Latham & Watkins > Paris, France > Firm Profile

Latham & Watkins > The Legal 500 Rankings

France > Banking and finance: transactional work Tier 1

Latham & Watkins has an outstanding track record in acquisition and leveraged finance transactions. It is typically sought out by major banks, private equity and debt funds on large-cap LBO transactions. As part of its offering, the team is also very active in all forms of senior and subordinated loans, bonds and hybrid capital structures. In addition, working with the firm’s restructuring and special situation team, the practice handles complex restructuring finance transactions. Michel Houdayer, who focuses on acquisition finance and private equity, leads the department. Xavier Farde is ‘deal oriented and has in-depth product knowledge’. Lionel Dechmann typically advises lenders, sponsors and corporates on LBO financing.

France > Derivatives and structured finance Tier 1

Latham & Watkins‘s structured finance and derivatives practice offers French, English and US law expertise from the Paris office, making the firm a popular choice for multijurisdictional matters. The caseload includes a high number of very high-value transactions across a broad product range, with structured securities, equity derivatives, structured token offerings, hedging transactions, and bank capital relief transactions among recent matters. The practice is also frequently involved in disputes involving financial products and assists with regulatory matters. Practice head Thomas Vogel and Suzana Sava-Montanari, who made partner in March 2021, are the key contacts.  

France > EU, competition and distribution Tier 1

The antitrust and competition law group at Latham & Watkins enjoys an excellent reputation, advising major multinationals involved in state aid investigations, multi-jurisdictional merger control and appearances before the EU Commission, or the competition authority. The team of competition litigation authority Jacques-Philippe Gunther includes Adrien Giraud  and newly promoted partner and cartel and abuse of a dominant position specialist Mathilde Saltiel (March 2021). The group represents clients across the entertainment, biotech, retail, telecoms and tech sectors.

France > Insolvency Tier 1

Latham & Watkins is entrusted to manage highly complex and sophisticated cases. The practice is particularly active for hedge funds and leading international investment funds, but also acts for debtors and lately some banks. It has recently handled a high number of Covid-19-related cases, for example assisting investors with the selling of assets in the hospitably sector. Other recent work included large debt restructuring and refinancing matters, notably in the retail, hospitality, car rental and tourism sectors, including managing several high-end cases involving prominent companies. The firm also acts on smaller cases, for example involving key suppliers, and demonstrated its skill in several atypical and challenging cases in the football and maritime transport sectors. Practice head Alexandra Bigot; Hervé Diogo Amengual and counsel Thomas Doyen are the key contacts.

France > Private equity: LBO Tier 1

Latham & Watkins has a stand-out reputation for advising leading private equity houses on high-profile large-cap LBOs. The practice benefits from the firm’s international network, as well as its ability to leverage expertise in ancillary areas, such as corporate finance, M&A, leveraged finance and debt capital markets. The department is jointly led by Alexander Benedetti, Denis Criton, Alexander Crosthwaite, Thomas Forschbach, Gaëtan Gianasso, Charles-Antoine Guelluy and Olivier du Mottay.

France > Capital markets: debt capital markets Tier 2

Latham & Watkins is particularly well-known for its high-yield bond practice, but is also active in investment grade bonds, exchangeable and convertible bonds. Able to assist with UK, US and French law, the practice has built a reputation for its work on complex cross-border matters, including green and sustainability-linked bond issuances. Dual-listed companies with listings in France and England or the US frequently instruct the firm for their debt capital market matters. The firm's French and international M&A, tax, financing and restructuring offering complements the capital market practice well. Thomas Margenet-Baudry is the head of the practice. Roberto Reyes Gaskin   joined the partnership in January 2021.

France > Capital markets: equity capital markets Tier 2

Latham & Watkins is particularly well-known for its initial public offering experience, but the team of practice head Thomas Margenet-Baudry also advises on block trades, convertible and exchangeable bonds as well as on rights issues. Sustainability-linked financings are a growing line of work. Margenet-Baudry’s own New York law expertise and the firm’s offices in New York and London make the practice a very good choice for dual-listed companies with listings in France, the UK or the US. In January 2021 Roberto Reyes Gaskin, dual-qualified in France and New York and with a geographical focus on France, Italy and Spain,  joined the partnership.

France > Compliance Tier 2

Latham & Watkins has recognised expertise in the field of anti-corruption and sanctions, spanning French law as well as US FCPA and the UK bribery act. The team assists clients with the setting up of compliance programmes and during AFA compliance audits. The conduct of audits during M&A transactions led by the firm and assisting clients with sensitive internal investigations are other areas of strength. In addition, the firm offers complementary compliance expertise in other areas, such as ethics, governance, data privacy and healthcare. Fabrice Fages  is in charge.

France > Data privacy and data protection Tier 2

Latham & Watkins has profound expertise in data-centric technologies, which allows it to assist clients in navigating the increasingly complex commercial, technological and regulatory challenges. Myria Saarinen is a key figure in the firm’s data privacy global team and a well recognised litigator, leading the Paris commercial litigation practice, which encompasses IT litigation and data protection matters. Her team is known for being ‘dynamic‘ and ‘pragmatic‘ as well as for being ‘experts in the field of personal data protection’.

