Sullivan, King & Spalding and Freshfields advise on €1bn Delivery Hero IPO
Trio of firms advise on German food delivery start-up's Frankfurt Stock Exchange listing
June 19, 2017 at 11:05 AM
2 minute read
Sullivan & Cromwell, Freshfields Bruckhaus Deringer and King & Spalding are advising on online food delivery service Delivery Hero's initial public offering (IPO) on the Frankfurt Stock Exchange.
Delivery Hero, an online startup similar to takeaway apps Deliveroo and Just Eat, is aiming to raise as much as €1bn (£875m) from the IPO, valuing it at around €4.4bn (£3.9bn).
Sullivan is lead counsel for Delivery Hero, which is based in Berlin but has operations in 53 countries around the world. The US firm is advising on both German and US law with capital markets partners Carsten Berrar and Krystian Czerniecki leading the firm's team.
Freshfields is advising the underwriters on the IPO with a team including Frankfurt corporate finance partner Christoph Gleske.
King & Spalding is also advising Delivery Hero on US law aspects of the listing. The US firm, which has an established relationship with the company, is fielding a team including London capital markets partner Markus Bauman and London tax partner John Taylor.
The news comes after King & Spalding advised on UK logistics company Eddie Stobart's recent IPO on London's Alternative Investment Market. King & Spalding advised Eddie Stobart, with Hogan Lovells advising the underwriters.
Other recent IPOs include UK investment trust BioPharma Credit's $762m (£613m) London Stock Exchange listing, which saw Herbert Smith Freehills advise BioPharma Credit while Norton Rose Fulbright acted for the joint bookrunners.
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