White & Case has advised Kenbourne Invest II and Tollerton Investments Limited on the PLN 700 million sale of shares in Play Communications. BofA Securities and Santander Bank Polska S.A. - Santander Biuro Maklerskie acted as joint global coordinators and joint bookrunners.
According to White & Case, “the sale was carried out on May 20, 2020, via an accelerated book-building process. Kenbourne and Tollerton, which respectively held 25.42% and 24.66% of Play’s shares, sold 25,000,000 ordinary shares which, due to strong market demand, was an increase in the originally planned sale of 18,000,000 shares. The offer was directed exclusively to qualified institutional investors in the USA and Europe.”
White & Case’s team in Warsaw was led by Local Partner Rafal Kaminski and included Partner Marcin Studniarek and Associate Monika Duzynska.