Zurich Insurance Group completed an accelerated bookbuild offering of 7,090,909 newly issued shares, raising gross proceeds of CHF 3.9 billion ($5 billion). The net proceeds from the capital increase will be used to partly finance Zurich’s acquisition of Beazley.
S&C acted as U.S. counsel to the underwriters, which included Goldman Sachs, Morgan Stanley, UBS, Deutsche Bank, Citibank, Crédit Agricole and Zürcher Kantonalbank.
The S&C team advising the underwriters included Krystian Czerniecki, Clemens Rechberger and Ella Scholz.