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Clifford Chance has bagged a lead role on the UK IPO of a Dutch aluminium giant due to its presence in Romania.
The firm advised Morgan Stanley and CA IB Corporate Finance as the arrangers for Vimetco's listing on the London Stock Exchange. Clifford Chance utilised teams based in Amsterdam, Bucharest, London and Shanghai.
Clifford Chance capital markets partner John Connolly, who led the multijurisdictional team, said: "Our association with Badea Asociatii made us a good choice to advise on this deal. Our presence in Romania means that we have the extensive local knowledge required for this type of transaction."
Connolly explained that the flotation, which raised $515m (£254.03m), was challenging due to the increased Chinese element in the Dutch business.
"At first the Chinese element of the business wasn’t factored in to the documentation. We then had to amend the transaction and complete a number of pro forma to incorporate the Chinese interests in Vimetco," he explained.
Last month (27 June) The Lawyer reported on the transfer of Clifford Chance capital markets partner David Eatough to the Romanian office to work alongside managing partner of Badea Asociatii Daniel Badea.
Connolly commented: "We’re very much focused on emerging markets and our Romanian presence is very important to the firm."
Skadden Arps Slate Meagher & Flom advised Vimetco on UK and US law.