On October 1, Alstom completed a new share issuance through which it increased its share capital by 4.45%, for a total amount of €350 million, after the exercise of the extension facility. This offering was conducted as a private placement to institutional investors, through an accelerated book building (ABB) led by Crédit Agricole CIB (Global Coordinator, Lead Manager and Bookrunner), BNP Paribas, Natixis and Société Générale (Joint Lead-Managers and Joint Bookrunners).
The settlement and delivery of the new shares took place on October 4, 2012.
Alstom stated that “This equity offering aims primarily at financing on-going transactions, namely the remaining payment of around USD350 million related to the 25% stake in the rolling stock Russian Company Transmashholding. The proceeds may also allow the Group to make some other add-on operations in the renewable or grid businesses.”
The Shearman & Sterling team was led by partners Hervé Letréguilly and Sami Toutounji, assisted by Séverine de La Courtie and Alison Howell, associates.
