Morgan Stanley in Technicolor Rights Offering

August 14, 2012

Cleary Gottlieb is representing Morgan Stanley in connection with the €191 million capital increase of Technicolor, comprised of a reserved capital increase in favor of funds managed by Vector Capital and a €96 million rights issue. The rights issue includes a public offering in France, an international offering to institutional investors outside France, the United States and Canada and a private placement to qualified institutional buyers in the United States and to accredited investors in Canada. The reserved capital increase closed on July 16 and the rights issue closed on August 14.

Technicolor is a worldwide technology leader in the media and entertainment sector. It delivers advanced video services to content creators and distributors and also benefits from an extensive intellectual property portfolio focused on imaging and sound technologies. Cleary Gottlieb represented the underwriters in the privatization of Technicolor's predecessor company in 1999/2000 and the placement agents in a rights offering by Technicolor in 2010.