Clifford Chance has advised BNP Paribas Personal Finance on the sale of its 20.8% stake in its joint venture Cetelem Bank, to Sberbank. As a result of the deal, Sberbank, which was advised by Debevoise, became the sole shareholder of Cetelem Bank.
According to Clifford Chance, “the joint Russian point of sale finance bank Cetelem was successfully set-up back in 2012 by Sberbank and BNP Paribas Personal Finance, the consumer lending division of the BNP Paribas Group and leading provider of consumer loans in France and Europe. Currently, Cetelem Bank is the leader in the Russian car loans market for both in terms of portfolio size and sales volumes, providing consumer loans in cooperation with major auto manufacturers and their partners in 75 regions of Russia.”
Clifford Chance’s team included Partner Alexander Anichkin and Senior Associates Andrew Robinson and Vitaly Koloskov.
Debevoise's team included Partner Alyona Kucher, Counsels Anna Maximenko and Evgeny Samoylov, and Associates Daria Serebrova, Olga Panfilova, Anastasia Magid, and Tamara Kulyk.
