PSA Peugeot Citroën announced on 8 March 2012 the launch of a capital increase with preferential subscription rights to existing shareholders for an amount of approximately € 1.0 billion. The proceeds from the capital increase will be used principally to fund strategic investments related to projects core to the global strategic alliance with General Motors.
As part of this transaction, General Motors will acquire a 7% stake in PSA Peugeot Citroën through the acquisition and exercise of preferential subscription rights from the Peugeot Family Group and the acquisition of treasury shares from PSA Peugeot Citroën, making it the second largest shareholder of PSA Peugeot Citroën behind the Peugeot Family Group and signaling its commitment to the long term strategic alliance with PSA Peugeot Citroën.
The issue is fully underwritten by a syndicate of banks led by BNP Paribas, Morgan Stanley and Société Générale as Global Coordinators, Joint Lead Managers and Joint Bookrunners and comprising HSBC as Co-Lead Manager and Joint Bookrunner, Crédit Agricole CIB, Citi and Natixis acting as Co-Lead Managers, and Banca IMI, Banco Santander, BBVA, Commerzbank, Crédit Mutuel-CIC and Unicredit, acting as Co-Managers.
Linklaters acted as counsel to the syndicate of banks. The Paris team was led by capital markets partner Séverin Robillard, assisted by Thomas Le Vert, Tatiana Uskova and Cibele Antunes. Partner Luis Roth, assisted by Max Turner, handled the US aspects. Thomas Perrot, counsel, handled the tax matters.
Linklaters in Paris regularly acts for issuers, financial institutions and banks’ syndicates, in relation to equity, equity-linked and debt offerings, listings and restructurings on stock exchanges in all the major trading centres of the world. The capital markets team in Paris has recently advised on the share capital increases of Michelin, Axa and Saft, on the convertible bonds issue for Nexans, CGG Veritas and Air France-KLM and the initial public offerings of Medica and Groupe Lucien Barrière.
For further information please contact:
Solène Guesdon+33 1 56 43 59 69
