EUROAPI’s IPO on Euronext Paris

White & Case and Allen & Overy advised BNP Paribas, BofA Securities SE.

EUROAPI’s first trading day is scheduled for May 6, 2022, following the distribution by way of an exceptional additional dividend, exclusively in kind, of approximately 58% of EUROAPI shares to Sanofi shareholders with a parity distribution of one (1) EUROAPI share for twenty-three (23) Sanofi shares.

Following the listing, Sanofi will hold approximately 30% of the capital and voting rights of EUROAPI and has undertaken to keep its EUROAPI shares for a period of 2 years. The French State, through the French Tech Souveraineté fund, has undertaken to acquire 12% of the capital of EUROAPI. L’Oréal, the main shareholder of Sanofi, has undertaken to respect a retention period for its EUROAPI shares of 1 year after the payment of the dividend distribution.

EUROAPI is a world leader in active pharmaceutical ingredients with approximately 200 references in its portfolio, offering a wide range of technologies, while developing innovative molecules through its Contract Development and Manufacturing (CDMO) activities. With approximately 3,350 employees and thanks to its research and development capabilities and six production sites all located in Europe, EUROAPI supplies its active ingredients in more than 80 countries.

The White & Case team in Paris was led by Thomas Le Vert (Picture) and Séverin Robillard, partners, assisted by Tatiana Uskova, counsel, and Bénédicte Cheyrou-Lagrèze, associate. Max Turner, partner, advised on US law aspects. Jean Paszkudzki, partner, intervened on the corporate aspects. Estelle Philippi, partner, assisted by Claire Sardet, intervened on tax law aspects.

The Allen & Overy team in Paris consisted of Julien Roux (Partner), Tristan Jambu-Merlin (Senior Associate) and Quitterie d’Andoque (Partner), and also included Mathieu Vignon (Partner) and Virginie Chatté (Senior Associate) on taxation aspects.

Involved fees earner: Virginie Chatté – Allen & Overy; Quitterie d’Andoque – Allen & Overy; Tristan Jambu-Merlin – Allen & Overy; Julien Roux – Allen & Overy; Mathieu Vignon – Allen & Overy; Bénédicte Cheyrou-Lagreze – White & Case; Thomas Le Vert – White & Case; Jean Paszkudzki – White & Case; Estelle Philippi – White & Case; Séverin Robillard – White & Case; Claire Sardet – White & Case; Max Turner – White & Case; Tatiana Uskova – White & Case;

Law Firms: Allen & Overy; White & Case;

Clients: BNP Paribas; BofA Securities Europe SA; Crédit Agricole Corporate and Investment Bank; Deutsche Bank; JP Morgan; Natixis; Société Générale;

Naoual Sadouqi

Author: Naoual Sadouqi