Wendel Sells Bureau Veritas Shares for €1.1 Billion

Cleary Gottlieb represented Wendel in its sale, through an accelerated bookbuilding process, of c. 40.5 million shares of Bureau Veritas, representing c. 9% of the company’s share capital, for a total consideration of €1.1 billion.

The transaction launched on April 4, 2024, and closed on April 9, 2024.

The Bureau Veritas shares were offered to institutional investors by Goldman Sachs Bank Europe, acting as sole bookrunner.

Bpifrance purchased c. 4% of Bureau Veritas share capital for €500 million and was granted the right to nominate one director at the board of directors of Bureau Veritas. Bureau Veritas also participated in the accelerated bookbuilding process and repurchased c. 0.8% of its own share capital for €100 million.

Wendel remains Bureau Veritas’ largest and controlling shareholder with a c. 26.5% stake and c. 41.2% of the voting rights post transaction.