CTP N.V.’s EUR 854 Million Initial Public Offering

Clifford Chance advised the syndicate of banks (Erste Group, Goldman Sachs, Morgan Stanley, Kempen & Co UBS, ING and Raiffeisen Bank) on the offering and listing on Euronext Amsterdam of shares of logistics parks owner and operator CTP N.V. White & Case and Nestor Nestor Diculescu Kingston Petersen advised CTP.

CTP N.V. operates a portfolio of 68 industrial parks and two office parks strategically located adjacent to capital or major cities and major transportation infrastructure in Central and Eastern Europe, making it the largest full-service owner-developer of prime industrial and logistics property in the CEE region and among the five largest logistics property companies in Europe based on GLA.

Based on the offer price, the implied market capitalization of CTP N.V. is EUR 5.6 billion. The total value of the offering amounts to EUR 854 million (excluding the exercise of the over-allotment option). The proceeds will be used by CTP N.V. for financing development projects and related construction activities, for potential property acquisitions and for debt repayment.

A cross-border team advised on the deal, co-led by UK ECM Partner Christopher Roe (Picture), US Securities Partner Alex Bafi and Dutch ECM Senior Counsel Han Teerink, with key contributions from senior associates Ryan Bosch in Paris and James Koessler in London. The team further consisted of Amelia Chammas and Mathias Toubiana in London, Serkan Özel and Magdalena Kucko in Amsterdam, as well as key support from Clifford Chance’s Prague office.

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.

Involved fees earner: Alex Bafi – Clifford Chance; Ryan Bosch – Clifford Chance; Magdalena Ku?ko – Clifford Chance; Serkan Özel – Clifford Chance; Christopher Roe – Clifford Chance; Han Teerink – Clifford Chance; Mathias Toubiana – Clifford Chance; Lavinia Ionita Rasmussen – Nestor Nestor Diculescu Kingston Petersen; Inigo Esteve – White & Case; Erik Illmann – White & Case; Jakub Kopacek – White & Case; Václav Kubr – White & Case; Bob Lehner – White & Case; Petr Pánek – White & Case; Laura Sizemore – White & Case; Eva Svobodová – White & Case; Alex Underwood – White & Case; Jan Vacula – White & Case;

Law Firms: Clifford Chance; Nestor Nestor Diculescu Kingston Petersen; White & Case;

Clients: CTP N.V.; Erste Group Bank AG; Goldman Sachs; ING Bank; Kempen & Co; Morgan Stanley; Raiffeisen Bank;

Author: Federica Tiefenthaler