Bredin Prat and Davis Polk & Wardwell advised J.P. Morgan Securities Ltd. as global coordinator on a secondary offering of 24.2 million shares of Renault S.A. by the French Finance Ministry. The shares were placed under Rule 144A and Regulation S and raised approximately €1.2 billion. The sale is part of the French government’s ongoing privatization of Renault and will reduce the government’s stake to about 15 percent in the company.
Headquartered in Boulogne-Billancourt, France, Renault is France’s second-largest automobile manufacturer.
The Davis Polk corporate team included partner Margaret E. Tahyar of the Paris office and associate Tiffany Williamson of the London office.