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News May 28, 2014

Shearman & Sterling Advises Underwriters in Initial Public Offering of Shares of Stabilus S.A. on Frankfurt Stock Exchange

Shearman & Sterling advised Commerzbank, J.P. Morgan, Société Générale and UniCredit Bank AG on the initial public offering of shares by Stabilus S.A. (“Stabilus”) on the Frankfurt Stock Exchange.The placement volume amounted to approximately EUR 227.3 million (around EUR 261.4 million if the greenshoe option is fully exercised).

The existing Stabilus shares traded on the regulated market (Prime Standard) of the Frankfurt Stock Exchange for the first time on May 23, 2014. Approximately 3 million new shares from a capital increase were admitted to trading on May 27, 2014. Based on the issue price of EUR 21.50, Stabilus has a market capitalization of approximately EUR 445.6 million

As a globally active automotive and industrial supplier, Stabilus develops and produces electromechanical drives, gas springs and dampers. The company is headquartered in Koblenz and employs approximately 4,000 people worldwide. In the 2012/2013 business year Stabilus generated revenue of approximately EUR 460 million.

The Shearman & Sterling team included counsel Ulrich Weidemann and associates Martin Schmidt, Simon Weiß (all Capital Markets, Frankfurt) and Astrid Mayer (Tax, Frankfurt), as well as partner Kristen Garry and associate Judy Fisher (both Washington DC-Tax). In 2013, Shearman & Sterling represented J.P. Morgan, Commerzbank and UBS in connection with a comprehensive refinancing for the Stabilus Group, consisting of a high yield bond and a revolving credit facility.