Gide scoops second IPO for French government

Gide Loyrette Nouel had a bumper October after landing its second IPO for the French government this year in the form of the long-awaited partial privatisation of Electricité de France (EdF). Partners Antoine Bonnasse, Arnaud Duhamel and Jean-Emmanuel Skovron are acting for the state on the IPO, which was announced on 24 October by the French Finance Minister Thierry Breton. The privatisation will see the sale of a 15 per cent stake in EdF, raising between €6bn (£4.06bn) and €8bn (£5.41bn). For Gide, the work comes just months after Skovron and fellow partner Jean-Marc Desaché acted for the government on Gaz de France’s June IPO. Shearman & Sterling Paris M&A partner Hervé Letréguilly is acting for EdF. Sullivan & Cromwell’s Nikolaos Andronikos and Richard Vilanova are representing the banks.