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White & Case, De Brauw Blackstone Westbroek, and NNDKP Advise on CTP's IPO

White & Case, De Brauw Blackstone Westbroek,and NNDKP Advise on CTP's IPO

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White & Case and De Brauw Blackstone Westbroek have advised CTP B.V. on its initial public offering and listing of its shares on Euronext Amsterdam. Nestor Nestor Diculescu Kingston Petersen advised CTP on Romanian legal matters. Clifford Chance's London, Paris, and Amsterdam offices advised the underwriters on the deal. 

Erste Group Bank AG, Goldman Sachs Bank Europe SE, and Morgan Stanley Europe S.E. were both joint global coordinators and joint global book-runners, while Van Lanschot Kempen Wealth Management N.V. and UBS AG London Branch were joint book-runners, and ING Bank N.V. and Raiffeisen Bank International AG were joint lead managers. 

White & Case describes the CTP Group as "the largest full-service owner-developer of prime industrial and logistics property in the Central & Eastern Europe region." According to the firm, “as of December 31, 2020, the group had a property portfolio of 6.342 million square meters of gross lettable area, with an occupancy rate of 94%, a gross asset value of EUR 5.9 billion for its entire property portfolio, and EUR 5.1 billion for its income-producing assets.”

According to the firm, CTP's IPO raised EUR 854.2 million in gross proceeds, which will help “accelerate its growth strategy by, among other measures, financing its development projects and construction activities, selective property acquisitions and debt repayment.”

Earlier this year, White & Case advised CTP B.V. on a drawdown of EUR 500 million 0.750% green bonds due 2027 (as reported by CEE Legal Matters on March 1, 2021). 

White & Case’s team was co-led by London-based Partner Laura Sizemore and Prague-based Local Partner Eva Svobodova and included, in Prague, Partners Petr Panek and Vaclav Kubr and Associates Erik Illmann, Jan Vacula, and Jakub Kopacek, and in London, Partner Inigo Esteve and Associates Bob Lehner and Alex Underwood.

NNDKP's team was led by Partner Lavinia Ionita.

Editor's note: After this article was published, CEE Legal Matters learned that Karanovic & Partners had advised on Serbian aspects of CTP's IPO. The firm's team included Partner Milos Jakovljevic and Senior Associates Ana Lukovic and Sava Draca.

Subsequently, CEE Legal Matters learned that the Romanian office of Clifford Chance had participated on the firm's multi-jurisdictional team on what it described as "the largest IPO the European real estate industry has seen in almost seven years." The firm's team in Bucharest was coordinated by Partner Madalina Rachieru-Postolache.

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HAVEL & PARTNERS, attorneys-at-law, with offices in Prague, Brno, Bratislava, Pilsen, Olomouc, and Ostrava, has a team of 220 lawyers, tax advisors and 500 employees in total, is the largest independent law firm in Central Europe.

Our clients include large international companies, leading Czech and Slovak firms, including strategic state-owned companies and public sector authorities, as well as medium-size businesses, individual entrepreneurs, and investors. We advise approximately 100 of the Fortune 500 companies, and almost 50 of the Czech Top 100 companies. HAVEL & PARTNERS currently provides its services to a total of 2,000 clients. We have the most comprehensive international support available to both Czech and Slovak law firms. We provide legal and tax advice in 12 world languages in more than 90 countries around the globe. Up to 70 % of the transactions we deal with involve an international aspect.

HAVEL & PARTNERS was named the best law firm operating in the Czech Republic by the prestigious British rating agencies Chambers and Partners (2020) and Who’s Who Legal (2018, 2019). It is also the most successful law firm, providing the most comprehensive legal services in the Czech Republic and Slovakia, based on the total number of all nominations and awards in all years of the Law Firm of the Year awards. The firm became the absolute winner of this competition four times in the last six years, receiving the main award Domestic Law Firm of the Year in the Czech Republic (2015, 2017, 2018, 2020) and ranking as one of the most recommended law firms in all categories of law. Our company is also a three-time winner of the Law Firm of the Year award for Best Client Services (2015, 2016, 2019). In the field of M&A, HAVEL & PARTNERS is the best law firm in the Czech Republic based on the annual International Advisory Experts awards (2018, 2019). In Slovakia, it also won the prestigious global M&A Today Awards (2013–2018) for Mergers & Acquisitions six times in a row, and repeatedly won first place in the ranking by Lawyer International Legal 100 (2017, 2018). Prestigious international rating agencies EMIS DealWatch and Mergermarket have ranked HAVEL & PARTNERS among the leading law firms by the number of transactions completed in the entire CEE region since 2009. Based on annual awards of the Acquisition International magazine, HAVEL & PARTNERS has become the Law Firm of the Year 2019 in the M&A category in the CEE region.

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