UGGC & Associés counsels to CARI for its LBO

The 15 top executives of the French subsidiary of English group Carillion Plc have carried out an LMBO on the company they were managing. Executives of this French subsidiary took over control of the company, which becomes CARI. For this take-over, they were assisted by CICLAD, an investment fund operating in the building and public works sector. This acquisition was financed in part by a banking pool with Société Générale bank as arranger, also including CIC Lyonnaise de Banque, Le Crédit Lyonnais and Crédit Agricole Mutuel Provence-Côte d’Azur. With a staff of over 1,300 people and an estimated turnover of EUR 274 million in 2004, CARI is of significant size to join the party of big operators of this sector in France. CARI and CICLAD executives were advised by UGGC & Associés (Michel Turon, Charles-Emmanuel Prieur, Anne Ducros & Anne Lafont on tax law and corporate law issues; Michel Ponsard on competition law issues and Sophie Uettwiller on labour law issues). At CARI’s, Denys du Crest and Marjorie Mencio were in charge of the file. Counsels to Carillion Plc group were Lovells law firm (Alexis Terray, Avril Lee & Stéphane Martin for corporate law issues; Philippe Thomas for labour law issues). Counsels to the banking pool ware De Pardieu Brocas Maffei law firm (Olivier Hubert, Corentin Coatalem, Christophe Gaillard & Claire Sauty de Chalon).