The Firm is advising Baltic Classifieds Group PLC (“Baltic Classifieds Group”), a portfolio company of funds advised by Apax Partners LLP, in its initial public offering and admission to the Official List in the U.K. and to trading on the London Stock Exchange, expected to occur on July 5, 2021. The offer size (comprising a primary and secondary offering) is £330 million, before exercise of the over-allotment option. The indicative market capitalization of the company based on the offer price is £825 million. The Firm advised Apax Partners on the original investment in 2019 and on the group’s subsequent acquisition of Auto24 in Estonia.
Baltic Classifieds Group is the leading online classifieds group in the Baltics (based on the number of visits and listings) which owns and operates 12 leading vertical and generalist online classifieds portals in Estonia, Latvia and Lithuania.
The Simpson Thacher team for the transaction includes Derek Baird, Nick Shaw, Deborah Harris, Lucy Gillett, Pieter Lavens, Alan Davies, Tara Gibbons, Eilidh Reid and Julie De Keukeleire (U.K. and U.S. Corporate); Kate Sinclair and Li Lin (U.K. Credit); and Yash Rupal, Kelli Rivers, Caleb McConnell and Ellie Verran (U.K. and U.S. Tax).