Watches of SwitzerlandElite Trio Advise As Watches Of Switzerland Sets Timer For IPO
The British luxury watch company expects to raise around £660 million via the float.
May 22, 2019 at 04:33 AM
2 minute read
Magic Circle duo Slaughter and May and Freshfields Bruckhaus Deringer and U.S. heavyweight Paul Weiss Rifkind Wharton & Garrison are advising as luxury watch seller Watches of Switzerland prepares to float on the London Stock Exchange.
The British watch company, founded in 1924, sells high-end watches made by Swiss watchmakers including Rolex, Patek Phillippe, Audemars Piguet and Cartier, across 125 stores in the U.K. and 21 stores in the U.S, according to the company's pre-listing registration document.
It expects the listing to achieve a market capitaliation of between £610 million and £660 million.
Slaughters is advising the company on English law matters, according to the registration document. The firm's team is led by corporate finance partner Richard Smith and private equity partner Susannah Macknay.
Paul Weiss has deployed London-based finance partners David Lakhdhir and David Carmona, who are advising the company on U.S. law aspects.
Meanwhile, Freshfields is advising underwriting banks Barclays, BNP Paribas, Goldman Sachs and Investec, with a team led by capital markets partners David Ludwick and Mark Austin.
Slaughters and Paul Weiss acted opposite each other earlier this year. The Magic Circle firm advised European plastic packaging company RPC on its sale to Paul Weiss's longstanding client private equity firm Apollo for £3.3 billion.
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