How the sale of a controlling stake of LC Corp SA was conducted?

Agreement on placing and offering the LC Corp shares at the end of the bookbuilding process.

Sale of development company LC Corp SA

20.09.2017

We advised the main LC Corp shareholders on the sale of a controlling stake. LC Corp is a development company involved in commercial and housing investments in six of the largest cities in Poland. The company is best known for its investment in the Sky Tower office block (the tallest building in Poland), the Arkady Wrocławskie shopping centre and the Wola Center office block in Warsaw.

The sale was carried out in an accelerated bookbuilding process. The value of the shareholding sold by the main shareholders: Leszek Czarnecki and the companies LC Corp BV, Getin Noble Bank, Open Finance and Open Life TU Życie, of over 229 million shares (51.17% of share capital) was ca. PLN 481 million.

The selling shareholders concluded an agreement on placing and offering the LC Corp shares at the end of the bookbuilding process with Mercurius Brokerage House (Global Coordinator), mBank and Trigon Brokerage House (Joint Book Runners) and the financial advisers, mCorporate Finance and Trigon Investment Banking.

The clients were advised by DZP lawyers Andrzej FoltynMagdalena Skowrońska, Piotr Jackowski and Tomasz Kalicki from the Capital Markets & Financial Institutions Practice.