Airbus Group Plans Sale of Additional Shares in Dassault Aviation

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By TESTCustomwebLP TESTCustomwebLP March 25, 2015 20:58

Airbus Group Plans Sale of Additional Shares in Dassault Aviation

Airbus Group plans to sell approximately 1.38 million shares that it owns in Dassault Aviation, representing around 15% of the share capital, following a bookbuilt offering. With this transaction, Airbus Group continues its plan to monetize its stake in Dassault Aviation.

The Placement is targeted at eligible institutional investors with final terms to be determined following a bookbuild which was launched at 08:00 a.m. CET today and is expected to end on tomorrow at the latest.

The French State has elected not to exercise its right of first refusal under the shareholder agreement with Airbus Group with respect to the Shares to be sold in the Placement.

In accordance with the initial agreement signed on 28 November 2014, Dassault Aviation will place an order for approximately 0.46 million of the Shares in the Placement at a maximum price of € 980 per share. This represents around 33% of the Placement and 5% of Dassault Aviation’s share capital. Airbus Group will reserve these Shares to Dassault Aviation, subject to such amount not exceeding the limit of 5% of Dassault Aviation’s share capital, at the Placement price. Should the Placement price be higher than € 980 per share, the price of the Shares sold in the Placement to Dassault Aviation will remain at € 980 while the price of the Shares to be sold to all other purchasers will remain at the higher Placement price.

In addition, Airbus Group has granted the Joint Bookrunners an over-allotment option of up to 10% of the portion of the Shares effectively placed with institutional investors (therefore excluding any of the Shares to be allocated to Dassault Aviation), which may be exercised on or before 24 April 2015.

BofA Merrill Lynch, Deutsche Bank, Goldman Sachs and JPMorgan are acting as joint bookrunners.

Certain institutional investors have already indicated non-binding interest for the full amount of shares being offered by the Seller at a price of € 980, excluding any of the Shares allocated to Dassault Aviation but including the over-allotment option.

Upon completion of the Placement, Airbus Group will hold up to around 27% of Dassault Aviation’s share capital and associated voting rights and will agree to a 180-day lock up for its remaining shares of Dassault Aviation, subject to certain exceptions and waiver by the Joint Bookrunners.

The final terms of the Placement are expected to be announced on or about 26 March 2015. The trading of the shares on Euronext Paris have been suspended at the request of Dassault Aviation.

The proceeds of the Placement will be used for the general corporate purposes of Airbus Group.

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By TESTCustomwebLP TESTCustomwebLP March 25, 2015 20:58