The Moscow office of Dentons has advised the controlling shareholder of PJSC ChelPipe, Andrey Komarov, on the sale of his 86.54% share in the company to PJSC TMK. Latham & Watkins advised the buyer.
According to Dentons, “as part of the transaction, TMK will acquire Chelpipe’s production, sales and service assets, scrap procurement and processing, and other assets related to the activities of the pipe and pipeline division.” In addition, the firm reported, Chelpipe’s oil services division, Rimera Group, was not included in the deal.
ChelPipe is a Russian metallurgical company which primarily focuses on the production of pipes. According to Dentons, the company has its own developed regional sales network, Uraltrubostal, represented by 13 branches throughout the country with an annual turnover of about 300,000 tons of pipe products. ChelPipe’s service centers of are located in Russia’s key oil-producing regions of Chelyabinsk and Sverdlovsk, as well as in Benesov, Czech Republic.
ТМК is a supplier of steel pipes and related services for the oil and gas industry. The company operates production sites in Russia, Romania, and Kazakhstan.
This marks a second transaction Dentons has advised ChelPipe on in recent years, after it assisted the company with its debut USD 300 million Eurobond issuance in 2019 (as reported by CEE Legal Matters on October 28, 2019).
The Dentons team consisted of Partner Maria Oleinik, Counsel Anton Kunashov, and Associate Olga Sokolova.
Latham & Watkins’s team included Partner Alexander Gomonov and Associates Oksana Uberwolf, Timur Bayramov, Leonid Lepold, and Bairas Magadeev.
