Dentons has advised the minority shareholders in Russ Outdoor LLC, Russia’s largest outdoor advertising operator, on the sale of their combined 48.57% stake in Dutch parent company Russ Out of Home BV to the owners of the third-largest operator in the sector, Vera-Olymp.
The sale price exceeded RUB 4 billion and was financed by VTB Bank, with VTB also retaining its equity interest in the company alongside JCDecaux, which will continue as a shareholder.
According to Dentons, “Russ Outdoor was founded in 1995 under the name APR City, with News Corp acquiring a stake in 2000, which led the group to change its name to News Outdoor Russia. In 2003, News Outdoor Russia became part of the News Outdoor Group, which established its headquarters in Moscow. News Corp sold its stake to a consortium of investors in 2011, with a further sale of a minority interest to the French outdoor operator, JCDecaux in 2012.“
Denton’s Istanbul-based team included Partner Nadia Cansun and Associates Merve Akkus and Mert Berberoglu. Its Amsterdam-based team consisted of Partner Jan-Mathijs Hermans and Associate Vincent Wensing. Moscow-based Partner Marat Mouradov provided support as well.
Dentons did not reply to our inquiry on the matter.