White & Case Advises Groupama on Sale of Three Percent Stake in OTP Bank
Global law firm White & Case LLP has advised Groupama on the sale of a three percent stake in OTP Bank.
The shares were sold via an institutional private placement with qualified investors by way of an accelerated bookbuilding for a total amount of €208 million.
This sale is part of Groupama's policy to diversify its assets. Following the placement, it will keep, directly or indirectly, around five percent of the company's share capital. Groupama will remain a significant shareholder and maintain its representation on the board of OTP Bank. In addition, Groupama will maintain a strong business relationship with OTP Bank through their exclusive banking partnership which covers nine countries in Central & Eastern Europe.
The placement of the OTP Bank shares was managed by Citigroup Global Markets and HSBC, acting as Joint Bookrunners.
The White & Case team in Paris which advised on the transaction was led by partners Séverin Robillard and Thomas Le Vert with support from associate Arthur de La Fage. Partner Colin Chang and counsel Max Turner advised on matters of US law.
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