Caisse des Depots et Consignation invests in European submarine cable Medloop

Client(s) Caisse Des Depots ET Consignations

Jones Day advised Caisse des Depots et Consignation ("CDC") with its investment in Fiberspirit, a SPV owning and operating the European submarine cable system managed by Medloop connecting France, Spain, and Italy. The transaction included the transfer of the cable from Sipartech, a major European fibre operator to Fiberspirit.

Our work included corporate, regulatory, public law, competition, and financing aspects. In particular, we assisted the client with: (i) due diligence; (ii) analysis of the requested permits regarding the roll-out of the submarine cable in France, Spain, and Italy and the transfer of the infrastructure from Sipartech to Fiberspirit; and (iii) drafting, negotiating and signing of (a) the investment agreement, (b) the intra-group loan agreements/current account agreements, and (c) the full set of agreements related to the project from the construction, maintenance, IRUs, leases, interface, and landing party agreements to the intra-group agreements.