White & Case has advised VTB Capital as the sole global coordinator and bookrunner on PJSC Aeroflot's fundraising of more than USD 1 billion. Egorov Puginsky Afanasiev & Partners advised Aeroflot on the deal.
According to White & Case, this “is the largest capital increase by a company listed on the Moscow Exchange since 2013. The fundraise is part of Aeroflot’s financial strategy of strengthening its equity and liquidity position in the context of the exceptional circumstances caused by the coronavirus pandemic.”
According to EPAM, “under the transaction, the state was to keep its interest in Aeroflot-authorized capital of at least 51.17% ordinary shares, which required mandatory approval by governmental authorities.”
White & Case’s team in Moscow included Partner Darina Lozovsky, Local Partner Dmitry Lapshin, and Associates Renat Akhmetzyanov and Anastasia Sheyndlina, and in London Partner Inigo Esteve and Associate Samuel Curme.
EPAM’s team consisted of Partner Dmitriy Glazounov, Counsel Oleg Ushakov, Senior Associates Maxim Baryshev and Vladimir Goglachev, Associate Gilyana Haraeva, and Junior Associate Dmitry Kabanov.