White & Case Advises Bank Syndicate on PSA Peugeot Citroën's €3 Billion Capital Increase | White & Case LLP International Law Firm, Global Law Practice
White & Case Advises Bank Syndicate on PSA Peugeot Citroën's €3 Billion Capital Increase

White & Case Advises Bank Syndicate on PSA Peugeot Citroën's €3 Billion Capital Increase

Global law firm White & Case LLP has advised a syndicate of banks led by Banco Santander, BNP Paribas, Citigroup, Crédit Agricole Corporate and Investment Bank, Deutsche Bank, HSBC, Morgan Stanley, Natixis and Société Générale Corporate & Investment Banking, acting as global coordinators and joint bookrunners, on PSA Peugeot Citroën's €3 billion capital increase.

The capital increase consists of two phases, a reserved capital increase of €1.048 billion to be subscribed by Dongfeng Motor Group and the French state on an equal basis, at a subscription price of €7.5 per share, and a rights issue of around €1.95 billion open to all Peugeot SA shareholders including Dongfeng and the French state.

Dongfeng, the French state and the family shareholders will each own a stake of around 14 percent in the French carmaker's share capital following the capital increase.

The aim of the transactions is to strengthen the group's balance sheet and liquidity while giving PSA Peugeot Citroën the means to undertake key investments in establishing its 'Back in the Race' strategic plan, enabling the carmaker to reinforce its competitiveness in Europe and its globalization strategy.

The White & Case capital markets team which advised the banking syndicate was led by partners Séverin Robillard and Thomas Le Vert with support from associates Tatiana Uskova and Petya Georgieva. Partner Colin Chang and associate Jordan Zaluski advised on US law aspects and partner Alexandre Ippolito and associate Marcus Schmidbauer advised on tax issues.

White & Case recently advised the lenders on a new €3 billion syndicated credit facility signed by PSA Peugeot Citroën. This transaction, as well as the capital increase, is part of the four major industrial and financial operations projects for the PSA Peugeot Citroën group's expansion and growth.

Press Contact
For more information please speak to your local media contact.