March 12, 2007
Paris Office Assists Schneider Electric in €1 Billion Share Capital Increase
Jon J. Lyman
On March 9, it was announced that Willkie client Schneider Electric has launched a share capital increase with preferential subscription rights valued at approximately €1 billion. Proceeds will be used, among other things, to partially fund the acquisition of American Power Conversion. The share capital increase comprises a public offering in France, an international offering for institutional investors and a private placement in the United States. A leading power and control specialist, Schneider Electric serves clients in the residential, building, industry, energy and infrastructure markets. It operates world-class brands including Merlin Gerin, Square D and Telemecanique. The transaction was handled by partners Laurent Faugérolas and Stéphane Sabatier; special European counsel Jon Lyman (London office); and associates Charles Cardon and Nicolas Tollet.