Maples advises EBRD on IPO of Russian Hypermarket Chain Lenta
Maples and Calder's London office acted as British Virgin Islands ("BVI") counsel to The European Bank for Reconstruction and Development ("EBRD") in relation to the recent IPO of Russian hypermarket chain Lenta on the main market of the London Stock Exchange and the Moscow Stock Exchange. EBRD held a 21.5% stake prior to the offering, and sold a 4.8% stake. TPG Capital and VTB Capital Private Equity also hold stakes. Lenta is Russia's second largest hypermarket chain, and its IPO raised just under US$1 billion. Partner Matthew Gilbert led the London-based BVI team.