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White & Case Advises Detsky Mir on First Russian IPO of 2017

White & Case Advises Detsky Mir on First Russian IPO of 2017

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White & Case has advised PJSC Detsky Mir, Russia's largest children's goods retailer, as issuer, and PJSFC Sistema, as selling shareholder, on the RUB 21.1 billion (approximately USD 360 million) IPO of up to 33.55 percent of Detsky Mir’s ordinary shares on the Moscow Exchange. Credit Suisse, Goldman Sachs International, and Morgan Stanley are acting as Joint Global Coordinators and Joint Bookrunners, with Sberbank CIB and UBS Investment Bank also acting as Joint Bookrunners. The banks were represented by Linklaters.

According to White & Case, this marks the first Russian market IPO in ten years in the non-food retail segment, the first IPO in Russia this year, and the largest IPO in EMEA so far in 2017.

The White & Case team advising on the transaction was led by Partner Darina Lozovsky and Local Partner Dmitry Lapshin, and included Partner Inigo Esteve (London) and Associates Amulang Povaeva and Yulia Akulinina (both Moscow).

Linklaters did not reply to our inquiry on the matter.  

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Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys that enables thus providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

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