Linklaters has advised VTB Capital, Renaissance Capital, and CLSA Ltd. as placing and settlement agents on the sale by Onexim Holdings Ltd of an approximately 3% stake in UC Rusal. Herbert Smith Freehills advised Onexim Holdings on the deal.
UC Rusal is one of the largest aluminum producers in the world, with ordinary shares listed on the Hong Kong and Moscow Stock Exchanges. It is also listed on Euronext Paris in the form of Global Depositary Shares and Moscow Exchange in the form of Russian Depositary Receipts.
Linklaters Hong Kong-based Partner Alex Bidlake, who led the firm's team on the deal, commented: “In terms of deal size, this placing represented one of the largest Russian equity transactions in the last three years and involved our teams across Hong Kong, London, and Moscow. It also closely follows UC Rusal’s USD 600 million Eurobond issue on which Linklaters acted as advisor to the managers.”
In addition to Bidlake, Linklaters' team consisted of London Capital Markets Partner Jason Manketo and Associate Joseph Wolpin and Moscow Capital Markets Partner Dmitry Dobatkin.
Herbert Smith Freehills did not reply to our inquiry on the matter.