Largest Russian Restaurant Chain in $100 Million IPO

June 14, 2007

Cleary Gottlieb served as Russian, English and U.S. counsel to Rosinter Restaurants in its $100 million Regulation S initial public offering, which closed on June 14. Renaissance Capital acted as sole bookrunner and underwriter for the offering of the shares, which trade on the Russian Trading System Stock Exchange.

The selling shareholder, RIG Restaurants Limited, structured the offering as the sale of secondary shares. Following completion of the offering, RIG subscribed to $60 million in primary shares. Mr. Rostislav Ordovsky-Tanaevsky Blanco, who founded the casual dining business in 1993, remains the ultimate controlling shareholder of the company.

Rosinter operates the largest casual dining business in Russia and the CIS with 192 restaurants, including its locally-famous IL Patio and Planet Sushi brands, and is also T.G.I. Fridays® franchisee in Russia and the CIS.