Guillaume Hannezo, Deputy Chief Operating Officer:
"Sometimes our financial needs can be met by commodity-type services that are
driven by price. Then there are strategic decisions such as wanting to position Vivendi as
a world leader in the water industry. Goldman Sachs provided us with the two essential
factors that enabled us to accomplish this. One consisted of excellent, very timely
knowledge of the utilities industry worldwide that permitted us to identify and assess
acquisition candidates, including United States Filter Corporation. The second consisted
of a local team of quality investment bankers who do not merely sell transactions but are
oriented toward forming a close, trusting and long-term relationship with their client.
Long before we appointed Goldman Sachs as our advisor, the firm had invested considerable
time to learn about our company and strategy and the challenges we faced. The trust and
confidence that we had built enabled us to structure successfully a large, complex
international acquisition and then finance it quickly through a convertible and an equity
offering totaling $6 billion. Despite their significant size, these offerings attracted
tremendous interest and allowed us to complete our strategy in the most efficient way in
terms of both price and timing."
- Goldman Sachs advised Vivendi on the acquisition of United States Filter Corporation for
approximately $6 billion.
- The acquisition financing included a $3.1 billion convertible bond offering and a $2.9
billion equity offering.
- The convertible bond offering was the largest ever globally and provided unique exchange
features that helped to generate high investor demand.