Adecco Group AG’s €232.29 Million Accelerated Bookbuild Offering

Valérie Bayard,Thomas Reut­ter,Annette Weber,Daniel Daeniker,Eduard De Zordi,Benjamin Leisinger,Carlo Sulser,Advestra,Homburger,Adecco,Bank of America Merrill Lynch,JP Morgan,Société Générale,UBS,

Homburger advised Adecco Group. Advestra acted as leg­al coun­sel to the syn­dic­ate banks.

Adecco Group AG, the world’s leading workforce solutions company, offering flexible placement, permanent placement, outsourcing and managed services across all sectors, successfully raised approximately EUR 232.29 m (CHF 252.96 m) through the placement of 5.1 m new shares by way of an accelerated bookbuild offering.

The offering was done by way of a private placement exclusively to professional investors in Switzerland, outside of Switzerland and the United States to institutional investors (in reliance on Regulation S under the U.S. Securities Act of 1933) and in the United States to qualified institutional buyers (in reliance on Rule 144A under the U.S. Securities Act of 1933).

The first day of trading of the new shares on the SIX Swiss Exchange is September 9, 2021. Closing will take place on September 10, 2021. Adecco Group intends to use the net proceeds from the Capital Increase to fund, in part, the acquisition of AKKA Technologies, which was announced on  July 28, 2021.

BofA Securities, J.P. Morgan and UBS acted as Joint Global Coordinators and Joint Bookrunners for the Capital Increase. Société Générale acted as Co-Bookrunner.

The Homburger team was led by partners Daniel Daeniker (Picture – Corporate / M&A and Capital Markets) and Benjamin Leisinger (Capital Markets) and included counsel Eduard De Zordi (Capital Markets) as well as associate Carlo Sulser (Corporate / M&A).

The Advestra team included Annette Weber, Thomas Reut­ter and Valérie Bayard (all Cap­it­al Markets).

Involved fees earner: Valérie Bayard – Advestra; Thomas Reut­ter – Advestra; Annette Weber – Advestra; Daniel Daeniker – Homburger; Eduard De Zordi – Homburger; Benjamin Leisinger – Homburger; Carlo Sulser – Homburger;

Law Firms: Advestra; Homburger;

Clients: Adecco; Bank of America Merrill Lynch; JP Morgan; Société Générale; UBS;

Federica Tiefenthaler

Author: Federica Tiefenthaler