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Squire Sanders Advises on Lenta IPO Share Sale

bloomberg.com

Russia
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Squire Sanders has advised one of the shareholders of Lenta on the sale of its shares, as part of Lenta’s USD 4.3 billion IPO and GDR listing on the Main Market of the London Stock Exchange and the Moscow Exchange (including a USD 952 million secondary offering).

Lenta is the second largest hypermarket chain in Russia, with 77 stores across the country. “The IPO reflects increasing investment interest in the Russian retail and consumer sectors”, commented Squire Sanders Partner David Wack, “and we expect to see more of such activity as the trend continues.”

The team was led by Wack and Capital Markets Partner Giles Distin.