Shearman & Sterling advised Constellium SE in connection with the transfer of its head office from Amsterdam to Paris.
The general meeting of shareholders of Constellium SE approved the transfer and the necessary amendments to the articles of association on November 25, 2019. The transfer of the headquarters became effective on December 12, 2019 upon registration of the Company in the Registre du Commerce et des Sociétés of Paris (Paris Trade and Companies Register).
This complex and innovative operation required the direct admission of Constellium SE shares to trading on the New York Stock Exchange, without going through the customary issuance of American Depositary Receipts. To achieve this, it was necessary to amend the provisions of the French Code commerce (Commercial Code) relating to the registration of shares in the name of shareholders (art. L.228-1). These changes were enacted by the Loi Pacte on May 22, 2019.
Constellium SE (NYSE: CSTM) is a global sector leader that develops innovative, value-added aluminium products for a broad scope of markets and applications, including aerospace, automotive and packaging. Constellium SE generated €5.7 billion of revenue in 2018. Constellium SE employs more than 4 500 employees in France, around 35% of its 13,000 employees are based worldwide.