Grupo Lala in $1.1 Billion Initial Public Offering

October 21, 2013

Cleary Gottlieb represented J.P. Morgan, Morgan Stanley and Banco Bilbao Vizcaya Argentaria as the initial purchasers in the $1.1 billion initial public offering by Grupo Lala, S.A.B. de C.V., Mexico’s leading dairy company. The global offering consisted of a public offering in Mexico through the Mexican Stock Exchange and an international offering in the United States under Rule 144A and outside of the United States in reliance on Regulation S. The common stock is listed on the Mexican Stock Exchange under the symbol “LALA.” The deal priced on October 15 and closed on October 21. The offering price was Ps. 27.50 per share.

This deal is the fifth Mexican IPO in which Cleary Gottlieb has participated in 2013.

Lala is the leading dairy company in Mexico with widely recognized brands, focused on the mass consumer market. Lala has a strong share of the market in Mexico, its principal geographic area, but the company also has a growing presence in Central America. In the course of its history, Lala has evolved from a small enterprise in northern Mexico that produced only pasteurized milk to a company that markets and sells a portfolio of branded and value-added products in multiple product categories and regions, positioning it as one of the world’s largest dairy companies in terms of sales.