Freshfields Bruckhaus Deringer LLP ("Freshfields") is advising Getlink S.E. ("Getlink") on  the internal reorganisation of its corporate legal structure, which was initiated in 2015 with the removal of two monoline credit enhancers.

Getlink has transferred, by means of share contributions, its holdings in the two concessionaires (France Manche SA and The Channel Tunnel Group Ltd) to Eurotunnel Holding SAS, in order to ring-fence the activities of the Fixed Link inside this sub-holding company, thereby separating them from the other activities of the Group, including Europorte (rail freight), ElecLink (electrical interconnector between the UK and France) and property development.

The objective of this re-organisation is to ensure a separation between the Eurotunnel debt linked to the Concessionaire businesses and the rest of the Getlink business, thereby enhancing the future financial flexibility of Getlink.

The Freshfields team was coordinated in Paris by Guillemette Burgala, counsel. Partner Alan Mason advised on the corporate aspects, partner Stéphanie Corbière advised on the finance aspects and partner Cyril Valentin advised on tax law aspects. Partner Pascal Cuche worked on the public law aspects.

In London, the Freshfields team was coordinated by partner Marcus Mackenzie, who advised on the finance aspects of the deal, with partners Stephen Hewes and Paul Davison providing advice on corporate and tax aspects respectively.