Batipart and Covea’s €500 Million Lease-Back of Paneuropean Estate Building

Chiomenti, Legance, Gide, LED Taxand, Garrigues and Cuatrecasas advised Adeo in the transaction. De Pardieu Brocas Maffei Elvinger Hoss Prussen, Pérez-Llorca, Morais Leitão, Galvão Teles, Soares da Silva & Associados, Legance, Gianni, Origoni, Grippo & Partners advised Batipart and Covéa. Dechert advised Natixis, Crédit Lyonnais and La Banque Postale

Adeo executed a sale and lease-back operation to Batipart and Covea of a pan-European portfolio of real estate assets, worth over EUR 500 million. The portfolio comprises 42 assets in four countries (France, Spain, Italy and Portugal), fully leased to brands Leroy Merlin, Bricoman and Bricomart. Together, the assets cover a total of over 400,000 sq.m., secured by long-term leases.

Adeo, a leading international player in the home improvement market, retains 20% of the newly created structure for the acquisition of the portfolio.

Cuatrecasas advised Adeo on aspects of Spanish and Portuguese law. For Spain, the team was made up of counsels Silvia Alcoverro and Hélène Baus, partner Julio Brasa, and associate Ana Serrano. For Portugal, the team comprised partner Sara Quaresma and associate Margarida Sapateiro.

Arsene advised Adeo with François Lugand (associé), Julie Usseglio-Viretta and Fabien Drouillard.

Garrigues advised Adeo with Francisco Lavandera, Antonio Nieves, Tiago Cassiano Neves and José Diogo Megre Pires

LED Taxand advised Adeo with Francesco Cardone et Erminia Procopio.

Gide advised Adeo on this transaction, with a team headed by partners Frédéric Nouel and Christophe Eck, working with counsels Cléopha Thomann and Pierre-Adrien Vibert, and associates Ghizlen Sari Ali and Capucine Pelissie.

Chiomenti, partner firm of Gide and Cuatrecasas, advised Adeo on aspects of Italian law with partner Luca Liistro (Picture), and associates Alessandro Buscemi and Simona Granieri.

Legance assisted Batipart with a team including Filippo Troisi, Gabriele Capecchi, Andrea Tortora della Corte, Alice Galizia, Alessandra Palatini, Sabrina Maltoni, Maria Cristina Breida, Alice Villari, Claudia Gregori and Nicola Napoli.

De Pardieu Brocas Maffei  advised Batipart and Covéa with Nicolas Favre, Vincent Langenbach, Pierre-Alexandre Schnyder, Rémi Avon (M&A), Paul Talbourdet, Nicolas Bricaire, Benjamin Garret (Real Estate), Alexandre Blestel,  Benoît Menez, Emilien Vivier (Tax), Corentin Coatalem, Diane Le Chevallier, Eloïse Koudou (Finance), Philippe Guibert and  Alexandre Eberhardt (Antitrust).

Involved fees earner: Caroline Halembert – Arendt & Medernach; Laurent Schummer – Arendt & Medernach; Natalia Tsirmpa – Arendt & Medernach; Fabien Drouillard – Arsene Taxand; François Lugand – Arsene Taxand; Julie Usseglio-Viretta – Arsene Taxand; Alessandro Buscemi – Chiomenti; Simona Granieri – Chiomenti; Luca Liistro – Chiomenti; Silvia Alcoverro – Cuatrecasas; Hélène Baus – Cuatrecasas; Julio Brasa – Cuatrecasas; Sara Quaresma – Cuatrecasas; Margarida Sapateiro – Cuatrecasas; Rémi Avon – De Pardieu Brocas Maffei; Alexandre Blestel – De Pardieu Brocas Maffei; Nicolas Bricaire – De Pardieu Brocas Maffei; Corentin Coatalem – De Pardieu Brocas Maffei; Alexandre Eberhardt-Le Prévost – De Pardieu Brocas Maffei; Nicolas Favre – De Pardieu Brocas Maffei; Benjamin Garret – De Pardieu Brocas Maffei; Philippe Guibert – De Pardieu Brocas Maffei; Eloïse Koudou – De Pardieu Brocas Maffei; Vincent Langenbach – De Pardieu Brocas Maffei; Diane Le Chevallier – De Pardieu Brocas Maffei; Benoît Menez – De Pardieu Brocas Maffei; Pierre-Alexandre Schnyder – De Pardieu Brocas Maffei; Paul Talbourdet – De Pardieu Brocas Maffei; Emilien Vivier – De Pardieu Brocas Maffei; Tiago Cassiano Neves – Garrigues; Francisco Lavandera Noguera – Garrigues; José Diogo Megre Pires – Garrigues; Christophe Eck – Gide Loyrette Nouel; Frédéric Nouel – Gide Loyrette Nouel; Capucine Pelissie – Gide Loyrette Nouel; Ghizlen Sari-Ali – Gide Loyrette Nouel; Cléopha Thomann – Gide Loyrette Nouel; Pierre-Adrien Vibert – Gide Loyrette Nouel; Rossana Braz Duarte – Herbert Smith Freehills; Louis de Longeaux – Herbert Smith Freehills; Francesco Cardone – LED Taxand; Erminia Procopio – LED Taxand; Paolo Ruggiero – LED Taxand; Maria Cristina Breida – Legance; Gabriele Capecchi – Legance; Alice Galizia – Legance; Claudia Gregori – Legance; Sabrina Maltoni – Legance; Nicola Napoli – Legance; Alessandra Palatini – Legance; Andrea Tortora della Corte – Legance; Filippo Troisi – Legance; Alice Villari – Legance;

Law Firms: Arendt & Medernach; Arsene Taxand; Chiomenti; Cuatrecasas; De Pardieu Brocas Maffei; Garrigues; Gide Loyrette Nouel; Herbert Smith Freehills; LED Taxand; Legance;

Clients: Adeo SA; Batipart; Bricoman; Covéa; Leroy Merlin;