Slaughters and A&O check out for Ocado IPO
Slaughter and May and Allen & Overy (A&O) have taken a lead role as online grocer Ocado looks to go public. Slaughters is taking the lead for the retailer, which is offering employees and all customers who have spent more than £300 with Ocado since the beginning of the year the chance to invest, in addition to institutional investors.
June 25, 2010 at 10:09 AM
2 minute read
Slaughter and May and Allen & Overy (A&O) have taken a lead role as online grocer Ocado looks to go public.
Slaughters is taking the lead for the retailer, which is offering employees and all customers who have spent more than £300 with Ocado since the beginning of the year the chance to invest, in addition to institutional investors.
The IPO, which was announced yesterday (24 June) will will provide Ocado with net proceeds of about £200m.
A&O acted for Goldman Sachs, JP Morgan and UBS as joint sponsors, global coordinators and bookrunners. The A&O team was headed up by corporate partner Louise Wolfson.
The Slaughters team was headed up by corporate partners John Papanichola and Robert Stern.
Financing advice was provided by finance partner Matthew Tobin, while tax advice was provided by tax partner Gareth Miles.
Papachinola commented: "This deal is particularly interesting because it is an online offer of shares to eligible customers and employees. A facility of that sort has only been made available once or twice before and it's also great to work on the float of a company that I'm a customer of and which so many people are familiar with."
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