Davis Polk advised Ocado Group plc as to U.S. law in connection with its placing of 33,163,265 new ordinary shares with existing and new institutional investors, which raised gross proceeds of £657 million. Concurrently with the placing, Ocado also offered £350 million of guaranteed senior unsecured convertible bonds due 2027. 

Ocado Group plc is a leading online grocery platform and solutions provider. Ocado Group is the only end-to-end solution provider for online grocery fulfilment globally, with proprietary and proven technology that has been developed and successfully operated in the United Kingdom over the last 20 years. The Group’s technology provides a flexible platform, able to serve all missions, with a market leading customer offer and compelling economics.

The Davis Polk corporate team included partner Reuven B. Young and associate Christopher Diel. All members of the Davis Polk team are based in the London office.

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