Closing of the sale of Camso Inc. to Michelin | The key project management role played by lawyers

On December 18, 2018, Michelin completed the acquisition of Camso, a world leader in the manufacture of tires and tracks for off-road vehicles. Apart from its value of US$1.7 billion, what distinguishes this transaction from others is its complexity and the role played by the lawyers involved in the legal management of the project.

Lavery had an opportunity to play a dual role in this major transaction: we assisted our long-time client, Camso Inc., in selling all the shares of its share capital, and we also represented the two majority shareholders: the Caisse de dépôt et placement du Québec (CDPQ) and the Fonds FTQ.

Camso owns nearly 50 companies, which include manufacturing and distribution companies, as well as investment and trading companies in 26 different countries. Managing the integration of the different legal realities of the jurisdictions in which the companies operate was crucial in order to complete Michelin’s acquisition of Camso.

Acting as much more than legal advisers, the lawyers involved were called on to coordinate the different aspects of the deal, brief the various parties and adapt to their cultural differences, and manage the different features and particular needs of Camso’s 50 companies on a case-by-case basis to ensure that they complied with Michelin's legal and administrative structure.

The transaction also stood out due to the integrated approach of the legal services provided by our team. It coordinated issues related to commercial law, labour and employment law, and dispute resolution.

In collaboration with the firm Baker McKenzie, the depth of expertise of the Lavery team, led by Édith Jacques and mainly involving Jean-Sébastien Desroches, Judith Houle-Couture, Pierre-Olivier Valiquette and Felicia Yifan Jin, made it possible to successfully carry out this complex mandate that brought together two world leaders in their industry.

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