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Greenberg Traurig Represented Grupa LOTOS S.A. in a PLN 1 Billion Rights Issue

WARSAW – Dec. 12, 2014 – Greenberg Traurig was legal counsel to Grupa LOTOS S.A. in a rights issue of 55 million new shares with a total value of PLN 995.5 million placed with the company’s existing shareholders.

The public offering was a success and shareholders subscribed for more than 109 million shares. In terms of value, it was the biggest public offering of new shares in Poland in 2014 and one of the largest public offerings in Poland this year altogether. The State Treasury, the company’s majority shareholder, participated in the rights issue and retains its share in the total number of votes in the company.

Greenberg Traurig provided comprehensive legal advice to Grupa LOTOS with respect to Polish, English, and U.S. laws. As part of its services, it drafted the documents for the public offering, including the prospectus and the international offering circular, supported the company in securing the approval of the prospectus from the Polish Financial Supervision Authority, and provided corporate advice in relation to the preparation and conducting of the rights issue. Greenberg Traurig’s lawyers also advised Grupa LOTOS in relation to a non-public aid support agreement concluded with the Minister of State Treasury, which formed the basis for the State Treasury’s participation in the rights issue.

The transaction was led by Jarosław Grzesiak, managing partner of the Warsaw office, and Ireneusz Matusielański, partner in the Warsaw office, with support from Federico Salinas, Warsaw partner with respect to U.S. law, and James Mountain, London partner with respect to English law. The legal team included Paweł Piotrowski (Local Partner), Karolina Dunin-Wilczyńska and Mateusz Chmielewski (Senior Associates), as well as Marek Kłeczek, Marta Drywa, Dawid Kędzierski, Piotr Płatnerz, Agata Wiśniewska, and Andrzej Zając (Associates).

“We are truly satisfied with our client’s success and pleased that Grupa LOTOS has obtained funds to continue its ambitious development plans. Our satisfaction is even greater as this was the first transaction of such value and magnitude supported with funds from the Enterprise Restructuring Fund which allowed the State Treasury to subscribe for the new shares and support the development plans of Grupa LOTOS,” said Jarosław Grzesiak, managing partner of the Greenberg Traurig Warsaw office.

Grupa LOTOS is a leading Polish oil company operating in both the upstream and downstream segments. Its shares have been listed on the Warsaw Stock Exchange since 2005.