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.
