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Darrois Villey Maillot Brochier advises Bouygues on its forward sale of Alstom shares through a “forward ABB”

Paris, 6 October 2020

Darrois Villey Maillot Brochier advises its client Bouygues S.A. (“Bouygues”) in connection with its forward sale of 11,000,000 shares in Alstom S.A. (“Alstom”), representing 4.8% of its share capital, through a “forward ABB” for a total amount of approximately € 462 million euros.

The transaction was carried out through a forward sale transaction, the physical settlement of which will occur on 3 November 2020, allowing Bouygues to retain full ownership of its shares and associated voting rights in order to vote in favour of the contemplated acquisition of Bombardier Transportation at Alstom’s upcoming extraordinary general meeting.

In order to hedge the forward sale transaction, BNP Paribas conducted an accelerated bookbuilt offering reserved for qualified investors for an equivalent number of shares.

Upon settlement of this transaction, Bouygues will retain a stake of approximately 9.7% of Alstom’s share capital.

The Darrois Villey Maillot Brochier team is led by Bertrand Cardi and Laurent Gautier (partners) and includes Nicolas Mennesson (partner) and Romain Querenet de Breville on corporate and capital markets aspects, together with Vincent Agulhon (partner) on tax aspects.

Rothschild & Co and Perella Weinberg Partners are acting as financial advisors to Bouygues.