Herbert Smith Freehills Paris has recently advised Icade, a listed French real estate investment company and subsidiary of the Caisse des Dépôts, on the sale of a portfolio of "Mr. Bricolage" stores, after a call for proposals from investors, via the sale of Icade's entire stake in the company "Icade Bricolage" to the Tikehau Capital group.

This portfolio, mostly acquired by Icade in early 2008, comprises 36 assets located throughout France. The transaction was carried out based on a value of 126.2 million euros excluding duties.

The Herbert Smith Freehills team was led by corporate partner Frédéric Bouvet, assisted by Laurence Vincent and Céline Le Bot on the corporate aspects, as well as Pierre-Nicolas Sanzey (partner) on the real estate aspects and Jérôme Le Berre for tax issues.

Icade was also advised by Catella, who had received a sale side mandate and Etude Thibierge on certain real estate aspects of the transaction.