Herbert Smith advises the FSI on a €70 million investment

The FSI (Fonds Stratégique d’Investissement), the French strategic investment fund, UNIGRAINS (Union Financière pour le développement de l’économie céréalière), an agrifood investment fund, and NECAP (Nord Est Champagne Agro Partenaires), an investment fund set up to support agriculture and wine production by the Crédit Agricole du Nord Est bank, entered into an investment agreement governing their investment in Siclaé on 21 December 2010. The investment was completed on 22 December 2010 by way of a reserved share capital increase pursuant to which the FSI invested €50 million and UNIGRAINS and NECAP €10 million respectively in Siclaé.

Siclaé was established in 2005 by the merger of five agricultural cooperatives in north-eastern France (Champagne Céréales, Nouricia, EMC2, Champagne Coligny and Coopérative Agricole Sézanne) into a single structure focused on crop processing.

The FSI team members were Bertrand Finet, Sébastien Moynot, Pierre Bachelier-Iltis and Sophie Paquin. The FSI was advised on legal matters by Herbert Smith LLP: Hubert Segain (partner) with Christopher Theris, I-Tcheng South, Paul Delpech and Sophie de Labrouhe (associates). Advolis, represented by Olivier Salustro and Patrick Iweins, assisted the FSI with the financial aspects of the transaction.

Gide Loyrette Nouel, represented by Hugues Mathez (partner) and Sophie Andribet (associate), acted as legal counsel to Siclaé. Natixis advised the group on financial matters with a team led by Pascal Bridier, assisted by Arnold Girard and Marie-Noelle Ziegels.

UNIGRAINS (Florence Alin, Bruno Julla, Marion Dietz, Virgine Colombo) and NECAP/Crédit Agricole du Nord Est (Cécile Bonnefoy) was advised by Proskauer: Guillaume Kellner (partner) and Mounir Ait Belkacem (associate).