DLA Piper has advised Debex on the sale of a minority stake in the company to Dmitry Shushkin, the managing director of ABBYY Russia.
Debex is an online marketplace allowing financial institutions to sell non-performing loans and commercial debt to debt collectors through the auction process. It was founded by Alexander Danilov and Oleg Zankov, co-founders of CarPrice, an online car auction website. According to DLA Piper, "by the end of 2020, Debex plans to occupy up to half of the Russian market for overdue debt sold online, as well as start operations outside of Russia."
According to the ABBYY website, the company is "a leading provider of document recognition, data capture and linguistic software."
DLA Piper's team was led by Moscow-based Partner Leo Batalov, who was assisted by Senior Associate Andrei Sheetkin and Associate Tatiana Askarova.