Shearman & Sterling is advising on Club Méditerranée's €102 million transaction combining a capital increase of €51 million and an issuance of ORANE (bonds redeemable in new or existing shares) of €51 million, with preferential subscription rights, along with an international private placement, including a private placement by the company in the United States pursuant to section 4(2) of the 1933 U.S. Securities Act. The exercise subscription period runs from May 11, 2009 to May 26, 2009 inclusive.

French holiday group Club Méditerranée operates in 40 countries, with 80 villages on five continents and a cruise ship, the Club Med 2.

Shearman & Sterling is advising CALYON and NATIXIS as joint-lead managers and joint-bookrunners in connection with this transaction, with a team led by partners Bertrand Sénéchal (Paris-Capital Markets) and Ward McKimm (London-Capital Markets) assisted by associates Séverine de La Courtie (Paris-Capital Markets), Guillaume Dolidon (Paris-Capital Markets), Trevor Ingram (Paris-Capital Markets), Cedric Van den Borren (London-Capital Markets) and Régis Henry (Paris-Capital Markets) for capital markets aspects and Anne-Sophie Maes (Paris-International Tax) and Stéphanie Gicquel (Paris-International Tax) for tax aspects.