French resistance gives way to entente cordiale

Article Abstract:

There is currently a positive business environment in France. Business leaders are seeking scale on a global basis, and mergers and acquisitions are no longer closely connected with privatizations and the decline of the conglomerate. Progress has been made with the liberalization of the telecommunications and energy markets following strong pressure from the new European Commission. Another strong pressure on France is the internationalization of institutional investment. Announced acquisition and merger deals in France in 1999 were worth $165 billion. Activity levels have been lower so far in 2000.

France

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Bougie knights serve up heavy metal

Article Abstract:

A management committee has been set up to manage the merger between Alcan, Pechiney and Alusuisse. The chairmen of each company sits on the committee and they can elect four others onto the board. The merger has affected the aluminium industry and Alcoa has bid $4.4 billion for Reynolds so that it will still be the biggest producer of aluminium. There are likely to be 4,500 redundancies at Pechiney and the divestment of its share of National Can. This is supposed to happen before Feb 2000.

Aluminum industry, Alcan Aluminum Corp., Pechiney Corp., Alusuisse

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Small fish in a big pond

Article Abstract:

Law company, Salans Hertzfield & Heilbronn of Paris, France is to merge with Christy & Viener of the US on January 1 1999. The new venture will be dubbed Salans Hertzfield Heilbronn Christy & Viener in the US, but will retain its existing name in Europe. Salans was recently responsible for the 49 million pound sterling purchase of BRS Truck Rentals by Volvo.

Legal services, Offices of Lawyers, Management, Law firms, Salans, Christy and Viener

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