Davis Polk advised the joint global coordinators and representatives of the several underwriters in connection with the €550 million Rule 144A/Regulation S initial public offering of the ordinary shares of Telepizza Group, S.A.U. (“Telepizza”). The global offering comprised an offering to institutional investors within and outside of Spain. The ordinary shares are listed on the Spanish Stock Exchanges.

Telepizza is the largest non-U.S.-based pizza delivery company in the world by number of stores, with 1,311 stores globally, including 461 own stores and 850 franchised and master franchised stores as of December 31, 2015.

The Davis Polk capital markets team included partner Michael J. Willisch and associates Lauren Obee and Sonia Rodríguez. Partner Simon Witty and associate Nick Gilling provided English law advice. The tax team included partner John D. Paton and associate Nicholas A. Machen. Members of the Davis Polk team are based in the Madrid and London offices.