Allen & Overy advises on the launch of Bernstein

Allen & Overy, together with Shearman & Sterling, have advised Societe Generale on the official launch of Bernstein, a joint venture with AllianceBernstein that creates a new world leader in equity research and cash.

The creation of Bernstein marks a historic milestone for both organizations, following the initial announcement of the joint venture project in November 2022. With over 750 employees serving clients globally, the joint venture is organised under two separate legal vehicles with a Head Office in New York covering North America and a Head Office in London covering Europe and Asia, complemented by major hubs in Paris and Hong Kong, and multiple regional offices.

The closing of the transaction has been approved by the relevant regulatory and antitrust authorities. The launch of Bernstein is fully in line with Societe Generale’s strategic priorities, which aims to promote high-performing and sustainable activities with the ambition to generate regular, commission-based results. The impact on the Group’s CET1 capital ratio is below 10 basis points.

Guillaume Isautier (corporate/M&A Partner, Allen & Overy, Paris) led the matter. Allen & Overy Madrid team, Bosco De Checa (partner), Casilda de las Cuevas (associate) and Alejandra Puig (associate) on corporate/M&A and Juan Jose Sanchez (senior associate) on tax aspects.

The Allen & Overy and Shearman & Sterling teams were made up of:

On the Allen & Overy side, in Paris Martin Chassany (counsel), Gaspard Bastien-Thiry (senior associate), Astrid Achard-Hoffman (associate), Gaëtan Le Bris (associate), Florian Imbert (associate) and Yahn Van Kalck (associate) on corporate/M&A; Laurie Anne Ancenys (counsel), Carla Hemery (associate) and Chama Laraki (associate) on IT and personal data aspects; Florence Ninane (partner) on antitrust aspects and Olivier Picquerey (partner) on employment law aspects. Antonio Ferri (counsel), Giovanna Sottoriva (associate) and Riccardo Di Laura (associate) on corporate/M&A; in London, Hugh Robinson (partner), Stephen Mathews (partner), Preethi Correa (senior associate) and Paul McKay (associate) on corporate/M&A, Emma Willoughby (partner) on real estate, Vicky Wickremeratne (partner) and David Merlin-Jones (senior associate) on employment law aspects; in the Netherlands Joyce Leemrijse (partner), Ishara Gamage (associate), Kaoutar Laachir (associate) on corporate/M&A, Rens Bondrager (partner) and Joy Kloosterman (associate) on tax aspects; in Munich Astrid Krueger (partner), Tiago Rittner (associate) and Antonia Waltz (associate) on corporate/M&A; in Frankfurt, Sebastian Schulz (counsel) and Lisa Wantzen (senior associate) on employment law aspects, Florian Lechner (partner) and Soeren Rathjens (associate) on tax aspects; in Poland Jaroslaw Iwanicki (partner), Maciej Szykut (senior associate), Brunon Surma (associate) and Pawel Grzesik (associate) on corporate/M&A; in Tokyo, Tokutaka Ito (partner) and Shiori Nishizawa (associate) on corporate/M&A; in Belgium, Peter Van Dyck (partner), Eline D’Joos (associate) on IT/IP and data protection; and in New York, Keren Livneh (partner), Natalie Montano Young (senior counsel) and Kyle Coogan (employee) on IT and data protection aspects.

On the Shearman & Sterling side, the teams were made up of Anne Sophie Maes (Counsel) in Paris on  the tax aspects, in London Thomas Donegan (partner), Olivia Merret (associate), Kristina Killick (associate) and Nicholas Ormondroyd (associate) on the regulatory aspects, Matthew Readings (partner) and Mark Steenson (associate) on antitrust and Simon Letherman (partner) on tax aspects, in New York Jennifer Morton (partner), Mark Chorazak (partner) and Taylor Pugliese (associate) on regulatory aspects, Derrick Lott (partner) and Drew Elphick (associate) on corporate/M&A aspects and Larry Crouch (partner) and Matthew Brown (associate) on the tax aspects, JB Betker (partner) and Austin Grossfeld (associate) on the IT/IP and data protection aspects and Melisa Brower (associate) on the employment law/employee benefits aspects.

Julia Gil

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