Clearwater International advises the shareholders of Sogaris on the sale of a minority stake

Clearwater rådgiver

Clearwater International has advised the shareholders of Sogaris on the sale of a minority stake to CDC.

Founded in 1960, SOGARIS is a Société Anonyme d’Economie Mixte specialized in investing in logistics platforms and in the design, the lay out, the marketing, the operating and the management of these platforms. SOGARIS has been working for over 50 years with logistics operators and local authorities on tailored real-estate solutions that blend in perfectly with their environment. Thereafter SOGARIS has become a major French player when it comes to urban logistics.

The group’s areas of business focuses on 2 primary activities:

Logistics integration : development of real estate projects and management of the group’s estate (warehouses, docks, offices, business and service premises)
Logistics services and maintenance work via SOGARIS Logistique.

The group generates c. € 45m of revenues and operates 9 first-class logistics sites, of which 8 are located in France (4 in Ile-de-France and 4 in other regions) and one in Luxembourg, totaling 57 buildings, over 560 000 sq. m including the strategic and historical site located in Rungis (220 000 sq. m).

Within the frame of the contribution of the Rungis land from the Syndicat Interdépartemental (SID) to SOGARIS (the operating concession of which runs out on 31/10/2020), Easton managed a competitive process to find the right investor at the end of which local communities sold an 11.1% stake to CDC (which was already a minority shareholder in SOGARIS).

The objective of this deal is twofold:

Ensure that authorities don’t own more than 85% of shares (maximum threshold set in the SAEM legal status);
Back the group’s development strategy in urban logistics, especially within the frame of the “Le Grand Paris” arrangement.

The Clearwater International team was led by Laurent Camilli.