A&O Shearman supports Wendel on EUR591 million Bureau Veritas share placement

The sale has been carried out through an accelerated bookbuilding process reserved for qualified investors as well as international institutional investors.

This transaction prepares for the settlement of the exchangeable bond by monetizing the underlying shares of the bond and simultaneously neutralizing the optional component of the instrument by implementing a symmetrical hedging protection to the one of the exchangeable bond.

This strategic move enables Wendel to strengthen its financial flexibility ahead of the exchangeable bond’s maturity.

The transaction was led by BNP Paribas and Goldman Sachs Bank Europe SE as global coordinators and joint bookrunners, alongside Société Générale as joint bookrunner.

The A&O Shearman team was led by Paris-based M&A partner Olivier Thébault, supported by senior associate Jade Billère-Mellet and associate Bénédicte Cheyrou-Lagrèze on the capital markets aspects. Partner Diana Billik and associate Maggie Casteel advised on U.S. law aspects, and counsel Nadège Debeney on the hedging aspects.