France > Industry focus: IT and internet  Tier 2

Latham & Watkins assists with transactional, regulatory, and litigation matters for tech companies and is especially active in the negotiation of complex telecommunications networks and infrastructure agreements, acting in particular for French groups operating globally. The firm advised unicorn investor Dragoneer on the $355m fundraising of France’s largest independent e-commerce site ManoMano. Jean-Luc Juhan is the head of the IT, telecoms and internet practice.

France > Mergers and acquisitions Tier 2

US firm Latham & Watkins is a go-to for international transactions and has recently been involved in several of the market’s headline mergers of equals and spin-off deals. Practice head Pierre-Louis Cléro  thrives on the full spectrum of transactions, from public and private M&A through to joint ventures, disposals, restructurings and relevant disputes. Cléro is supported by Olivier du Mottay who likewise supports bidders, targeted companies and managers in all deal types, as well as by Alexander Crosthwaite who supplements his M&A proficiency with expertise in private equity and securities law.

France > Tax Tier 2

Latham & Watkins' tax team excels in the field of private equity, in line with the firm’s thriving corporate practice in that area. The tax team frequently works with the corporate practice to advise the largest French and international private equity house on their most high-profile LBO transactions. The tax team is one of Ardian’s preferred advisers and recently assisted the client with its first transaction in the US. The tax team also regularly works for private equity funds’ portfolio companies, notably on major financing, debt restructuring and capital markets transactions. Its body of work also includes prominent mandates from banks and corporations. The tax team was recently involved in the very complex carve-out of a leading French company. The excellent duo Xavier Renard and Olivia Rauch-Ravisé direct the team.

France > Dispute resolution: Commercial litigation Tier 3

Latham & Watkins  is active in good amount of commercial litigation, notably relating to the IT and healthcare sectors. The practice also regularly manages corporate and M&A disputes, recently representing an investment fund in a complex matter concerning some aspects of one of France’s recent landmark M&A dispute. As part of the practice’s insolvency litigation caseload, the team assists audit firms facing disciplinary proceedings. Lately, the team has acted for clients facing difficulties in the supply of electronics components, notably in the automobile sector, advising on strategic pre-litigation issues. Private enforcement litigation, antitrust condemnation damage proceedings, and mediation proceedings are growing practice areas. Fabrice Fages and Myria Saarinen are in charge. Elise Auvray made counsel in 2021.

France > Dispute resolution: International arbitration Tier 3

Headed by the highly regarded Fernando Mantilla-Serran, Latham & Watkins’ practice handles commercial and investment arbitration. The Paris practice demonstrates great strength in disputes in connection with South America which account for the bulk of the caseload. The team acts for state entities and private companies in a wide range of disputes, including post-M&A, construction and energy matters, frequently substantial in size. The practice is a regular counsel to the Republic of Colombia for whom it acts in high-stakes matters pertaining to the mining industry and the country’s environmental policies. The work for an energy consortium in relation to issues concerning a major hydropower plant in Brazil is also noteworthy.

France > Employment Tier 3

Latham & Watkins' Matthias Rubner leads a strong practice which assists many leading French and international companies, notably in the healthcare, media and financial sectors. Compact and high-level, the team is entrusted to work on complex matters such as restructuring projects and strategic governance issues. It also deals with complex individual files and provides strong assistance to the corporate practice, regularly advising on large private equity transactions and global M&A deals. The team has also assisted several leading international banks with the setting up or relocation of their business in Paris as a consequence of the Brexit.

France > Industry focus: Healthcare and life sciences Tier 3

Leading the life sciences practice at Latham & Watkins, Eveline Van Keymeulen advises the European Pharmaceutical Industry Association (EFPIA) on a range of strategic and cutting-edge regulatory topics impacting the entire European pharmaceutical industry. The team also advises clients operating in the life sciences sector on a broad variety of business-critical regulatory and compliance issues. At the forefront of innovation, the firm counts leading genomics and cannabidiol companies to its client list.

Latin America: International firms > International arbitration Tier 2

Led by the ‘stellar’ Fernando Mantilla-Serrano  from Paris, Latham & Watkins‘ Latin America international arbitration team covers international commercial arbitration, investment treaty arbitration, multi-jurisdictional disputes and international public law matters. The practice has developed a healthily-diverse client base that includes private companies, investors, state-owned enterprises and sovereign states; and is known for its broad industry experience, with the oil-and-gas, infrastructure, construction, financial services, mining, pharmaceuticals and technology sectors among its most active areas. Mantilla-Serrano is supported by group of talented associates who display ‘deep knowledge’ of business culture and law in the region. Dual-qualified (Colombia/New York) counsel, Santiago Bejarano, who joined the New York office from WilmerHale in early 2021 and represents domestic and multinational corporations in their high stakes international disputes. Impressive associates Esperanza Barrón-Baratech and Diego Romero (in Paris), and London-based Samuel Pape, all have considerable experience advising corporates, sovereign states and state-owned entities in Latin American matters.