/NOT FOR DISTRIBUTION INTO OR IN THE UNITED STATES, FRANCE OR THE UNITED
THIS PRESS RELEASE IS NOT AN OFFER TO SELL SECURITIES, OR THE
SOLICITATION OF AN OFFER TO BUY SECURITIES IN THE UNITED STATES, FRANCE,
THE UNITED KINGDOM OR IN ANY OTHER JURISDICTION./
MONTREAL, Oct. 19 /CNW Telbec/ - Mecachrome International Inc. announces
that its initial public offering of 14,687,500 subordinate voting shares
(ticker symbol MCH under the Toronto Stock Exchange), which has been priced at
$14 per share on October 12, 2007, was completed today. Gross proceeds raised
in this offering amount to $205.6 million.
Of the 14,687,500 subordinate voting shares, 2,901,786 are being offered
by Mecachrome's principal shareholder Arguiro Luxembourg and 11,785,714 are
being offered by Mecachrome. The Underwriters also have the option to purchase
up to an additional 2,203,125 shares from Mecachrome. Mecachrome will not
receive any of the proceeds from the sale of the shares being sold by Arguiro.
RBC Capital Markets and Merrill Lynch Canada Inc. are serving as joint
book runners with BMO Nesbitt Burns Inc., Scotia Capital Inc., UBS Securities
Canada Inc., TD Securities Inc., GMP Securities L.P., National Bank Financial
Inc., Desjardins Securities Inc., HSBC Securities (Canada) Inc. and Orion
Securities Inc. serving as co-managers for the offering.
Mecachrome was represented by Ogilvy Renault LLP as to matters of
Canadian and US law and the Underwriters were represented by McCarthy Tétrault
LLP as to matters of Canadian law and Skadden, Arps, Slate, Meagher & Flom LLP
as to matters of US law.
Mecachrome is a leader in the design, engineering, manufacture and
assembly of complex precision-engineered components for aircraft and
automotive applications, including aerostructural and aircraft engine
components, high-end automobile engine components and motor racing engines.
Since 1937, we have established a significant presence and global reputation
in certain high-precision sectors of the aerospace, automotive and industrial
equipment industries, providing services primarily to original equipment
manufacturers. We currently operate 11 state-of-the-art facilities,
principally in France and Canada, and employ over 2,000 employees.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy subordinate voting shares of Mecachrome. The
subordinate voting shares have not been and will not be registered under the
United States Securities Act of 1933, as amended, or applicable state
securities laws, and the subordinate voting shares may not be offered or sold
in the United States absent registration or an applicable exemption from
registration. Mecachrome does not intend to proceed with the registration of
the subordinate voting shares under the United States Securities Act or to
make a public offer in the United States.
For further information:
For further information: Elina Tea, Investor Relations/Director,
Corporate Finance, (514) 673-1116, email@example.com