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Clifford Chance

Clifford Chance
Aline Cardin

Aline Cardin

Partner

Partner
Aline Cardin

Aline Cardin combines French and international securities offerings expertise covering IPOs, public offerings and private placements with a practice mixing acting for banks and for corporate issuers.

Aline also has a track record in advising listed companies on French corporate and securities law and corporate governance.

Global M&A Toolkit

Bringing clarity to complex cross-border M&A, providing in-depth analysis of the M&A trends across the globe

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Contact details

Career and qualifications

  • University Aix en Provence (Master II and DJCE International Business Law) 1991
  • Shearman & Sterling Paris 1993
  • Admitted as an avocat in Paris 1998
  • Joined Clifford Chance as a Partner 2011

Awards and citations

  • "Clifford Chance is particularly active in IPOs, but also demonstrates strength in rights offerings, convertible bonds, block trades and equity derivatives. Employee shares schemes and stock option schemes are another area of focus. US securities specialist Alex Bafi and Aline Cardin, an expert in French and international securities offerings, head the practice. Jointly with regulatory specialist Frédérick Lacroix the team advised Société Générale as shareholder and ALD as issuer on ALD's €1.2bn Rule 144A IPO on the Euronext Paris, assisting with both French and US law issues. On the block trade side, recent highlights include advising Altrafin on the sale of 8.4% of Altran's share capital by way of accelerated bookbuilding. Olivier Plessis made counsel and Julien Rocherieux was promoted to partner."
    Legal 500 EMEA, France, Capital Markets: Equity, 2019
  • Aline Cardin acts on a wide range of ECM operations including IPOs and private placements. Sources praise her "excellent technical skills."
    Chambers Europe, France, Capital Markets: Equity, 2019
    Chambers Global, France, Capital Markets: Equity, 2019
  • "Clifford Chance acts for corporates, financial institutions and funds, with experience spanning IPO and share capital increases as well as employee share and stock option schemes. US-law expert Alex Bafi is a key practitioner alongside Aline Cardin and Anne Lemercier. In a major highlight, the group acted for Société Générale on the IPO of its subsidiary ALD, acting for both Société Générale as shareholder and ALD as issuer. Other highlights include advising Altrafin on a share sale by accelerated bookbuilding involving institutional investors; handling the IPO and listing of Inventiva on the regulated market of Euronext Paris for Société Générale and KBC; and assisting Technip with employee share plans following its merger with FMC. BNP Paribas Fortis, Credit Suisse, Vallourec and Apax are also clients."
    Legal 500 EMEA, France, Capital Markets: Equity, 2018
  • "Aline Cardin has extensive experience in equity matters. Her practice spans IPOs, secondary offerings and securities offerings, both domestically and internationally."
    Chambers Global, France, Capital Markets, 2018
    Chambers Europe, France, Capital Markets, 2018
  • "Clifford Chance is ‘top of the range for equity capital markets work across Europe’, particularly for banks. The team has ‘a commercial approach’ and is ‘able to deal with complex transactions’ across French, UK and US law, often representing banks. Recent work includes advising Société Générale on Amundi’s IPO and a Rule 144A private placement in the US, as well as assisting Credit Suisse and Morgan Stanley with Solvay’s €1.5bn rights issuance with a Rule 144A placement in the US. The ‘outstanding’ US-qualified attorney Alex Bafi is ‘extremely experienced across geographies and a variety of transactions, and able to handle delicate issues in a deal through a very professional approach’. Aline Cardin and Gilles Lebreton are also highly regarded"
    Legal 500 EMEA, France, Capital Markets: Equity, 2017
  • According to one client, Aline Cardin is "a very good professional in France as well as internationally." She is recognised in particular for her work in the equity field, and recently advised a group of lead managers on the issue of Safran convertible bonds.
    Chambers Global, France, Capital Markets, 2017 
    Chambers Europe, France, Capital Markets, 2017
  • Equity-focused Aline Cardin specialises in French and international securities offerings. She advises both banks and issuers and has been described by clients as "pragmatic and deal-driven, and she manages to reconcile the interests of each party really well."
    Chambers Europe, France, Capital Markets, 2016
  • "Clifford Chance’s ‘high-level lawyers’ are ‘very expert, responsive and easy to work with’; the 40-lawyer team provides an ‘outstanding service’. It is especially recommended for handling ‘complex M&A transactions in France and abroad’ and has particular expertise in the defence, healthcare, banking and energy areas. Recent work includes handling many strategic public and private M&A transactions, such as advising Airbus on its joint venture with Safran and assisting Jacobs Douwe Egberts with the sale of Carte Noire. Clients include Société Générale, Rexel and Numericable. Mathieu Remy ‘combines perfect technical legal skills and business acumen with added value advice on complex situations’. Fabrice Cohen, Gilles Lebreton, Thierry Schoen and Laurent Schoenstein are also particularly recommended, and Catherine Astor-Veyres, Aline Cardin, Dessislava Savova and Yves Wehrli are other key figures".
    Legal 500 EMEA, France, Mergers & Acquisitions, 2016
  • Equity-focused Aline Cardin specialises in French and international securities offerings. She advises both banks and issuers and has been described by clients as "pragmatic and deal-driven, and she manages to reconcile the interests of each party really well."
    Chambers Global, France, Capital Markets, 2016
  • "With over 20 years of experience on French and international securities offerings, Aline Cardin has taken the lead role in the IPO of Constellium."
    Chambers Global, France, Capital Markets, 2015
  • "Aline Cardin has significant expertise in equity capital markets, where she advises clients on IPOs, secondary offerings and private placements."
    Chambers Europe, Capital Markets, 2014
  • "Clifford Chance was recently involved in high-profile distressed M&A transactions, notably in the banking sector where it assisted the French government with Crédit Immobilier de France’s bail-out. The firm also represented major French groups such as Carrefour in strategic deals in emerging countries. Mathieu Remy, who ‘can be trusted blindly’, has an outstanding transactional record. Other key names in the 36-lawyer team include Thierry Schoen, Yves Wehrli, Gilles Lebreton, Laurent Schoenstein, Catherine Astor-Veyres, Aline Cardin and Dessislava Savova, who advises on commercial and contractual aspects of M&A transactions."
    Legal 500, Mergers and Acquisitions, 2014
  • "Aline Cardin focuses on equity capital markets, with experience in both domestic and international transactions. She regularly advises financial institutions and corporate clients".
    Chambers Europe, Capital Markets, 2013
  • "Aline Cardin focuses on equity capital markets, with experience in both domestic and international transactions. She regularly advises financial institutions and corporate clients".
    Chambers Global, Corporate/M&A, France, 2013