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DLA Piper and Cleary Advise on Sale of Elektrozavod and Elektrokombinat to Sistema and Sberbank Joint Investments

DLA Piper and Cleary Advise on Sale of Elektrozavod and Elektrokombinat to Sistema and Sberbank Joint Investments

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DLA Piper has advised Elektrozavod Group, a Russian manufacturer of transformer equipment, on the RUB 30.5 billion sale of a 94.01% stake in JSC Elektrozavod and 100% in LLC Elektrokombinat to LLC Megapolis Invest, a joint venture between Sistema and Sberbank Investments. Cleary Gottlieb Steen & Hamilton advised the buyers on the deal.

Sistema and Sberbank Investments provided equity financing to Megapolis Invest in the amount of RUB 11 billion and RUB 3.5 billion, respectively. Additionally, Sberbank Investments provided the purchaser with debt financing of RUB10.2 billion.

According to DLA Piper, the aim of the transaction is to create “Russia’s leading manufacturer of transformer equipment and implement a real estate development project on Elektrozavod Group’s land plots totaling 19 hectares near the Elektrozavodskaya metro station in Moscow.”

DLA Piper’s Moscow-based team was led by Partners Constantine Lusignan and Igor Venediktov and Counsel Alexey Kolegov and included Legal Director Maria Shevchenko, Senior Associates Zaurbek Timaev and Julia Zenova, and Associate Artem Pravdin.

Cleary Gottlieb Steen & Hamilton's team included Partner Yulia Solomakhina and Associates Vladislav Miroshnichenko and Irina Bratishkina.

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Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys that enables thus providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

Firm's website: www.epam.ru


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