Goltsblat BLP has advised Severgroup on its sale of a 100% shareholding in AO Metcombank, the biggest commercial bank in the Volgograd Region and a leader on the Russian car lending market, to PAO Sovcombank. Baker Botts advised Sovcombank on the deal, which was cleared by the Russian Federal Antimonopoly Service in September. On October 7, 2016, Severgroup and Sovcombank announced that the necessary approvals had been obtained and the transaction had closed successfully.
Founded in 1993 as a private investment company, Severgroup includes ZAO Severgroup and OOO Capital. The group makes long-term investments and manages assets on behalf of Russian billionaire Alexey Mordashov.
Goltsblat BLP reports that PAO Sovcombank is ranked 20th in Russia in terms of assets (RUB 522 billion) and that, in 2015, the bank's IFRS-reported profit totalled RUB 19 billion.
AO Metcombank, the biggest bank in the Volgograd Region of Russia, was founded in 1990 and has established partner relations with AvtoVAZ, OOO Lifan Motors Rus, and ZAO GM-Avtovaz. It has been ranked as a top-10 Russian bank in terms of the volume and number of car loans issued. It also participates in a government support program for concessional auto lending.
The Goltsblat BLP team was headed by Partner Ekaterina Dedova and included Partner Matvey Kaploukhiy, Senior Associate Tatiana Parshak, and Associate Dmitry Sheludyaev.
The Baker Botts team consisted of London-based Partner Paul Exley and Moscow-based Partner Sergei Stepanov.
