7 September 2009
Goldman Sachs Infrastructure Partners becomes Groupe Eurotunnel's
principal shareholder
In March 2008, two Goldman Sachs Infrastructure funds (GS Global
Infrastructure Partners I, L.P. and GS International Infrastructure
Partners I, L.P., which together make up GSIP*) subscribed 657,840 of
the 800,000 Subordinated Deferred Equity Securities (SDES) issued by
Groupe Eurotunnel SA. The funds raised were used to reimburse an
initial part of the NRSII and reduce the group's financial charges.
The SDES are redeemable in Groupe Eurotunnel SA ordinary shares from
7 September 2009, at the initiative of the bearer, and for a period
of 12 months. The final redemption date is 6 September 2010.
GSIP has recently made Eurotunnel aware of its intention to demand
the redemption of its SDES in shares. Once this has been completed,
GSIP will hold approximately 21.21% of the capital of GET** and will
therefore become Groupe Eurotunnel's principal shareholder.
Jacques Gounon, Chairman and Chief Executive of Groupe Eurotunnel
said, "The long anticipated arrival of the infrastructure specialist
GSIP, is excellent news for the group. Beyond the powerful sign of
renewed confidence in the group, it will be a real asset in the
pursuit of our upcoming strategic developments."
* Through their subsidiary, Aero 1 Global and International S.�.r.l,
GSIP invests principally in transport infrastructure (roads,
airports, ports etc) and in utilities (distribution networks for
electricity, gas etc) in OECD countries.
** On the basis of a theoretical capital of 395,417,950 shares,
composed of 317,391,548 shares currently in circulation, to which are
added 78,026,402 shares which will be attributed to GSIP on
redemption of their SDES.
If the redemption in shares of the NRS I tranche 3 and the exercise
of the remaining warrants are included, the total number of GET SA
shares in issue would be 574,916,747 and GSIP's holding in the
capital of GET SA would then be 15.22%.
For media enquiries contact the press office on +44 (0) 1303 284491
Email: press@eurotunnel.com
For investor enquiries contact Michael Schuller on +44 (0) 1303
288749
Email: Michael.schuller@eurotunnel.com
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