Press Release
| December 30, 2011
Dewey & LeBoeuf Advises ING Bank on Bank of Georgia's Proposed Admission to the Premium Listing Segment and to Trading on the LSE
(LONDON, December 30, 2011) – Dewey & LeBoeuf has advised ING Bank N.V. as sponsor and financial adviser in connection with the recommended tender offer by Bank of Georgia Holdings Plc (“BoG Holdings”) to acquire the entire issued share capital of JSC Bank of Georgia, including shares represented by global depositary receipts, and the proposed admission of BoG Holdings’ shares to the premium listing segment of the UK Listing Authority's Official List and to trading on the London Stock Exchange.
BoG Holdings is a newly formed public limited liability company incorporated in England & Wales, which, following the completion of the tender offer, will be the holding company for the Bank of Georgia group of companies.
Bank of Georgia is one of Georgia's leading banking institutions and the first Georgian company to seek a premium share listing in London. The transaction is expected to close in February 2012, conditional on certain events.
The Dewey & LeBoeuf team advising ING was lead by partner Louise Roman Bernstein and partner Prakash (PK) Paran, assisted by associates Kirsten Rodger and Ashmi Bhagani.
Ms Roman Bernstein commented: "It has been extremely rewarding to be involved in this market leading transaction out of Georgia, which, as the first of its kind, presented a variety of challenging issues for the lawyers. Bank of Georgia is well-positioned to take this step. Equally, with our newly-established presence in Georgia, Dewey & LeBoeuf has been able to provide a unique contribution to the transaction, blending our well-developed UK listing practice with our fresh knowledge of Georgian local issues. Overall, we are very pleased to play a role in assisting the financial advisory team in this key stage of the Bank’s international development."
Dewey & LeBoeuf is developing a wide-ranging practice in Georgia across both the public and private sectors, including in particular in the banking sector.
This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent.
For further information on Dewey & LeBoeuf, please visit www.dl.com. +1 888 532 6383