Hervé Letréguilly is a partner in the Paris Corporate practice.

He has extensive experience in initial public offerings, public tender offers, public and private M&A, global securities offerings (equity, equity-linked, debt including high yield), privatizations and with a focus on financial products. He also advises on corporate governance and financial regulatory matters.

Capital Markets

• Constellium SE on the transfer of its headquarters from Amsterdam to Paris.
• Orange on the completion of the sale of its remaining stake in BT Group plc for a net amount of £486 million.
• Nexans on its € 400 million Negotiable European Commercial Paper program- NEU CP.
• Nexans on the signature of a €600 million Revolving Credit Facility with 11 of its core banks for a period of five years, thereby extending the tenor of the Group’s access to liquidity until 2023.
• Celeste Management SA on the initial public offering of Neoen.
• Oddo BHF, acting as Global Coordinator and Joint Bookrunner, in connection with CGG’s capital increase with preferential subscription rights.
• Altice USA (NYSE: ATUS) on the separation of Altice USA from Altice N.V (Europe).
• BNP Paribas, HSBC, Crédit Agricole, ING, Société Générale and UniCredit as initial purchasers on CMA CGM's €500 million 5.250% senior notes due 2025.
• The Agence des Participations de l’État on the €1.53 billion sale of a 4.5% stake in Engie.
• Nexans in connection with the issuance of a €200 million bond.
• Bolloré on the completion on a 5-year €500 million bond issue, with an annual coupon of 2.00%.
• The Agence des Participations de l’État on the sale of a 4,1% stake in Engie for €1.14 billion.
• IPO and global offerings of equity by French and other European issuers Alstom, Euronext, Labco (IPO reportée), TxCell.
• Private placements, block trades (Airbus Group, Alstom, ENGIE, Medica, Rexel), Bank of America Merrill Lynch and Morgan Stanley on Groupe Bruxelles Lambert’s sale of Total’s capital.
• Bonds, convertible bonds and eurobond offerings: Alcatel-Lucent, Arcelor, Ausy, Altran Technologies, Ausy, Bolloré, Bouygues, Business Objects, Havas, France Telecom, GenSight, Groupe Eurotunnel, Nexans, Olympique Lyonnais Group, Orange, PSA, Publicis, Rhodia, STMicroelectronics N.V., Technip, Thomson multimedia,Unibail, Vivendi Universal.

Mergers and Acquisitions

• Vivendi on the acquisition of a 60% majority stake of the Bolloré Group in Havas.
• Novartis on its $3.9 billion acquisition of Nasdaq-listed Advanced Accelerator Applications.
• Japan Nuclear Fuel Ltd. (JNFL) in connection with its investment in French nuclear fuel cycle company, New Areva Holding (now called Orano), which is part of the €4.5 billion global restructuring of French nuclear energy group Areva.
• Alstom in connection with its public share buyback offer.
• HalioDx Group in connection with the creation of HalioDx Group and buy out of Qiagen Marseille assets by HalioDx Group.
• HalioDx in connection with a first financing round of €7.5 million and a Series B financing round of €18.5 million.
• Joint venture/cooperation agreements in the medical and bio-tech areas.
• Société Générale in the sale of its Greek Subsidiary, Geniki Bank, to Piraeus Bank.
• Tender offers on publicly listed companies, including advising : IntercontinentalExchange (ICE) on its friendly take-over bid for NYSE Euronext; IPSOGEN in connection with QIAGEN’s public tender offer to fully acquire IPSOGEN; the committee of independent directors of Neuf Cegetel in connection with the tender offer of SFR; Business Objects in SAP AG’s friendly tender offer on Business Objects; France Telecom’s public exchange offer and subsequent squeeze-out of minority shareholders of Orange; and Serono’s tender offer of all outstanding shares and certain other securities of Genset.
• Dassault Systèmes in its acquisition of IBM sales and client support operations encompassing DS's Product Lifecycle Management software application portfolio, as well as customer contracts and related assets.

Awards & Accolades

• “Hervé Letréguilly is ‘extremely knowledgeable’ and has strong experience in equity and equity-linked offerings and IPOs.” – Legal 500 EMEA 2020
• “Hervé Letréguilly is extremely knowledgeable and available for his clients. He has experience with many companies listed in France and abroad, which is a real plus.” – Legal 500 EMEA 2020
• Sources note that the Paris Capital Markets team has “strong knowledge and experience of the equity capital markets. Strong ability to advise within short time constraints and complex scenarios.” – Legal 500 EMEA 2020
• It is “easy to build strong and reliable relationships with Shearman’s ECM team. Very easy to reach them. They are quick to call you back.” – Legal 500 EMEA 2020.
• “The firm covers all legal aspects for difficult business cases: M&A, IPOs, as well as corporate law, financial law, competition. The resources allocated were suitable and the quality exceptional.” – Legal 500 EMEA 2020
• “The team is very professional, dedicated and very reactive.” – Legal 500 EMEA 2020.
• “Partners think outside the box when needed. They are focused on our objectives, and not on worthless negotiations or purely formal points to show they are lawyers in charge.” – Legal 500 EMEA 2020.
• “Mainly two partners: Hervé Letréguilly and Séverine de la Courtie — exceptional and fully devoted.” – Legal 500 EMEA 2020.
• Hervé Letréguilly is recognised by Chambers Global (2019) for his handling of IPOs and rights offerings. He is praised for his “good overview of the cases” and the "precision in his analysis."
• He is ranked as a leading lawyer in all leading directories, including Best Lawyers, Who's Who Legal, The Legal 500 EMEA and Chambers Global. Clients tell Chambers Global that: “He is exceedingly knowledgeable and a precious asset to the team.His technical ability is unrivalled.”
• “Lawyer of the Year 2020” for Capital Markets (France) – Best Lawyers 2020.
• “Lawyer of the Year 2012” for Capital Markets (France) – Best Lawyers 2012.
• “Lawyer of the Year” for Securities Law (France) – Best Lawyers 2018.
• Equity deal of the year – IPO Euronext – IFLR Awards 2015.

Publications

• Guide “Initial Public Offerings 2020 | France” - Global Legal Insights: Initial Public Offerings Laws and Regulations 2020, July 2020.
• COVID-19 France | The Holding of General Meetings of Public Limited Companies (Sociétés Anonymes), May 2020.
• COVID-19 France | Crisis Impact in Capital Markets and Corporate Law, March and April 2020.
• Guide “Initial Public Offerings 2019 | France” - Global Legal Insights: Initial Public Offerings Laws and Regulations 2019, July 2019.
• “IPO : du bon usage du lock up” - Option Droit et Affaires, interview, 18 November 2015.
•  Focus Droit des sociétés “Gouvernance et Dirigeance : L’art de diriger une entreprise” - Petites affiches, 14 January 2016.
•  Hervé Letréguilly is the author of numerous publications on corporate and securities laws (including Règlement général de l’AMF, textes et commentaires, Dalloz, July 2010).

Professional Affiliations

•  Hervé Letréguilly lectures at Université Panthéon-Assas Paris 2 on capital markets.