Ashurst advises BNP Paribas and Banco Santander on €875,000,000 debt financing to SigmaRoc plc
24 November 2023
Global law firm Ashurst has advised Banco Santander and BNP Paribas in relation to providing new facilities to SigmaRoc plc to part fund their acquisition of CRH plc's European limestone quarry businesses in Germany, Poland, Czechia, England and Ireland.
The debt is provided pursuant to a senior term and revolving facility (€750m) and a senior bridge facility (€125m). Banco Santander and BNPP are the bookrunners, mandated lead arrangers and underwriters. The total consideration for the acquisition is €1bn. SigmaRoc will part-fund the deal via a share placing. The first of the three-part deal is expected to be completed early next year.
The Ashurst team was led by global loans partner Tim Rennie. He was supported by a core cross border team of Sarah Curry, Andrew Thomson, Sandile Sibiya, Audrey Lynch, Jamie O'Neill, Anne Grewlich, Arnaud Wtterwulghe, Maxime Nuyts, Bram Delmotte, Ariana Fazlic and Marie-Theres Recifo. Partners Dallan Pitman, James Fletcher and Florian Drinhausen assisted with corporate advice, supported by Louise Johnston, Quynh Anh Le, Jack Mason-Jebb, Florence Fry and Michael Utama. Partner Tim Gummer advised on tax with support from Luis De Freitas and Simon Clarke assisted with restructuring aspects.
