Bird & Bird, Eversheds and Baker & McKenzie on the sale of SOFIAP to La Banque Postale as part of a partnership with SNCF

10 June 2014

La Banque Postale has acquired a shareholding of 66% in SOFIAP from Crédit Immobilier de France (which sold its 51% majority shareholding) and SNCF (which sold 15%). It therefore succeeds Crédit Immobilier de France as partner to the SNCF (which retains a 34% shareholding) in SOFIAP.

SOFIAP is a well-known specialist in the production of mortgages for railway employees, having a strong reputation amongst SNCF staff, thanks to the SOCRIF trademark it operates. Well-developed also on other segments such as statutory customers (public servants and equivalents) and investors, SOFIAP manages an  outstanding total of loans of over 1.6 billion euros and has successfully diversified  in the distribution of consumer loans amongst railway employees.

Crédit Immobilier de France was advised by Bird & Bird with Gildas Louvel (partner), Elisabeth Sandret-Renard (associate) on Corporate matters, Driss Bererhi (partner) et Sophie Nicolas (counsel) on Financing aspects, Julie Catala-Marty (partner) on Competition, Benjamine Fiedler (partner) on Labour law Laurence Clot (partner) with regard to Tax. 

La SNCF was assisted by Baker & McKenzie with David Haccoun (local partner), Savéria Laforce (associate) and Marc Viltart (associate) on Corporate matters, Thomas Oster (counsel) and Thomas Guerin (associate) on Competition, Cyril Tour (local partner) on Financing aspects, and Christine Artus-Jegou (local partner) on Labour law aspects.

La Banque Postale was assisted by Eversheds with Antoine Martin and Mathieu Taupin assisted by Camille Pedrini on Corporate matters, Dan Roskis and Charlotte-Mai Doremus on Competition Law, and Sophie Perus and Marie-Paule Noël on Financing aspects.