Watson, Farley & Williams has advised Dalkia France, the French energy services specialist and subsidiary of Veolia Environnement and EDF, on the sale of its 24% stake in the Régaz-Bordeaux Group which operates the gas distribution network supplying 46 towns (“communes”) in the Greater Bordeaux area. 

Régaz-Bordeaux is the largest independent gas distributor in France with a network of 3,315 km and 210,000 delivery points.

Dalkia France sold its stake to InfraVia European Fund II, a capital venture fund run by OFI InfraVia, a management company specialising in infrastructure investment and subsidiary of the OFI Group which in turn is owned by French mutual insurers, Macif and Matmut.   Régaz-Bordeaux is now owned 51.2% by the city of Bordeaux, 24% by GDF Suez, 24% by OFI InfraVia and 0.8% by the local authorities.

WFW advised Dalkia France on all the legal aspects of the sale and the team was led by partner, Vincent Trevisani, supported by associates, Clémence Halpern (Senior) and Félicien Bardsley in respect of the corporate issues and by associates, Laurent Battoue (Senior), Julien Barba and Gaëlle Roger-Dalbert on the regulatory aspects.

Vincent Trevisani, Corporate partner and head of the Paris office Energy practice, said: “Being appointed by Dalkia France to assist them on this sale is proof of our team’s ability to advise major energy sector players in complex energy infrastructure deals”.