Paris, France - Paul Hastings LLP, a leading global firm, announced today that it advised the Union des Coopérateurs d’Alsace supermarket network (“Coop Alsace”) in connection with the sale, on 30 August 2013, of its 28 hypermarkets and supermarkets to Val Expansion, a development entity within the E. Leclerc group, one of the French leading retailers with sales of €43 billion in 2012. The stores sold had in total approximately €500 million in sales and 1,800 employees.
In 2012, Val Expansion became a minority shareholder of the operating company of the Coop Alsace stores involved in this transaction. This initial transaction made it possible to reduce Coop Alsace’s 2012 debt by approximately €100 million, in connection with a vast reorganization plan undertaken by Coop Alsace. Paul Hastings’s Paris team had already advised Coop Alsace in connection with the restructuring of the debt.
The Paul Hastings team was led by partner Guillaume Kellner, assisted by partner Etienne Mathey and associates Mounir Ait Belkacem and Charlotte Pennec for corporate matters, partner Allard de Waal and associate Laurent Ragot for tax issues, partner Pierre Kirch and associate Jocelyn Lucas for competition law issues, partners Deborah Sankowicz and Stéphane Henry for employment law issues, and partner Mounir Letayf on financing matters.
Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.