Les Echos Capital Finance | Très chers « manpacks »

Our partner Benoît Greteau has been interviewed by Les Echos Capital Finance about the new tax framework for management packages, recently clarified in the French Finance Law 2025.

The proposition, which has been eagerly awaited by private equity players, aims to secure the tax regime applicable to gains from management packages. However, a number of grey areas remain, in particular as regards the notion of securities acquired in connection with the performance of duties and the methods for calculating the performance multiple.

“Since 2021, the subject has become very sensitive for all private equity practitioners and players. A secure framework is therefore welcome. It could even have a favourable effect on the liquidity of certain holdings for which the difficulty of understanding the level of tax risk was likely to slow down negotiations”, emphasises Benoît Greteau.

Read his full analysis in Elise Brocard’s article