White & Case and De Brauw Blackstone Westbroek have advised CTP B.V. on its initial public offering and listing of its shares on Euronext Amsterdam. Nestor Nestor Diculescu Kingston Petersen advised CTP on Romanian legal matters. Clifford Chance's London, Paris, and Amsterdam offices advised the underwriters on the deal.
Erste Group Bank AG, Goldman Sachs Bank Europe SE, and Morgan Stanley Europe S.E. were both joint global coordinators and joint global book-runners, while Van Lanschot Kempen Wealth Management N.V. and UBS AG London Branch were joint book-runners, and ING Bank N.V. and Raiffeisen Bank International AG were joint lead managers.
White & Case describes the CTP Group as "the largest full-service owner-developer of prime industrial and logistics property in the Central & Eastern Europe region." According to the firm, “as of December 31, 2020, the group had a property portfolio of 6.342 million square meters of gross lettable area, with an occupancy rate of 94%, a gross asset value of EUR 5.9 billion for its entire property portfolio, and EUR 5.1 billion for its income-producing assets.”
According to the firm, CTP's IPO raised EUR 854.2 million in gross proceeds, which will help “accelerate its growth strategy by, among other measures, financing its development projects and construction activities, selective property acquisitions and debt repayment.”
Earlier this year, White & Case advised CTP B.V. on a drawdown of EUR 500 million 0.750% green bonds due 2027 (as reported by CEE Legal Matters on March 1, 2021).
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.
Editor's note: After this article was published, CEE Legal Matters learned that Karanovic & Partners had advised on Serbian aspects of CTP's IPO. The firm's team included Partner Milos Jakovljevic and Senior Associates Ana Lukovic and Sava Draca.
Subsequently, CEE Legal Matters learned that the Romanian office of Clifford Chance had participated on the firm's multi-jurisdictional team on what it described as "the largest IPO the European real estate industry has seen in almost seven years." The firm's team in Bucharest was coordinated by Partner Madalina Rachieru-Postolache.