Capital Markets

+ 17 other experts

Flexible, innovative capacity to spearhead niche transactions

We partner with our clients on their complex matters, marrying our expertise with transaction management skills, out-of-the-box thinking, and an adept gambit of innovative solutions. Our high deal flow ensures that our Capital Markets team is always aware of both regulators' perspectives and of current market practice.

Our two dedicated teams:

  • Equity Capital Markets - the largest pure-play equity capital markets team in the Netherlands, and
  • Debt Capital Markets - located in both London and Amsterdam.

maintain a worldwide network of leading law firms, and regularly work with them in fixed teams, and offer our clients first-class, cross-border services.

Recent Matters

27 March 2025

Exor launches EUR 1 billion share buyback tender offer

De Brauw has acted as lead counsel to Exor on a EUR 1 billion share buyback tender offer. The tender offer will be executed via a reverse "Dutch auction", allowing qualifying shareholders to select the price at which they wish to sell their shares back to Exor within a pre-determined price range, extending in 1% increments, from a 3% discount to a 10% premium over a VWAP reference price. The tender offer is supported by Exor majority shareholder Giovanni Agnelli B.V., which has committed to participate for an amount of up to EUR 250 million at whatever price is ultimately determined to be the strike price (as a 'strike price tender'). As trusted lead legal adviser to Exor, De Brauw was involved in all strategic and legal aspects of the tender offer, the majority shareholder commitment, and the drafting of documentation including the offer memorandum.
27 February 2025

Record EUR 3 billion Ferrari ABB by Exor

De Brauw has acted as lead counsel to Exor in its EUR 3 billion sale of Ferrari N.V. common shares through an accelerated bookbuild offering, constituting the largest ABB in the Eurozone of at least the last 10 years. The transaction will reduce concentration in Exor's portfolio and allow for a sizeable new acquisition, when such an opportunity presents itself. Exor also intends to use a portion of the proceeds to launch a new EUR 1 billion share buyback program. Following completion of the transaction, Exor will remain Ferrari's single largest shareholder with c. 20% of the economic rights and c. 30% of the voting rights in Ferrari's share capital and remains fully committed as a long-term shareholder of Ferrari. In the context of the transaction, Exor has entered into a 360-day lock-up commitment, with respect to its remaining common shares of Ferrari. Ferrari participated in the ABB by purchasing c. 10% of the total offering for c. EUR 300 million.
13 February 2025

De Brauw advises HEINEKEN on its EUR 1.5 billion share buyback programme

De Brauw has advised HEINEKEN in connection with its two-year programme to repurchase own shares for an aggregate amount of EUR 1.5 billion. Heineken Holding, HEINEKEN's majority shareholder, intends to participate pro rata to its shareholding.
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Equity Capital Markets

Involved in almost all major Dutch IPOs, we advise corporates and financial institutions with unrivalled advice in

• IPOs;
• listed and unlisted share issues;
• share buy-back programmes; and
• convertible bonds and derivatives.

"De Brauw’s capital markets team are one of the best I have worked with in 25 years. They clearly go the extra mile to ensure that they not only understand the legal issues at hand but also understand the commercial side of things."

Legal 500, 2024
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Debt Capital Markets

Leading experts in:

• listed and unlisted bond issues;
• restructurings;
• EMTN programmes; and
• regulatory capital instruments products and Tier 1 transactions.