White & Case has advised Russian online video streaming service IVI on financing it received from Alfa Bank. Herbert Smith Freehills advised Alfa Bank on the deal.
IVI is a Russian online video streaming service that offers licensed video content, including more than 65,000 movies, TV shows, cartoons, and music videos.
According to White & Case, “the deal is a benchmark in the rapidly growing Russian video services market. IVI is the first online service to attract external financing instead of using its own equity funds. The bank provided IVI with a venture loan with a maturity of six years. According to the terms of the transaction, Alfa-Bank also received the right to acquire 2.5 percent of the company’s equity under a warrant agreement.”
White & Case’s team was led by Partner Natalia Nikitina and included Partner Irina Dmitrieva, Local Partners Ekaterina Logvinova and Dmitry Lapshin, Counsels Pavel Boulatov and Adam Smith, and Associates Azamat Gaisenov, Adel Shageev, and Roman Kudryavstev.
Herbert Smith Freehills' team in Moscow included Partner Artjom Buligin, Senior Associates Georgiy Entin, Samara Goode, Vadim Nikitin, and Denis Morozov, Associate Georgy Kurgansky, and Trainees Robert Bikbulatov, Igor Musienko, Yulia Sobko, and Maria Zerkalova.
