7 May 2019
Clifford Chance Amsterdam acts as transaction counsel on a EUR 750 million post-IPO placement of Adyen shares
Clifford Chance Amsterdam acted as transaction counsel on the sale by General Atlantic Everest B.V. (General Atlantic) and Pentavest S.à r.l. (Pentavest) of approximately 1.1 million shares in the capital of Euronext listed company Adyen N.V., the Netherlands-based payments platform provider. The sale was carried out through an accelerated bookbuild offering to institutional investors and settled on 7 May 2019.
The shares were priced at EUR 680, resulting in approximately EUR 750 million gross proceeds for the selling shareholders. J.P. Morgan and Morgan Stanley acted as joint global coordinators on the placement.
This is the third follow-on transaction executed following Adyen's highly published 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 furthermore consisted of Tom Smeele and Robin Traas (Corporate / ECM Amsterdam). Paris-based Alex Bafi, Olivier Plessis and Ryan Bosch advised on matters of U.S. law.