Global law firm White & Case LLP has advised the bank syndicate on Airbus Group's sale of its remaining 23.6 percent stake in Dassault Aviation.

Airbus Group announced the sale on June 9, 2016. It includes 9.05 percent by way of a private placement to qualified investors for a total amount of €784 million, and nine percent by way of an exchangeable bonds issuance for a total amount of €1 billion. The 5.5 percent remaining stake was repurchased by Dassault Aviation for a total amount of €477 million. The zero-coupon exchangeable bonds will mature in five years, with the proceeds used for general corporate purposes.

Airbus Group is a global leader in aeronautics, space and related services, with revenue of €64.5 billion in 2015. Dassault Aviation group specializes in aeronautics, with more than 8,000 military and civil aircraft delivered to more than 90 countries over the past 60 years, and revenue during 2015 of €4.2 billion.

BNP Paribas, Bank of America Merrill Lynch, Deutsche Bank, Goldman Sachs and JP Morgan acted as lead managers and bookrunners on the equity placement and the bond issue.

The White & Case team which advised on the transaction was led by partners Thomas Le Vert and Séverin Robillard with support from associates Boris Kreiss and Isabelle Touré-Farah (all Paris). Partner Laura Sizemore (London), with support from counsel Max Turner (Paris), advised on matters of US law. Partner Cenzi Gargaro (Paris) advised on matters of English law. Partner Alexandre Ippolito, with support from associate Estelle Philippi (both Paris), advised on tax aspects.