Akin Gump has advised Trans-Siberian Gold PLC – the operator of the Asacha gold mine in Kamchatka, Russia – on the process of its GBP 108 million takeover by Horvik Ltd. The buyer was advised by Skadden, Arps, Slate, Meagher & Flom.
Horvik has agreed to buy a 51.2% stake in Trans-Siberian, in two stages, from a group of existing shareholders including private equity firm UFG Asset Management. Horvik has already acquired the first tranche, which represents 24.7% of Trans-Siberian’s shares. The second tranche is conditional on the approval of the Russian Federal Antimonopoly Service and, once received, Horvik will be required to make an offer to the remaining shareholders of Trans-Siberian for their shares on the same terms.
The Akin Gump team was led by Partner Harry Keegan and included Partners Sebastian Rice and Svetlana Volevich, and Associate George O'Malley.
The Skadden team was led by Partners Scott Hopkins and Dmitri Kovalenko and Counsel Adam Howard and included Partner Alex Jupp, Counsel Louise Batty, Associates Craig Kelly, James Michelson, Sergey Chapaev and Jake Foster, and Trainee Kathryn Gamble. On the financing side, the team was led by Partner Clive Wells and included Partner Johannes Kremer, Associates Brendan Macreadie, Alexander Halms, and Ulrike Schuster, and Trainee Cameron Russell.
