14 November 2004 – LAWFUEL – First for law news – Allen & Overy Pari…

14 November 2004 – LAWFUEL – First for law news – Allen & Overy Paris has advised Deutsche Bank AG London, Lazard-IXIS and Société Générale in the disposal of 15% of the share capital (of its total 20,3% stake) held by Vivendi Universal in Veolia Environnement.

Allen & Overy Paris handled the legal aspects of the transaction which is being implemented in three phases: the disposal of 10% of the shares by way of an accelerated placement to the aforementioned banks, acting as joint bookrunners; the disposal of a further 2% to Veolia Environnement; and the disposal of 3% to Société Générale in the context of a derivative transaction.

The Paris office Equity Capital Markets team which is experienced in a wide range of ECM transactions, was led by partner Pierre Gissinger (Capital Markets) who also handled the derivatives aspects, and partner Jean-Claude Rivalland (Corporate/Mergers & Acquisitions) with the assistance of Michael Loy (senior associate) in relation to the legal aspects of the private placement.

U.S. law advice was provided by partner Bart Capeci (Capital Markets – ICM US Law Group) and associate Meredith Campanale (Capital Markets – ICM US Law Group) based in Allen & Overy’s London office.

Commenting on this transaction, Pierre Gissinger said: “We are delighted to have had the opportunity to work alongside the bookrunners of this high profile equity capital markets transaction. This illustrates our capacity to fully deploy our cross-departmental skills to the benefit of our clients.”

Jean-Claude Rivalland added: “This breadth of our expertise certainly contributed to the speed with which we were able to complete this transaction, which was finalised in less than a week”.

Orrick (Raphaële Courtier) advised Vivendi Universal.

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