Latham & Watkins Advises Bank Syndicate on IPO of Majorel

Latham & Watkins advised the syndicate of banks on the IPO of Majorel Group Luxembourg S.A. (Majorel) on the Euronext in Amsterdam. In the IPO, 20 million shares from the holdings of Majorel’s existing shareholders were placed at €33 per share. The gross proceeds of the offering amount to €660 million.

Luxembourg-based Majorel is a 50-50 joint venture between German media group Bertelsmann and its Moroccan partner Saham Group. Majorel is a leading global provider of call centers and employs more than 63,000 staff in 31 countries across five continents.

BNP Paribas, Citigroup, and J.P. Morgan acted as Joint Global Coordinators and Joint Bookrunners, with Bank of America, Goldman Sachs, and UBS Investment Bank also acting as Joint Bookrunners.

The Latham team was co-led by Frankfurt partners Oliver Seiler and David Rath, with London partner Ryan Benedict, Frankfurt associates Camilla Kehler-Weiß and Isabel Willius, and Milan capital markets lawyer Irene Pistotnik.