Paris, 10 February 2021 – Jeantet is advising Nippon Steel Corporation, Vallourec’s historical shareholder, in the financial restructuring of Vallourec, involving a capital increase with maintained pre-emptive rights.
The listed specialist in unwelded tubes, Vallourec S.A. announced on 3 February of this year that it had crossed a major barrier in the structuring of its financial debt in an amount of approximately 3.5 billion euros, with the signing of an agreement in principle with its principal creditors.
Nippon Steel Corporation, a historical and significant shareholder, also intends to subscribe to new Vallourec shares under a capital increase operation with maintained pre-emptive rights which remains subject, notably, to the approval of the Vallourec shareholders’ general meeting.
The Jeantet teams is composed of Yvon Dreano and Vincent Netter, Partners, and
Alexandre Naudeau (Corporate/M&A) and Cyril Deniaud, Partner (Capital Markets).
The Gide team, which was also advising Nippon Steel Corporation, is notably composed of Olivier Diaz, Jean-Gabriel Flandrois and Charles de Reals.
Vallourec is advised by Weil, Gotshal & Manges, with a team led by Anne-Sophie Noury,
David Aknin and Agathe Soilleux. Latham & Watkins is advising Vallourec on anti-trust matters, with a team composed of Jacques-Philippe Gunther, Rita Motta and Louis Bouyala.
The main debt-holding funds are advised by White & Case with, amongst others, Saam
Golshani and Denise Diallo.
The commercial banks are advised by Goodwin Procter with a team composed notably of Céline Domenget-Morin and Arnaud Fromion.
Bpifrance Participations, another Vallourec reference shareholder, is advised by the Willkie Farr & Gallagher firm with Lionel Spizzichino.