White & Case and Cleary Gottlieb advised on the deal.
A banking syndicate led by Bank of America, Crédit Agricole, HSBC and Société Générale acted 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 the banking syndicate on the transaction was led by partners Thomas Le Vert (Picture) and Séverin Robillard, and included partners Max Turner and Alexandre Ippolito and associates Tatiana Uskova, Paul-Grégoire Longrois and Sarah Kouchad.
Cleary Gottlieb advised Alstom with John Brinitzer and Pierre-Yves Chabert, Jeanne Theuret, Yohann Smadja, François Capoul, and Anton Nothias.
Involved fees earner: John Brinitzer – Cleary Gottlieb Steen & Hamilton; François Capoul – Cleary Gottlieb Steen & Hamilton; Pierre-Yves Chabert – Cleary Gottlieb Steen & Hamilton; Anton Nothias – Cleary Gottlieb Steen & Hamilton; Yohann Smadja – Cleary Gottlieb Steen & Hamilton; Jeanne Theuret – Cleary Gottlieb Steen & Hamilton; Alexandre Ippolito – White & Case; Sarah Kouchad – White & Case; Thomas Le Vert – White & Case; Paul-Grégoire Longrois – White & Case; Séverin Robillard – White & Case; Max Turner – White & Case; Tatiana Uskova – White & Case;