Thursday, November 30, 2023

Uría steers eDreams´€75m capital increase

Uría Menéndez has advised eDreams ODIGEO, S.A. on the issue of the new ordinary shares to be issued and sold in a capital increase for an effective total amount of c. €75 million


eDreams ODIGEO, Europe’s largest online travel company, the second largest in terms of flights globally and one of the largest European e-commerce businesses, has announced the successful conclusion of its share capital increase, raising c. €75 million.

The issue price (nominal value and share premium) of the new shares is set at €8.50 per share. The gross proceeds to be raised through capital increase will be €74,999,996.50.

The capital increase will be carried out for a nominal amount of €882,352.90 through the issue of 8,823,529 newly-issued ordinary shares in the company, admitted to trading on the Barcelona, Bilbao, Madrid and Valencia Stock Exchanges, through the system provided by SIBE (Sistema de Interconexión del Mercado de Valores Español), with a nominal value of €0.10 each, belonging to the same class and series as the existing shares currently outstanding.

The new shares represent approximately 7.43% of the company’s share capital prior to the capital increase and approximately 6.91% of the share capital following the capital increase.

Banco Santander, S.A., Barclays Bank Ireland PLC and Deutsche Bank AG are acting as Joint Global Coordinators, Banco Bilbao Vizcaya Argentaria, S.A. (collaborating with ODDO BHF) and Société Générale are acting as Joint Bookrunners, and CaixaBank, S.A. is acting as Co-Lead Manager (together with the Joint Global Coordinators and the Joint Bookrunners) in connection with the offering.

The company has agreed not to issue or sell shares of the company (lock-up), subject to customary exceptions, during a period of 90 days from the date of settlement of the offering.

Uría Menéndez advised eDreams with a Madrid office team led by Capital Markets partner Alfonso Ventoso del Rincón, together with Capital Markets senior associate Beatriz Camilleri Lacambra, Capital Markets associate Susana Serrano de Frutos, Tax senior associate Sara Asensio Giménez and Tax associate Diego Andradas Dago.

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