A&O advises on JDE Peet’s landmark IPO
03 Juni 2020
A&O has advised JDE Peet’s and its largest selling shareholder, JAB, on the landmark listing of JDE Peet’s on Euronext Amsterdam.
The IPO is the largest Consumer & Retail IPO in Europe since 2006, the largest IPO in Europe for over 18 months and the largest IPO globally since the Covid-19 pandemic began. It is also one of the fastest in recent history, with a marketing process of only eight days, with a roadshow conducted virtually over just three days.
JDE Peet’s is the world's largest pure-play coffee and tea group by revenue, having served 130 billion cups of coffee and tea in FY 2019 in more than 100 developed and emerging countries. The final IPO price was set at EUR31.50, resulting in a market capitalisation at IPO of c.EUR15.6 billion.
The A&O team was led by partner Adam Wells in London and partner Tim Stevens and counsel Sjoerd Bujin in Amsterdam. Tim Stevens comments:“This was a significant and exciting process to be part of and we are very pleased that our international expertise came together to advise on such a successful IPO. This transaction is evidence that the ECM ecosystem of issuers, sponsors, investors and advisers have found their footing in the new reality during the global Covid-19 crisis.”
The A&O team comprised lawyers from across practices and offices. In addition to the lead partners and counsel, members of the core team included Philip Silvis, Johnathan Leibbrandt, Joyce Leemrijse, Aziz Bouhbouh, Lisanne Bosman, Caspar Roijers, Tim Rijkse and Bas Sanders (corporate Amsterdam); Daphne van der Houwen (regulatory Amsterdam); Arnold Keizer, Sander Schouten and Naomi Reijn (employment Amsterdam), Julian Veshi (capital markets London) and Knut Sauer (corporate Frankfurt).