Armand Grumberg Avocat à la Cour, Skadden, Arps, Slate, Meagher & Flom LLP
Armand W. Grumberg is the head of Skadden’s European Mergers and Acquisitions Practice and the leader of the firm’s Paris office. He has extensive experience in strategic and complex cross-border transactions, including public and private acquisitions, contested and hostile bids, joint ventures, corporate reorganizations and capital markets transactions. Prior to joining Skadden, Mr. Grumberg practiced law in the New York, London and Paris offices of another leading international law firm.
Transactions in which he has acted include:
- SCOR in numerous transactions including its 2014 acquisition of a controlling interest in Presses Universitaires de France, ; its 2013 $750 million acquisition of Generali U.S. and its acquisition of a controlling stake in MRM; its 2012 CHF315 million perpetual subordinated notes and its cornerstone investment in the IPO of PICC Group; its 2011 $912.5 million acquisition of Transamerica Re’s mortality business from Aegon and its CHF625 million perpetual fixed-to-floating rate step-up notes; its 2010 €150 million contingent capital equity line; its 2009 sale of its stake in Gecimed; its 2007 CHF3.3 billion acquisition of Converium Holding AG (the first unsolicited takeover bid ever in the reinsurance industry) and the creation of three Societas Europaea (including the first publicly listed SE in France); its 2006 €605 million acquisition of Revios, its €377 million rights offering, its €350 million deeply subordinated notes offering and the spin-off of its non-life reinsurance activities to SCOR GLOBAL P&C; and its 2005 €232 million rights offering and its acquisition of a 46.65 percent stake in IRP Holdings Limited from Highfields Capital for €183.1 million; in its 2004 €200 convertible-exchangeable bond (OCEANEs) offering; in its 2003 group reorganization, including its €751 million rights offering and the spin-off of its life reinsurance activities to SCOR VIE;
- Capgemini in numerous transactions including its 2014 acquisition of Euriware from Areva; the 2012 BRL321 million sale of a 22 percent stake of its Brazilian subsidiary CPM Braxis to Caixa Econômica Federal; its 2010 €233 million acquisition of a 55 percent stake in Brazilian IT services company CPM Braxis; its 2008 acquisition of the Latin American financial shared services operations of the Unilever Group; its 2006 €507.2 million capital increase, its $1.25 billion acquisition of Kanbay and its acquisition of a 51 percent interest in Indigo from the Unilever Group; and its 2000 $12.1 billion acquisition of the consulting business of Ernst & Young;
- Austrian insurer UNIQA in its sale of a portfolio of 54 U.S. and European private equity fund interests to a number of secondary and institutional international buyers;
- Austrian investor Torger Christian Wolff in several transactions including its 2013 acquisition of a significant minority stake Mercedes-Benz Grand Prix Ltd., the company operating the Mercedes F1 team; Williams Invest Holdings (an investment vehicle owned by Mr. Wolff) in connection with the 2011 IPO of Williams Grand Prix Holdings; and Williams Invest Holdings in its 2009 acquisition of a minority stake in Williams F1;
- Yves Rocher Group in the acquisition of a 19.3 percent stake in Yves Rocher SA from Sanofi;
- Kering (ex-PPR) in its €1.2 billion sale of Conforama to Steinhoff, and in Gucci Group’s acquisition of a stake in Alexander McQueen;
- Renault in its $1.3 billion strategic acquisition of a 25 percent stake in AvtoVAZ and Renault V.I. in the combination of its bus business with Iveco;
- Matmut Group in its strategic partnership with La Banque Postale relating to credit offers and lenders’ insurance;
- Arcelor in its defense against a hostile takeover bid from, and its subsequent acquisition by, Mittal Steel for €27 billion;
- Fournier Pharma and its shareholders in Fournier Pharma’s €1.2 billion acquisition by Solvay;
- Quiksilver in its €240 million acquisition of Skis Rossignol;
- Goldman Sachs, Morgan Stanley and Rothschild, financial advisors to Aventis, in Aventis’ defense against a hostile takeover bid from, and its subsequent acquisition by, Sanofi-Synthélabo for €59 billion;
- the French Republic and its financial advisor Société Générale in France Télécom’s tender offer for Wanadoo for €3.9 billion;
- Royal Philips Electronics in its sale of its consumer manufacturing services division to Jabil Circuit, Inc. and its sale of its fax business to Sagem;
- Société Générale in its proposed merger with Paribas S.A. and its defense against a hostile takeover bid from BNP;
- Adidas in its acquisition of Salomon;
- SITA in its acquisition of the non-U.S. assets of Browning-Ferris Industries (BFI);
- Swisscom in its privatization;
- The Puig Group (Paco Rabanne) in its acquisition of Nina Ricci; and
- Swiss Re in its acquisition of SAFR from AGF and its subsequent sale to PartnerRe.
In addition, Mr. Grumberg is frequently involved in advising clients with respect to strategic cross-border litigation matters. In particular, he has advised SCOR and other clients in connection with several securities laws related proceedings across Europe and class actions in the United States.
Mr. Grumberg has been selected for inclusion in Who’s Who Legal for M&A and repeatedly recognized in Chambers Global and Chambers Europe as a leading individual in Corporate/M&A in France.
Mr. Grumberg lectures on topics related to his practice and is the author of various legal publications.
The newfound attractiveness of European M&A, Insights (2015)
Activist Investing in Europe: a special report, Activist Insight (2014)
Co-Author, French Chapter on Public Takeovers, PLC’s Mergers and Acquisitions Handbook (2003 to 2014 editions).
Co-Author, « La France, un terreau fertile pour l’activisme actionnarial« . Supp. Option Finance, n°1288, October 13, 2014 – Supp. Option Droit et Affaires, n°232, October 8, 2014, p.24
Co-Author, « Societas europaea : ombres et lumières » published in the Revue de Droit des Affaires Internationales (2006).
Co-Author, « SCOR, la première société cotée française à adopter le statut de sociétété européenne : principaux avantages de la Societas Europaea » published in Option Finance (2006).
Co-Author, « Pan-European Takeover Regulation » published by Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates in association with Practical Law Company (2005).
Co-Author, « Défenses anti-OPA : Adoption de la directive européenne sur les OPA et enjeux pour les entreprises françaises » published in the Semaine juridique entreprise et affaires (2004).
Co-Author, « Scor inaugure avec succès les émissions d’Océanes en 2004 » published in Option Finance » (2004).
L'actualité de Armand Grumberg
19 octobre 2015
L’activisme actionnarial s’est fortement développé ces dernières années des deux côtés de l’Atlantique, devenant même le « new normal » aux Etats Unis. Il touche désormais tous types d’entreprises cotées, peu importe leur taille, activité ou structure capitalistique. De manière neutre, il peut être défini comme l’influence de minoritaires sur la gouvernance, la stratégie, la politique financière ou la gestion d’une société. Il s’agit souvent, mais pas toujours, d’actions menées par des fonds, parfois des fonds vautour, avec pour objectif de faire…