October 7, 2019
Cleary Gottlieb represented the underwriters in Verallia’s initial public offering, which launched on September 23, 2019.
The transaction priced on October 3, 2019, and closed on October 7, 2019.
The IPO consisted of a secondary offering, by Horizon Parent Holdings Sàrl, which is 90% owned by Apollo Global Management Inc. and 10% owned by Bpifrance Participations, certain managers of the group, and certain co-investors, of approximately €888 million based on the offering price of €27. If the overallotment (greenshoe) option is exercised in full, the total offering will amount to €978 million.
The shares were offered to the public in France and internationally in private placements, including under Rule 144A in the United States. BNP Paribas, Citigroup Global Markets Limited, and Deutsche Bank AG, London Branch acted as joint global coordinators, joint lead managers, and joint bookrunners; Banco Santander S.A., Barclays Bank PLC, Crédit Agricole Corporate and Investment Bank, Credit Suisse Securities (Europe) LLP, and Société Générale acted as joint lead managers and joint bookrunners; and Apollo Global Securities LLC and Raiffeisen Centrobank AG acted as co-lead managers in the offering.
Verallia is the leading European producer of glass packaging for beverages and food, the second-largest producer in Latin America, and the third-largest producer globally. It offers innovative, customized, and environmentally friendly solutions for glass packaging to more than 10,000 customers worldwide.