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News from Members RTPR Allen & Overy has advised Purcari Wineries Public Company Limited on its IPO and admission to trading on the Bucharest Stock Exchange

RTPR Allen & Overy has advised Purcari Wineries Public Company Limited on its IPO and admission to trading on the Bucharest Stock Exchange

by RTPR Allen & Overy February 16, 2018

The RTPR Allen & Overy capital markets team was led by Loredana Chitu (Boeru) (Counsel) and Mihai Ristici (Partner), further comprising capital markets specialists Vlad Druta and Marina Giurgica and a team of corporate lawyers consisting of Victor Rusu, Cezara Popescu, Diana Dimitriu and Roxana Ionescu.

Vasile Tofan, Partner of Horizon Capital, stated: “We could not have wished for better legal advisers than RTPR Allen & Overy in preparing this truly historical IPO. A first one for a Moldovan company, navigating the intricacies of five different jurisdictions, a first ever delegation of authority by a foreign regulator to ASF - Loredana, Mihai and the team have done it all, under an excruciating timeline, always with a can-do attitude. We look forward to continuing working with them as we focus on maintaining the highest standards of corporate governance for Purcari and will rely on their always timely, always highly professional legal advice as we grow the business.”

Loredana Chitu (Boeru) commented: “In the context of this year’s celebration of the Great Union’s Centenary, this is exactly the cross-border type of IPO that we wanted to see and work on: the listing on the Bucharest Stock Exchange of a Cypriot issuer, owning assets in Romania and in the Republic of Moldova. The highly professional teams of the selling shareholders and the issuer, along with reputable intermediaries, were key to this success, while we, at RTPR Allen & Overy, consider it a privilege to have had the opportunity of helping on the successful closing of this transaction.”

Mihai Ristici also commented: “With the recent IPOs and listings of Med Life, Digi, Sphera and now Purcari, the Romanian IPO market has gained momentum and we, at RTPR Allen & Overy, are at the forefront of these developments. After having advised on the IPOs and listings of Electrica (2014), Med Life (2016) and Sphera (2017), RTPR Allen & Overy continues to consolidate the tier 1 law firm position in this area with yet another landmark transaction.”

International legal guides Legal 500 and IFLR1000 position our capital markets practice on the top tier in the rankings for Romania, recognising our lawyers as market leaders in capital markets transactions.

At international level, Allen & Overy’s global capital markets practice maintained its position in the recently published capital markets league tables for 2017 as the top legal adviser by number of deals in global debt, equity and equity-related capital markets transactions for the fifth year running, according to Thomson Reuters.

RTPR Allen & Overy’s main areas of activity are: financing, mergers and acquisitions, capital markets, insolvency and restructuring, competition, labour law, intellectual property law, litigation and arbitration, and providing advice across a range of business sectors including energy, telecommunications, finance, real estate and the pharmaceutical industry.

Selected capital markets transactions in which RTPR Allen & Overy have been involved are set out below:
• Wood & Company Financial Services and Raiffeisen Bank as joint bookrunners on the IPO of Sphera Franchise Group.
• Raiffeisen Bank S.A. and Wood & Company Financial Services a.s., as managers on the intermediation of Med Life’s IPO.
• Electrica in relation to its IPO on the Bucharest Stock Exchange and on the London Stock Exchange - first primary offering of shares in Romania involving global depositary receipts.
• Deutsche Bank, Raiffeisen Bank International and J.P. Morgan, as Joint Lead Managers and Deutsche Trustee Company Limited, as Trustee, on the issuance by NEPI of EUR 400 million high yield bonds.
• J.P. Morgan in relation to the issuance by Cable Communications Systems of EUR 450 million senior secured notes guaranteed by RCS & RDS.
• Schaeffler on the issue of high-yield bonds with a total volume of approximately EUR 1 billion and USD 600 million.
• BRD - Groupe Société Générale, acting as intermediary, in relation to the offering by Garanti Bank of unsecured bonds due in 2019 with a value of EUR 68 million.

Note to the editors:
1. Allen & Overy is an international legal practice with approximately 5,200 staff, including some 530 partners, working in 44 major cities worldwide.
2. RTPR was incorporated in 2004 and has been working in association with Allen & Overy since 2008. RTPR Allen & Overy has a team of 45 lawyers, including 5 partners: Costin Tărăcilă, Victor Pădurari, Alexandru Retevoescu, Mihai Ristici, Valentin Berea and also Prof Dr Lucian Mihai, Of counsel.
3. In this press release, “Allen & Overy” means Allen & Overy LLP and/or its affiliated undertakings.
4. In this press release, “RTPR Allen & Overy” means Radu Tărăcilă Pădurari Retevoescu SCA in association with Allen & Overy LLP.
5. Allen & Overy has been operating in the CEE region since 1991, when its first office opened in Warsaw. Since then, it has expanded its operations to include Prague, Budapest, Bucharest, Bratislava and Moscow, all of which are renowned in the market for top quality legal advice combined with local commercial understanding, as well as for their integrity and their pro-active approach to matters. Additionally, Allen & Overy signed an exclusive association with the leading full-service Romanian law firm Radu Tărăcilă Pădurari Retevoescu SCA (RTPR), effective from July 2008, expanding the number of CEE offices in which we are able to provide local law advice to six.

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