Core Viewpoint - Wendel successfully completed the accelerated placement of approximately 23.3 million Bureau Veritas shares, raising around 591 million euros to prepare for the settlement of an exchangeable bond maturing in March 2026 [1][2][4]. Group 1: Transaction Details - The sale was executed through an accelerated bookbuilding process aimed at qualified and international institutional investors, with a share price set at 25.40 euros [2][3]. - The proceeds from the placement will reduce Wendel's Loan-To-Value (LTV) ratio to approximately 13%, enhancing its financial flexibility ahead of the bond's maturity [4]. Group 2: Impact on Shareholding - Following the placement, Wendel's stake in Bureau Veritas decreased from 26.5% of the share capital and 41% of voting rights to about 21.4% of the share capital and 35% of voting rights [5]. - Wendel has committed to a lock-up period of 180 calendar days for its remaining Bureau Veritas shares post-placement [5]. Group 3: Market Context - The transaction was strategically timed due to the short period until the bond's maturity, upcoming negative windows constraints, and favorable market conditions [4]. - The placement was led by BNP PARIBAS and Goldman Sachs Bank Europe SE, with Société Générale also participating as a joint bookrunner [6].

Management of the Exchangeable Bond maturing in 2026: accelerated placement of approximately 23 million Bureau Veritas shares Paris, 15 September 2025 - Wendel announces the launch of the disposal of the 23.3 million Bureau Veritas shares underlying the exchangeable bond into Bureau Veritas shares issued by Wendel in March 2023 and maturing in March 2026 (the "EB"), through an accelerated bookbuilding process reserved for qualified investors as defined by Article 2(e) of Regulation (EU) 2017/1129, as well a ...