Linklaters has advised Schneider Electric on its share capital increase without shareholders’ preferential subscription rights, conducted through an accelerated bookbuilding process for an amount of approximately €6bn. This is the largest accelerated equity capital markets offering ever by a French company.
The proceeds of the capital increase will contribute to the financing of Schneider Electric’s planned acquisition — at an equity value of approximately €20bn — of US-listed PTC Inc., a leader in complex industrial product design, engineering and data management. Schneider Electric is a global provider of energy transition technology.
The Linklaters team advised on French and US law aspects of the offering and was led by Capital Markets lawyers Pierre-André Destrée, Counsel and Luis Roth, Partner, together with Corporate lawyers Hubert Segain, Partner, Camille Welfringer and Yohann Smadja, both Counsel, and Marie-Andrée Djiena, Associate. The team also included Partner Leïla Juvin, and associate Wassim Mokadem on tax matters.
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