Antin Infrastructure Partners’ IPO on Euronext Paris

Mayer Brown, Kirkland & Ellis and Gide Loyrette Nouel advised Antin Infrastructure Partners, while White & Case advised the bank syndicate led by J.P. Morgan and Morgan Stanley.

Antin Infrastructure Partners (Antin) executed its initial public offering (IPO) on the regulated market of Euronext Paris.

The prospectus was approved by the French financial markets authority (Autorité des marchés financiers) on September 14, 2021 and the first trading occurred on September 24, 2021. The offering consisted of a total amount of around €550 million, with a capital increase of around €350 million and around €200 million in shares sold by Antin’s founding partners. The size of the offering may be increased to a maximum of around €632.5 million in the event of full exercise of the over-allotment option. It included a retail offering in France and an international private placement.

The offering was a success among major French and international institutional investors. The offer price was set at €24 per share, the top end of the proposed offer price range; the market capitalization of Antin thus amounts to around €4.1 billion.

Antin is a leading independent private equity firm focused on infrastructure investments. Based in Paris, London and New York, and fully owned by its partners, it employs more than 140 professionals. Antin targets majority stakes in infrastructure businesses in the energy and environment, telecom, transport and social infrastructure sectors. Since its founding, Antin has €19.9 billion in assets under management and has made investments in 28 companies. 

The Mayer Brown team included Tax Transactions & Consulting – partners Laurent Borey, Christopher Lalloz, and associate Louis Nayberg (all Paris) and Employment & Benefits partners – James C. Williams (Chicago), Sébastien Delaunay and associate Oriane Fabre (both Paris).

The Kirkland team was led by corporate partner Vincent Ponsonnaille, tax partners Jonathan Kandel, Andrew Douglas and Nadine Gelli and investment funds partner Erica Berthou. The team was supported by corporate associates Louis Gosset and Amanda Levi-Acobas and tax associates Nathan Langford and Edward Tan.

The White & Case team in Paris which advised on the transaction was led by partners Thomas Le Vert and Max Turner and included partners Emilie Rogey and Alexandre Ippolito, counsel Jean Paszkudzki and associates Tatiana Uskova, Paul-Grégoire Longrois and Sarah Kouchad.

The Gide Loyrette Nouel team included Olivier Diaz, Melinda Arsouze, Arnaud Duhamel, Guilhem Richard, Scott Logan, Corentin Charles, Marie-Hélène Gryparis, Noëmie Kabamba, Caroline Riesco, Magali Buchert, Alexandre Bochu.

Involved fees earner: Melinda Arsouze – Gide Loyrette Nouel; Alexandre Bochu – Gide Loyrette Nouel; Magali Buchert – Gide Loyrette Nouel; Corentin Charlès – Gide Loyrette Nouel; Olivier Diaz – Gide Loyrette Nouel; Arnaud Duhamel – Gide Loyrette Nouel; Marie-Hélène Gryparis – Gide Loyrette Nouel; Noëmie Kabamba – Gide Loyrette Nouel; Scott Logan – Gide Loyrette Nouel; Guilhem Richard – Gide Loyrette Nouel; Caroline Riesco – Gide Loyrette Nouel; Vincent Ponsonnaille – Kirkland & Ellis; Laurent Borey – Mayer Brown; Sébastien Delaunay – Mayer Brown; Oriane Fabre – Mayer Brown; Christopher Lalloz – Mayer Brown; Louis Nayberg – Mayer Brown; Alexandre Ippolito – White & Case; Sarah Kouchad – White & Case; Thomas Le Vert – White & Case; Paul-Grégoire Longrois – White & Case; Jean Paszkudzki – White & Case; Emilie Rogey – White & Case; Max Turner – White & Case; Tatiana Uskova – White & Case;

Law Firms: Gide Loyrette Nouel; Kirkland & Ellis; Mayer Brown; White & Case;

Clients: Antin Infrastructure Partners; JP Morgan; Morgan Stanley;

Author: Naoual Sadouqi