Davis Polk advised the French State in connection with the disposal of 1.5% of the total share capital of EADS, completed on April 16, 2013, through a share buyback for a total amount of €483 million, and a subsequent private placement by way of an accelerated book-building relating to 2.1% of the total share capital for a total amount of €707 million and completed on May 2, 2013.
These trades took place in the context of the reorganization of EADS’ shareholding and governance that stems from the decision by Daimler and Lagardère to withdraw from the company after the negotiations for a merger between EADS and BAE Systems failed. Davis Polk has advised the French State, as shareholder of EADS, on all of these transactions since summer 2012.
EADS is a global leader in aerospace, defense and related services. In 2012, the Group, comprising Airbus, Astrium, Cassidian and Eurocopter, generated revenues of €56.5 billion and employed a workforce of over 140,000.
The Davis Polk corporate team included partners Christophe Perchet, Arnaud Pérès, Paul R. Kingsley, John B. Reynolds III and Simon Witty, counsel Natacha Marty and associates Thomas Bourdeaut, Jean-Baptiste Molmy, Amy T. Alter and Simon Evers. Members of the Davis Polk team are based in the Paris, New York and London offices.
