PRESS RELEASE – DELSOL Avocats assists Caisse des Dépôts et Consignations with the acquisition of an equity stake in Hôtel du Palais in Biarritz
DELSOL Avocats assisted Caisse des Dépôts et Consignations (CDC) with its acquisition, through Banque des Territoires, of a minority stake in the semi-public company (SOCOMIX) operating the Hôtel du Palais in Biarritz.
CDC is acquiring part of the shares held by Biarritz City Council and JC Decaux Holding for a total of €1.23 million, following the exit of Compagnie Financière du Louvre at the end of 2019. This acquisition will include current account contributions by CDC and existing shareholders to finance a new phase of renovation work initiated in 2018.
The Hôtel du Palais is a luxury hotel in Biarritz, run by the Hyatt group. It was particularly the venue for the G7 summit in 2019.
DELSOL Avocats assisted Caisse des Dépôts et des Consignations with a team including
- partner Philippe MALIKIAN and associate Alexia DEMONCHY on the corpotrate aspects ;
- partner Julien MONSENGO and associate Clément GUITET on the tax aspects.