Shearman & Sterling advised the underwriters, led by Morgan Stanley, Deutsche Bank and ABN AMRO, with respect to the international aspects of ABN AMRO’s €3.8 billion IPO and listing of shares on the Amsterdam Stock Exchange. This is the largest-ever Dutch privatization and the largest-ever Dutch IPO.
The Dutch state sold 23 per cent of its holdings, selling 188 million shares at €17.75 apiece in the initial public offering, valuing ABN AMRO at €16.7 billion. The full group of underwriters includes Morgan Stanley, Deutsche Bank, ABN AMRO, Bank of America, Barclays, Citigroup, JPMorgan Chase, ING Groep and Rabobank.
Shearman & Sterling’s European Capital Markets practice has been active in advising on many of the highest-profile IPOs and privatizations in Europe. Earlier this month, the firm announced its lead role advising on Poste Italiane’s €3.4 billion IPO and the listing of its ordinary shares on the Milan Stock Exchange.
The Shearman & Sterling team was led by partner David Dixter and associates Pawel Szaja and Rainer Adlhart (all London-Capital Markets). Partner Barney Reynolds and counsel Azad Ali (both London-Financial Institutions Advisory & Financial Regulatory) advised on regulatory matters. Partner Kristen Garry (Washington, DC-Tax) and associate Adam Sternberg (New York-Tax) advised on US tax matters.
Source: www.shearman.com
