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21/09/2015
A CMS team led by partners Stephen Netherway, Chris Southorn and Helen Johnson advised international insurer CBL Insurance on its proposed initial public offering of its ordinary shares, jointly on the New Zealand and Australian Stock exchanges. The complex cross-border deal involved several individual and corporate parties. The offering has an implied market capitalisation of just under USD 400m for the company.
Over 80% of CBL’s business is in the UK and Continental Europe, and its public offering of shares involved CMS leading and coordinating on a number of cross-border issues. This included the due diligence and other listing and regulatory matters in Europe and Asia (including Singapore), across numerous time zones.
CMS UK advised on the transaction with the support of CMS offices in France (Jean-Robert Bousquet and Marc-Etienne Sebire), Italy (Paolo Bonolis) and Luxembourg (Vivian Walry and Cedric Buisine) as well as the Singapore office of Rajah & Tann.
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