Slaughter and May, working as an integrated team with Paul, Weiss, Rifkind, Wharton & Garrison LLP, is advising the Countrywide Group on its intention to proceed with an initial public offering of its ordinary shares, as announced on 20 February 2013. Countrywide is the UK's leading integrated, full service residential estate agency and property services group as measured by both revenue and transaction volumes in 2012.

Shares in a new holding company of Countrywide will be offered to institutional investors in the UK and elsewhere, and application will be made for the shares to be admitted to the premium listing segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange. The offer is expected to raise gross primary proceeds of approximately £200 million which will be used to repay certain outstanding borrowings under the group's existing financing arrangements.

The syndicate for the IPO comprises Goldman Sachs International and Jefferies International Limited as Joint Sponsors, Joint Global Coordinators and Joint Bookrunners, and Credit Suisse Securities (Europe) Limited as a Joint Global Coordinator and a Joint Bookrunner.

Contacts

Corporate and Commercial: Jeff Twentyman (partner), Richard Smith (partner), Jonathan Walters (associate), Owen Ross (associate), Danielle Topic (associate), Catherine Rutter (associate), Oliver Broomfield (trainee), Phoebe Hughes (trainee); Financing: Ed Fife (partner), Andrew Chaplin (associate); Financial Regulation: Ruth Fox (partner), Michael Raymond (associate); Pensions and Employment: Jonathan Fenn (partner), Olivia Buchan (associate), Sarah Ferguson (associate); Tax: Graham Iversen (partner)
 
Paul, Weiss, Rifkind, Wharton & Garrison LLP (US law): Mark Bergman (partner), Patricia Vaz de Almeida (associate)

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