Goldman gets stuck with Bureau Veritas stock

摘要

Investment firm Wendel, the largest shareholder in bureau Veritas, sold a 4.73% slug of the French certification agency on Monday evening, though not all of it was placed in the market, leaving Goldman Sachs with undistributed stock. There was no covered message from Goldman Sachs during the €400m accelerated bookbuild, which the bank was running on a sole bookrunner basis following an auction. According to a banker involved, the auction was run by the seller and its lawyers, but following a €1.2bn ABB in Safran in early October that left three banks with undistributed stock, risk appetite was relatively light from rivals.