Slaughter and May advised SEGRO plc on a placing of approximately 9% of its existing shares

Slaughter and May advised SEGRO plc on a placing of approximately 9.0% of its existing ordinary share capital to raise gross proceeds of approximately £907 million. The placing, which was announced on 27 February, was conducted in part through an accelerated book-building process for institutional investors, with Morgan Stanley and Co. International Plc and UBS AG London Branch acting as Joint Bookrunners, Joint Sponsors and Corporate Brokers. Barclays Bank PLC and BNP Paribas acted as Co-Bookrunners. In light of strong demand from investors, the size of the institutional placing was increased from approximately £800 million to £900 million. Alongside this accelerated bookbuilding process, SEGRO made a separate offer to retail investors in the United Kingdom only to participate in the placing via the PrimaryBid platform. The newly admitted shares will be listed on both the London Stock Exchange and Euronext Paris. The proceeds of the placing will be used to fund profitable growth opportunities, including development projects and acquisition opportunities, whilst maintaining a strong balance sheet.

Slaughter and May is working as an integrated team with Cravath Swaine and Moore LLP, who advised on matters of US law, and Bredin Prat, who advised on matters of French law, and supported SEGRO’s in-house team headed by Stephanie Murton (Head of Legal and Company Secretary).

David Johnson Partner
Sally Wokes Partner
Celia Dale Associate

Charlotte Lazarowicz / Trainee

Mike Lane Partner
Victoria Hine Associate