Orrick Advises VINCI Concessions on the Increase of Its Stake in LISEA, Concessionaire for the South Europe Atlantic High-Speed Train Line

Orrick has advised VINCI Concessions in the increase of its stake in LISEA, the concessionaire for the South Europe Atlantic High Speed Line (LGV SEA) between Tours and Bordeaux.

In spring 2024, LISEA shareholders Ardian and Caisse des dépôts et consignations announced their intention to jointly sell 26.24% of the company's capital. VINCI Concessions and Meridiam, already shareholders in LISEA, have decided to increase their respective stakes.

The transaction was signed on October 9, 2024. Following completion, VINCI Concessions will hold 42,045% of the shares in LISEA (up from 33,4% previously) and Meridiam 41.945%.

VINCI Concessions' decision to increase its stake reflects its confidence in LISEA's operational, financial and business development prospects within the context of the opening up of the high-speed rail market in France.

The Orrick team advising VINCI Concessions consisted of:

• Patrick Tardivy (Partner) on corporate law aspects;
• Patrick Hubert (Partner) on antitrust & competition law aspects; and
• Paul Loisel (Partner) on financing aspects.