Sale of Alstom shares by Bouygues

Bouygues : sales of Alstom shares by Bouygues


Press release – Paris, 29/09/2020

Sale of Alstom shares by Bouygues

Not for distribution, directly or indirectly, in the United States, Canada, Australia or Japan 

Bouygues S.A. (“Bouygues”), whose stake in Alstom S.A. (“Alstom”) amounts to approximately 32.9 million shares (representing approximately 14.5% of its share capital) announces that it intends to sell 11 million shares (representing approximately 4.8% of its share capital). This transaction would follow the sale of 29.15 million of Alstom shares in September 2019. 

Bouygues enters into a forward sale transaction (the “Forward Sale Transaction”) with BNP Paribas (subject to the effective completion of the Offering as described below), which settlement will occur on November 3rd, 2020.  

Upon physical settlement of the Forward Sale Transaction, Bouygues will retain a stake of approximately 9.7% of Alstom share capital. Until the physical settlement of the Forward Sale Transaction, Bouygues will retain the full ownership of its 32.9 million shares and associated 65.9 million voting rights in order to vote in favour of the contemplated acquisition of Bombardier Transportation at the upcoming extraordinary shareholders’ meeting on October 29th, 2020. Bouygues reiterates its confidence in Alstom’s management team and its strategy.  

In order to hedge the Forward Sale Transaction, BNP Paribas will conduct an accelerated bookbuilt offering to qualified investors (the “Offering” and together with the Forward Sale Transaction, the “Transaction”) for an equivalent number of shares under the Forward Sale Transaction. The Offering will commence with immediate effect following this announcement. Bouygues will announce the results of the Offering at the end of the bookbuilding process. 

This Transaction will provide Bouygues with increased financial flexibility. 

Bouygues has agreed to enter into a lock-up undertaking on its shareholding in Alstom of 90 days post the Offering settlement, subject to customary exceptions. 

BNP Paribas is acting as sole global coordinator.  

Alstom shares are listed on the regulated market of Euronext in Paris (ISIN code: FR0010220475). 

DISCLAIMER 

• The Transaction was considered by Bouygues SA, before its disclosure, as inside information within the meaning of the applicable regulations (Article 7.1 of EU Regulation 596/2014, April 16, 2014).