Bryan Cave Leighton Paisner has advised Russia’s Sberbank on its sale of debt and equity in the Eurocement Group to the Mikhaylovsky Construction Materials Plant for an aggregate consideration of RUB 161 billion. According to BCLP, Schellenberg Wittmer advised the seller on Swiss law while Patrikios Pavlou & Associates and Chryssafinis & Polyviou advised on Cypriot law. Rybalkin Gortsunyan & Partners advised the buyer on the deal.
The buyer – the Mikhaylovsky Construction Materials Plant – was selected through electronic auction as the winning bidder. According to Sberbank, the transaction is "unique in terms of size and structure, ... unprecedented for the Russian market. It has been closed through an open and transparent market procedure during which its participants raised their bids over 40 times."
The sale is a part of a global arrangement for the settlement of Eurocement Group’s debt toward Sberbank, as was Sberbank’s recent sale of shares in Eurocement’s subsidiary JSC Akhangarancement (as reported by CEE Legal Matters on August 4, 2021).
Eurocement is a Moscow-based supplier of cement, ready-mix concrete, and aggregates in Russia. The company operates 16 cement plants across Russia, Ukraine, and Uzbekistan, in addition to several concrete mix plants, concrete goods factories, and aggregate-mining quarries.
BCLP’s team included Partners Yury Babichev and Matvey Kaploukhiy and Counsel Igor Zhivotov, among others.
Rybalkin Gortsunyan & Partners’ team consisted of Managing Partner Suren Gortsunyan, Counsel Konstantin Mineev, and Associates Marina Abazyan and Daniil Ivanov.
