Dentons has advised Raven Russia on its acquisition of part of a warehouse complex covering about 195,000 square meters, including land plots and numerous infrastructure facilities, from the Orientir group (formerly Logopark Development).
As previously reported on December 27, 2017 the seller, Orientir group, was represented by Goltsblat BLP.
Raven Russia was founded in 2005 to invest in class A warehouse complexes in Russia and lease to Russian and International tenants. Its Ordinary Shares, Preference Shares and Warrants are listed on the Main Market of the London Stock Exchange and admitted to the Official List of The International Stock Exchange.
The Sever-2 class A logistics complex it acquired from Orientir has tenants like OBI, O’key, Major, Miratorg, and R-Pharm.
According to Dentons, "the transaction was complicated by the fact that only part of the warehouse complex was acquired, which made it necessary to structure legal relationships with other residents of the complex, and also by the complex purchase price structure, which provided for payments in stages and adjustment mechanisms."
Dentons Partner and head of Russia Real Estate and Construction practice Sergey Trakhtenberg commented: “This transaction was truly complex from both the legal and commercial perspectives. The parties negotiated intensively for many months over all different aspects of the deal, starting from the purchase price structure, payment methods using escrow, ending with issues of VAT payment and the parties providing cross easements. Despite all of the complexities, of which there were many, everyone who participated in this transaction displayed their best qualities and, as a result, the parties reached a compromise on all of the issues and implemented the project. We are very happy and proud to have been a part of that process.”
Dentons' team was led by Partner Sergey Trakhtenberg and included Associates Tatiana Petrykina, Ilya Machavariani, Georgy Logunov, Ekaterina Merabishvili, and Associate Denis Borisov. Counsel Igor Schikow led the firm's team of lawyers handling tax aspects of the transaction.