Founded in Paris in 1920, Gide is a leading international law firm with 12 offices spread throughout the world.
Gide is physically present in six regions of the world, with 11 offices, enabling it to act on cases globally.
Gide has advised Bpifrance on the initial public offering of the Verallia group on Euronext Paris.
The prospectus was approved by the French Financial Markets Authority on 20 September 2019, and the global offering was EUR 888 million, which may increase to EUR 978 million in the event the over-allotment option is exercised in full. Verallia's IPO on the regulated market of Euronext Paris took place on 4 October 2019, the date of its first listing. This is the biggest IPO on Euronext Paris in the past two years.
Following the initial public offering, Horizon Parent Holdings, of which 90% is held by AIF VIII Euro Leverage, L.P., an investment fund managed by an affiliate of Apollo Global Management, Inc., and 10% is held by Bpifrance Participations, retains approximately 64% of the share capital and the free float amounts to approximately 18% of the share capital (this could increase to 21% if the over-allotment option is exercised in full).
Bpifrance Participations has subscribed for a direct stake of 1.3% of the capital of Verallia in the IPO, while Brazil's BWSA took a stake of 8.6%.
Verallia is the leading European and third largest producer globally of glass packaging for beverages and food products. During the 2018 financial year, Verallia posted a consolidated turnover of EUR 2.4 billion, with production totalling 16 billion glass bottles and jars. Verallia has an industrial presence in 11 countries, with 32 glass production sites, and maintains proximity with its customers through around 10,000 employees.
Gide advised Bpifrance Participations with a team comprising counsel Alexandre Bochu (tax), working with associates Juliette Pierre and Joanna Barry.
Verallia was advised by White & Case, the banking syndicate by Cleary Gottlieb, and Apollo by Kirkland & Ellis.
