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White & Case Advises FFP on Peugeot S.A. Equity Swap

Global law firm White & Case LLP has advised FFP on the implementation of an equity swap, entered into with an investment services provider, under which FFP is entitled to acquire 18.1 million shares of Peugeot S.A. for a total amount of €228 million.

The shares acquired would represent two percent of Peugeot S.A.’s capital, in accordance with the exception to the stand still commitment provided in the Combination Agreement signed by Peugeot S.A. and Fiat Chrysler Automobiles N.V. on December 18, 2019.

White & Case recently advised FFP on its inaugural €300 million bond issue and the sale of its 5.9 percent stake in DKSH, a leading Swiss market expansion services group with a focus on Asia.

FFP is an investment company listed on Euronext Paris, majority-owned by Établissements Peugeot Frères and led by Robert Peugeot. FFP is one of Peugeot S.A.’s main shareholders and pursues a strategy of long term investments through holding minority stakes. It holds stakes in listed companies including SEB, Safran, ORPEA, LISI and SPIE, non-listed companies including Tikehau Capital Advisors, Acteon and Total-Eren, co-investments including IHS and JAB Holding, private equity funds and real estate including SIGNA Prime Selection and Immobilière Dassault.

The White & Case team in Paris which advised on the transaction included partners Thomas Le Vert, Séverin Robillard, Grégoire Karila and Alexandre Ippolito, with support from associates Boris Kreiss, Charles Linel and Guillaume Keusch.

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