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White & Case and Weil Advise on Dino Polska IPO

White & Case and Weil Advise on Dino Polska IPO


White & Case has advised Powszechna Kasa Oszczednosci Bank Polski S.A. Oddzial – Dom Maklerski PKO Bank Polski w Warszawie, as Global Coordinator, Joint Bookbuilder and Offeror, UBS Limited, WOOD & Company Financial Services, a.s. S.A. and Oddział w Polsce, as Global Coordinators and Joint Bookbuilders, and Erste Group Bank AG as Joint Bookbuilder, on the PLN 1.65 billion (approximately EUR 388 million) initial public offering and admission to trading of shares in Dino Polska S.A. on the regulated market of the Warsaw Stock Exchange. Weil Gotshal & Manges advised Dino Polska and the selling shareholder, Polish Sigma Group S.a r.l., controlled by Polish Enterprise Fund VI L.P., a fund managed by Enterprise Investors.

Dino Polska is a chain of around 630 local supermarkets in Poland. The April 19, 2017 IPO involved the public offering of 48,040,000 shares in the company, which corresponded to 49% of its share capital and represented all of the shares held by Polish Sigma Group. The transaction was conducted via a public offering in Poland directed to Polish retail and institutional investors, and by a global offering addressed to institutional investors in other jurisdictions outside the US in accordance with Regulation S of the United States Securities Act of 1933, as amended, as well as in the US to qualified institutional investors under Rule 144A of the Securities Act.

This marks the fifth debut on the main market of the Warsaw Stock Exchange in 2017. According to White & Case Dino Polska’s public offering "was the second largest offering of a private company in the history of the exchange and the largest IPO in Poland since December 2013."

The White & Case team advising on the transaction included Warsaw-based Partner Marcin Studniarek and London-based Partners Inigo Esteve and Doron Loewinger, with support from Warsaw-based Associates Katarzyna Grodziewicz and Klaudia Malczewska.

Weil’s Warsaw team included Partner Marcin Chylinski and Counsel Ewa Bober. Associates Anna Blonska, Filip Lesniak, and Krzysztof Jagiello were responsible for the day-to-day work on the transaction. Warsaw-based Partner Anna Frankowska was responsible for US law issues, while English law issues were handled by Partner Peter King and Associate Tomasz Rodzoch, both from the firm's London office.

Poland Knowledge Partner

Established in 1957, Wolf Theiss is one of the leading European law firms in Central, Eastern and South-Eastern Europe with a focus on international business law. With 300 lawyers in 13 offices located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, Wolf Theiss represents local and international industrial, trade and service companies, as well as banks and insurance companies. Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on the basis of legal, fiscal and business know-how.

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