT MAY COMMITMENTS APPLY WITHOUT LIMIT?
  • Landmark decision by French Competition Authority in conditioned LPG case

    cartel case closed after discovery that leniency application was largely based on forgeries and rejection of collective dominant position objection.
  • 2012 supplementary budget

    The second supplementary budget published in the Official Gazette September 19, 2011 provides for two key measures that affect the deferral of tax losses and taxation of capital gains realized on the sale of equity securities .
  • Actualité législative fiscale

    Au delà des mesures applicables à l’ensemble des contribuables (telles que la limitation du report des déficits ou la réforme du mode de calcul des plus values sur cessions de participations),le plan de réduction des déficits annoncé le 24 août dernier par le gouvernement comprend des mesures qui intéressent spécifiquement les acteurs du secteur financier.