Adecco Group places new shares, raising approx EUR 232m. The advisors
On September 7, 2021, Adecco Group 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.
The advisors
Homburger advised Adecco Group with respect to all aspects of Swiss law. The Homburger team was led by partners Daniel Daeniker (corporate / m&a and capital markets, pictured top right) and Benjamin Leisinger (capital markets, pictured top left) and included counsel Eduard De Zordi (capital markets) as well as associate Carlo Sulser (corporate / m&a).
Advestra acted as legal counsel to the syndicate banks. Bank of America Merrill Lynch, J.P. Morgan and UBS were acting as Joint Global Coordinators and Joint Bookrunners and Société Générale as Joint Bookrunner in the offering. The team included Annette Weber (pictured left), Thomas Reutter and Valérie Bayard (all capital markets).
