Paul Hastings Advises Coop Alsace on Sale of its 28 Hypermarkets and Supermarkets to giant retailer E. Leclerc
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
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