Darrois Villey Maillot Brochier advised Bouygues in connection with the combination between Alstom and Siemens
Darrois Villey Maillot Brochier advisedBouygues, a major shareholder of Alstom, in connection with the combination between Alstom and Siemens to create a European champion in mobility, with combined revenue of €15.3 billion.
Alstom and Siemens signed on September 26, 2017 a Memorandum of Understanding to combine their mobility businesses. The transaction will take the form of a contribution of the Siemens Mobility business including its rail traction drives business to Alstom in exchange for newly issued Alstom securities.
As part of the combination, Alstom existing shareholders will receive two special dividends: a control premium of €4.00 per share (total of €0.9 billion) to be paid shortly after closing of the transaction and an extraordinary dividend of up to €4.00 per share (total of €0.9 billion) to be paid out of the proceeds of Alstom’s put options for the General Electric joint ventures of approximately €2.5 billion, subject to the cash position of Alstom.
The DVMB team includes Jean-Michel Darrois, Bertrand Cardi and Christophe Vinsonneau (Partners), Damien Catoir (Counsel) and Cécile de Narp in corporate and Didier Théophile (Partner) and Guillaume Aubron for the antitrust aspects.
Alstom was advised by Cleary Gottlieb and Siemens by Latham & Watkins and Freshfields Bruckhaus Deringer (antitrust aspects).
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