Clifford Chance

Clifford Chance advises Refresco Group’s three largest shareholders in second post-IPO sell-down

Clifford Chance Amsterdam has advised the Euronext listed company Refresco Group’s three largest shareholders, Ferskur Holding 1 B.V. (an Icelandic consortium consisting of Stodir Hf, Kaupthing ehf and EAB ehf), Tamoa Limited (a wholly owned subsidiary of Hanover Acceptances Limited) and 3i (through 3i GC Holdings Ref 1 S.à.r.l. and 3i GC Holdings Ref 2 S.à.r.l.) in an accelerated bookbuilding process selling 8 million shares in the capital of Refresco Group N.V., the leading European bottler of soft drinks and fruit juices for retailers and A-brand owners. Following the transaction the free float increased from approximately 62% to 72%. The shares were priced at EUR 13.80, resulting in EUR 110.4 million gross proceeds for the selling shareholders. The transaction was completed on 10 October 2016.

The Clifford Chance team was led by Han Teerink and furthermore consisted of Tim Heerschop and Katja Busuladžić. Barbora Moring from Clifford Chance Frankfurt advised on matters of U.S. law.