Global law firm White & Case LLP has advised a banking syndicate led by Bank of America, Crédit Agricole, HSBC and Société Générale as joint global coordinators, lead managers and joint bookrunners, on Alstom’s approximately €2 billion share capital increase with shareholders’ preferential subscription rights of Alstom.
The proceeds of the capital increase, which was launched on November 16, 2020, will be used to finance in part the acquisition of Bombardier Transportation, a leading player in rail transportation, which is expected to amount to up to €5.3 billion. The capital increase is part of the total equity financing of approximately €5 billion that also includes capital increases reserved to affiliates of institutional investor Caisse de dépôt et placement du Québec (CDPQ) and Bombardier Inc., in minimum amounts of €2.63 billion and €500 million, respectively.
Alstom is a global leader in rail transportation, recording sales of €8.2 billion and booking orders of €9.9 billion in the 2019/20 fiscal year. Alstom shares are admitted to trading on the regulated market of Euronext Paris.
The White & Case team in Paris which advised on the transaction was led by partners Thomas Le Vert and Séverin Robillard, and included partners Max Turner and Alexandre Ippolito and associates Tatiana Uskova, Paul-Grégoire Longrois and Sarah Kouchad.
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