Norton Rose corporate team advises Tauron Polska Energia on major Polish IPO listing
24 June 2010
The corporate team at Norton Rose LLP, the international legal practice, has advised Tauron Polska Energia SA (‘Tauron’) on its Initial Public Offering (IPO) listing, which is expected to be one of the largest ever Polish IPOs and one of the largest IPOs internationally to have listed this year.
Tauron is the second largest power utility company in Poland, and one of the largest businesses in the country, employing over 28,000 people.
The Norton Rose LLP team acting for Tauron, was led by Piotr Strawa and Tom Vita. Weil Gotshal acted for Tauron’s underwriters.
Piotr Strawa, head of the Norton Rose LLP Warsaw Office, commented:
“The IPO of Tauron will be one of the largest ever privatisations and IPOs in the history of the Polish capital market. This is a strategically important transaction for the Polish government as it acts to address its budget deficit.”
Tom Vita, leader of the US corporate team at Norton Rose LLP, commented:
“This is a landmark listing for a Polish business and we are delighted to have advised Tauron on it in relation to Polish, UK and US law. The deal has taken place during an extremely difficult period for many companies (and their major shareholders) considering IPOs.”
Tim Marsden, Group head of corporate at Norton Rose Group, said:
“This is another very significant IPO, following quickly after having acted for Jupiter Fund Management on its successful IPO, and is further evidence that our corporate team continues to strengthen in our key sectors.”
Norton Rose LLP was the highest-listed UK-headquartered legal practice in the latest Thomson Reuters ranking of M&A advisors, for activity in the first quarter of 2010. Norton Rose LLP was ranked 6th by value, having advised on deals with any European involvement worth a total of US$ 39.3 billion.
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