act legal France advised the Comité des Constructeurs Français d’Automobiles (CCFA) in relation to the transaction contemplated under a share purchase agreement entered into between UTAC Uds (a subsidiary of CCFA) and the Fonds de Consolidation et de Développement des Entreprises (FCDE), a French investment fund). Such transaction provided for (i) the prior reorganization of the UTAC group under a newly created company, UTAC Holding, and (ii) the transfer of the control (approx. 70% of the issued share capital and voting rights) of UTAC Holding (as new parent company of the UTAC Group) to FCDE.
Completion of said transaction marked the independence of the UTAC group (which is in charge of the vehicles’ type-approval in France) from the French vehicles manufacturers (grouped within the CCFA). It will also bring to the UTAC Group the financial and human resources needed to adapt its business and activities to an automotive industry undergoing profound changes.
The transaction team of Vivien & Associés consisted of Emmanuel Chauvet (Partner), Lisa Becker and Alexandra Arnould (Associates) in respect of Corporate/M&A matters, Jérôme Chapus (Partner) and Nicolas Pozniak (Associate) in respect of tax matters and Joëlle Hannelais (Partner) and Sarah Machrhoul Lhotellier (Associate) in respect of employment matters.