February 2012
Deals of the Year 2011: Global Ports
If leveraged loan transactions were falling by the wayside, however, it was nothing compared with the carnage in equity markets. Even the Polish government, renowned for two years of wildly successful privatizations, was forced to cancel a planned Z7 billion secondary offering of leading bank PKO BP, while the tally of pulled Russian deals quickly ran into double figures.
Nord Gold, Koks and Chelpipe were among the early casualties, brought down by a combination of adverse external conditions and the continuing stand-off between global investors and Russian shareholders over the value of the latter’s assets – and although the $3.3 billion SPO of VTB made...
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