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Nabarro and alliance partner help Williams F1 win flotation race

10 March 2011

Williams F1, one of the most successful motor racing teams in Formula One history, last week became the first Formula One team to have its shares publicly traded on a stock exchange. Williams F1 was founded in 1977 by Sir Frank Williams CBE and Patrick Head. It has always remained an independent constructor in Formula One.

Williams Grand Prix Holdings PLC ("Williams"), the holding company of Williams F1, completed its IPO on the entry standard segment of the Frankfurt Stock Exchange. Existing shareholders sold approximately 24 per cent of Williams at a price of €25 per share, valuing the company at €250 million.

As Williams was incorporated in England, the prospectus was governed by the UK Prospectus Rules and approved by the UK Listing Authority, and then passported to the relevant EU states.

Nabarro LLP advised new client, Bank am Bellevue AG, a Swiss investment bank, who acted as sole global coordinator and sole global bookrunner.

Williams was advised by Nabarro's alliance partner, GSK Stockmann + Kollegen and Manches LLP.

The Nabarro team was led by head of corporate, Iain Newman with assistance from corporate associate, Jack Shepherd.

Iain Newman, head of corporate at Nabarro, commented: "It was a pleasure to work with new client, Bank am Bellevue AG, on what is sure to be one of the most glamorous IPOs in 2011. This transaction also demonstrates the strength of our European alliance network".

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