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Conyers Dill & Pearman has advised the underwriters, Credit Suisse, Deutsche Bank, J.P. Morgan, VTB Capital, UBS and TBG Capital, on the initial public offering of Lenta, the Russian hypermarket chain. Global depositary receipts of Lenta began trading on the main market of the London Stock Exchange and the Moscow Stock Exchange on 5 March 2014.
The listing results in Lenta becoming the most valuable publicly-listed BVI company, with a market capitalisation of approximately US$4.3 billion. The selling shareholders in Lenta’s initial public offering raised approximately US$1 billion.
The Conyers team, which worked alongside Skadden, Arps, Slate, Meagher & Flom LLP on the transaction, was made up of Anton Goldstein and Patrick Ormond.
In 2013, a Conyers team including Anton Goldstein and Patrick Ormond also advised on the historic $55 billion sale of TNK-BP to Rosneft, believed to be the largest BVI transaction of all time.