28
Thu, Mar
51 New Articles

DLA Piper Advises TAIF on Merger of Petrochemical Business with Sibur

DLA Piper Advises TAIF on Merger of Petrochemical Business with Sibur

Russia
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

DLA Piper has advised Russian oil and gas company TAIF on the merger of its petrochemical business with Russian petrochemical company Sibur. Herbert Smith Freehills reportedly advised Sibur.

Existing TAIF shareholders will receive a 15% stake in Sibur Holding in exchange for the transfer of a controlling interest in TAIF’s group of petrochemical and energy companies, with the remaining stake in TAIF subsequently available for purchase by Sibur.

According to DLA Piper, the enlarged company will become one of the world’s top five producer of polyolefin and rubber products. According to the firm, "the merger will make the entity’s petrochemical operations more competitive in the global market, improve its resilience to market fluctuations and unlock additional growth potential for Russia’s petrochemical industry through the joint realization of capital intensive projects, boosting chemical non-commodity exports. It will also create new jobs and opportunities for sustainable development and environmental management."

DLA Piper's team was led by Moscow-based Corporate Partner Evgeny Glukhov, assisted by Senior Associate Evgenia Kudryashova and Associates Ksenia Mikhaylova and Anna Litovchenko.

Editor's note: After this article was published, White & Case announced it had advised Sibur. The firm's team included Moscow-based Partner Nikolay Feoktistov, Local Partners Ekaterina Logvinova and Dmitry Lapshin, Counsels Adam Smith and Pavel Boulatov, and Associates Evgeny Chernyavsky and Tigran Saakyan and Istanbul-based Competition Adviser Sezin Elcin-Cengiz with further White & Case teams in Brussels and Dusseldorf.

DLA Piper at a Glance

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, helping clients with their legal needs around the world. We strive to be the leading global full-service law firm by delivering quality and value to our clients. With practical and innovative legal solutions, we help our clients succeed.

In Central and Eastern Europe (CEE), DLA Piper continues to grow and now employs more than 320 lawyers, including 46 partners across its six offices in Austria, the Czech Republic, Hungary, Poland, Romania and Slovakia. With our global set-up and established relationship firms across all other CEE jurisdictions, we are among the largest and most experienced international law firms in the region. Through our experience gained advising on a variety of high-profile projects and the long-term relationships we have established with our clients, we have built a reputation as a leading business law firm across CEE.

Firm's website.