Vallourec €1 billlion capital raising

8/4/2016

Share offer

Value:

€ 1 billion

Dollar value:

$ 1.063 billion

Status:

Completed

Date:

8/4/2016

Overview:

French pipe manufacturing company Vallourec successfully raised €1 billion by releasing equity.
Bpifrance and Nippon Steel Sumitomo Metal Corp (NSSMC) each took a 15% stake in the company.
The equity fundaraising is part of a wider strategy by the company to improve its financial position, other measures include a rights issue, downsizing its European assets, specialising its output and the creation of two hubs in Brazil and China with NSSMC.

John Crabb - Journalist

Jurisdiction:

France

Deal type:

Share offer

Practice area:

Capital markets : Equity

Governing law:

France

Industry sector:

Industrials and manufacturing

Firms:

Cleary Gottlieb Steen & Hamilton

Party: Issuer (Issuer)

Lawyers: Amélie Champsaur, Andrew Bernstein, Pierre-Yves Chabert, Valérie Lemaitre

Jeantet

Party: Nippon Steel & Sumitomo Metal (Acquirer)

Lawyers: Cyril Deniaud, Vincent Netter, Yvon Dréano

Skadden Arps Slate Meagher & Flom

Party: Nippon Steel & Sumitomo Metal (Acquirer)

Willkie Farr & Gallagher

Party: Bpifrance (Acquirer)

Lawyers: Daniel Hurstel, Thierry Laloum

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