Clifford Chance has advised Mondelez International on the IPO and listing of JDE Peet’s shares on Euronext Amsterdam.
Pricing of the IPO took place on Thursday 28 May 2020. The IPO was priced at EUR 31.50 per share which valued JDE Peet’s at approximately EUR 15.6 billion. Trading in the shares on Euronext Amsterdam commenced on Friday 29 May 2020 and settlement of the offer is expected to take place on Tuesday 2 June 2020. BNP Paribas, Goldman Sachs International and J.P. Morgan Securities plc act as joint global coordinators for the offer with a further 25 banks appointed in junior roles.
JDE Peet’s is the world’s largest pure-play coffee and tea group by revenue, with brands including Peet’s Coffee, L’OR, Jacobs Coffee, Douwe Egberts, Senseo and Pickwick. Prior to the IPO, Mondelez International owned approximately 26.5% of the shares in JDE Peet’s and after settlement, it will continue to own around 23.4% of the shares in the company (or around 22.9% in case the over-allotment option is exercised).
Clifford Chance’s cross-border team on this transaction is led by Corporate partners Robert Crothers (Picture) in London and Sarah Jones in New York and includes Corporate/Capital Markets senior counsel Han Teerink and partner Hans Beerlage in Amsterdam. The team furthermore includes Mark Jan Arends and Serkan Ozel (Notary), Marina Sarkisjan (Corporate) Floris van de Bult, IJsbrand de Jong (Employment) and Michiel Sunderman (Tax) from the Amsterdam office, Capital Markets partners Chris Roe and Simon Thomas from the London office. John Connolly and Patrick Meson (London) provided US securities laws advice.
Involved fees earner: Mark Jan Arends – Clifford Chance; Hans Beerlage – Clifford Chance; John Connolly – Clifford Chance; Robert Crothers – Clifford Chance; IJsbrand de Jong – Clifford Chance; Sarah Jones – Clifford Chance; Patrick Meson – Clifford Chance; Serkan Özel – Clifford Chance; Chris Roe – Clifford Chance; Marina Sarkisjan – Clifford Chance; Michiel Sunderman – Clifford Chance; Han Teerink – Clifford Chance; Simon Thomas – Clifford Chance; Floris van de Bult – Clifford Chance;
Law Firms: Clifford Chance;
Clients: Mondelez International;