Lawyers Allen & Overy Advises Wagon PLC On Refinancing

LONDON – Allen & Overy LLP is advising Wagon plc, the European automotive components group, on its proposed refinancing initiatives.

The refinancing involves a GBP49 million 10 for 1 rights issue, which is being fully underwritten by funds managed by WL Ross & Co. LLC, a major shareholder in Wagon, and revised debt facilities of EUR155m provided by five banks. The refinancing is subject to a number of resolutions being approved by Wagon shareholders at a forthcoming general meeting, including the approval of a Rule 9 whitewash in relation to the underwriters.

The Allen & Overy team is being led by corporate partner Richard Hough, assisted by Andrew Rich, Clare Daniels, Andrew Davis, Calliopi Nicolaidou and Kamran Rabbani. Banking partner George Link advised Wagon on the revised debt facilities, assisted by Helen Dingley and Sunny Wong.

Richard Hough commented: “Having advised Wagon on its acquisition of Oxford Automotive in 2006, and its refinancing last year, we are delighted to be acting for Wagon again on this significant transaction. The refinancing will strengthen the financial position of the Group, allowing Wagon to develop recent contract wins and to pursue further growth opportunities.”

For further information please contact Campbell McIlroy, [email protected], on +44 20 3088 2783.

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