Global law firm White & Case LLP has advised a consortium of banks led by Citigroup and Société Générale on the capital increase of Siemens Energy AG.
A total of 72,664,519 new shares were placed at a price of €17.32 per share. The gross issue proceeds amount to €1.259 billion. The new shares were placed exclusively with institutional investors by way of accelerated bookbuilding, excluding subscription rights. Admission to trading on the regulated market of the Frankfurt Stock Exchange (Prime Standard) is expected to occur on March 21, 2023.
The net proceeds are to be used to partially refinance the voluntary cash tender offer for all outstanding shares of Siemens Gamesa Renewable Energy, S.A.
The White & Case team in Frankfurt which advised on the transaction was led by partner Thilo Diehl and included partners Rebecca Emory and Karsten Wöckener, counsel David Santoro and associates Timo Lockemann and Jan-Christopher Wilhelms.
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