Travers Smith LLP has advised Numis Securities Limited in its capacity as sponsor in connection with the combination of AVEVA Group Plc with the Schneider Electric industrial software business to create a global leader in engineering and industrial software.
The transaction is classified as a reverse takeover of AVEVA under the Listing Rules of the UKLA and will require a whitewash under the Takeover Code. Based on the current AVEVA share price, the AVEVA shares to be issued to Schneider Electric as part of the transaction have a current market value of approximately £1.7 billion.
The Travers Smith team was led by Corporate Finance Partner Jon Reddington, and included Senior Corporate Finance Associate Jamie Lumsden and Corporate Finance Associates Ceilidh Thomson and Isabel Dwan.
AVEVA was advised by Ashurst LLP and Schneider by Linklaters LLP.