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Deals of the Year 2011: Global Ports

Global Ports
Value $587.5 million IPO
Global coordinators Deutsche Bank, Goldman Sachs, Morgan Stanley, Troika Dialog
return to the Emerging Europe Deals of the Year index

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 it to market, a long-awaited offering of 7.6% of Sberbank scheduled for September was one of several promised Russian privatizations that never saw the light of day.

Again, this threw into flattering relief the deals that did make it through – although the year’s biggest IPO, the $1.435

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