K&L Gates has advised a consortium of banks consisting of Mercurius Dom Maklerski (as global co-ordinator), mBank and Trigon Dom Maklerski (as joint-bookrunners), and mCorporate Finance and Trigon Investment Banking (as financial advisors) in connection with the sale of 51.17% of the shares of LC Corp in an accelerated bookbuilding process by shareholders Leszek Czarnecki, LC Corp BV, Getin Noble Bank, Open Finance, and Open Life. DZP reportedly advised the selling shareholders on the sale, which is valued at approximately 500 million zlotys.
LC Corp, which was previously controlled by Leszek Czarnecki, is a holding company consisting of a group of companies operating in residential and commercial real estate. It carries out projects in Warsaw, Wroclaw, Krakow. Katowice, Gdansk, and Lodz.
The K&L Gates team was headed by Partner Michal Pawlowski, supported by Partner Andrzej Mikosz and Counsels Rafal Wozniak and Jakub Pitera.
“This transaction was unique," said Michal Pawłowski, "not only because of its value of nearly half a billion (one of the largest ABBs in the history of the Polish capital market), but also because of the sale of the controlling shareholding by a group of shareholders affiliated with its founder - Dr. Leszek Czarnecki."
Editor's Note: After this article was published DZP confirmed that it had advised LC Corp's major shareholders on the sale of the controlling stake. The firm's team included Partners Andrzej Foltyn and Magdalena Skowronska and Senior Associate Tomasz Kalicki.