A&O Shearman advises RAG-Stiftung on successful placement of shares in Evonik Industries AG

Published Date
May 22, 2024
A&O Shearman has advised RAG-Stiftung on the placement of 23.4 million shares in Evonik Industries AG (“Evonik”) through an accelerated bookbuild offering to institutional investors.

The placement price per share was EUR19.99, resulting in gross proceeds of approximately EUR468 million. The transaction was carried out in the form of a private placement and represents approximately 5.0% of Evonik's total issued shares. Following completion of the placement, RAG‑Stiftung holds approximately 47% of shares in Evonik and thus remains a strong anchor shareholder of the company.

This strategic decision and the successful placement mark an important step for RAG‑Stiftung and Evonik, as they increase the liquidity of the stock while supporting the foundation's long-term investment strategy.

The A&O Shearman team was led by partner Dr Hans Diekmann (Corporate/M&A, Düsseldorf) and further comprised partner Dr Knut Sauer, counsel Nadine Kämper (both Capital Markets, both Frankfurt) and associates Patrick Reuter (Capital Markets, Frankfurt) and Luise von Braunschweig (Corporate/M&A, Düsseldorf). Partner Marc Plepelits and senior associate Martin Schmidt (both U.S. Corporate Finance, both Frankfurt) advised on U.S. law issues.

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