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Clifford Chance Amsterdam acts as transaction counsel on the EUR 1.65 billion post-IPO placement of Adyen shares

17 September 2018

Clifford Chance Amsterdam acts as transaction counsel on the EUR 1.65 billion post-IPO placement of Adyen shares

Clifford Chance Amsterdam acted as transaction counsel on the sale by certain shareholders of approximately 2.46 million shares in the capital of Euronext listed company Adyen, the Netherlands-based payments platform provider. The sale was carried out through an accelerated bookbuild offering to institutional investors and settled on Monday 17 September 2018.

The shares were priced at EUR 670, resulting in approximately EUR 1.65 billion gross proceeds for the selling shareholders and valuating Adyen at around EUR 20 billion. J.P. Morgan and Morgan Stanley acted as joint global coordinators and joint bookrunners on the placement.

The participating shareholders did not include any of Adyen’s management board members or entities controlled or owned by them, or any of Adyen's employees. This is the first follow-on transaction executed following the highly published EUR 947 million IPO in June 2018, where Clifford Chance acted as issuer's counsel to Adyen. The Clifford Chance team for the placement was led by Han Teerink and Hans Beerlage and furthermore consisted of Evert van der Kaa, Femke Buijs, Carlijn Tenge and Noor Corsten (all Corporate Amsterdam) with Mark-Jan Arends and Tjerk de Jonge providing notarial advice. Paris-based Alex Bafi, Olivier Plessis and Ryan Bosch advised on matters of U.S. law.