Global law firm White & Case LLP has advised the bank syndicate comprising Deutsche Bank and Société Générale on the initial public offering of 2MX Organic on Euronext Paris.
The transaction is the second listing in France of a special purpose acquisition company (SPAC).
2MX Organic has been set up by Xavier Niel, founder and majority shareholder of the Iliad Group, one of the leading French telecom operators, Matthieu Pigasse, partner at Centerview, in charge of France and Continental Europe, and Moez-Alexandre Zouari, a French entrepreneur active in real estate and food retail distribution, especially close proximity food retail. 2MX Organic aims to acquire one or several targets, with a dedicated focus on sustainability, operating in Europe and with main operations in the consumer goods industry, within the first 24 months following the offering, valued at up to €1.5 billion.
2MX Organic's shares will be listed on the professional segment (compartiment professionnel) of the regulated market of Euronext Paris. The transaction consists of an offering reserved to qualified investors inside and outside of France of €250 million new shares, which may be increased up to €300 million if the extension clause is exercised in full.
The prospectus was approved by the French financial markets authority (Autorité des marchés financiers) on November 27, 2020 and the first listing is planned on December 9, 2020.
White & Case advised in 2016 on the listing of the first-ever listed French SPAC, Mediawan.
The White & Case team in Paris which advised on the transaction was led by partner Thomas Le Vert and included partners Max Turner and Alexandre Ippolito, counsel Jean Paszkudzki and associates Boris Kreiss, Isabelle Touré-Farah and Claire Sardet.
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