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Andrey Gorodissky & Partners Advises Sberbank on Transaction with Rostelecom

Andrey Gorodissky & Partners Advises Sberbank on Transaction with Rostelecom

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Andrey Gorodisskiy & Partners supported the increase of the capital of a commercial real estate sub-fund to RUB 8.8. billion through Telecom-5 — a joint venture of Sberbank PJSC and Rostelecom PJSC.

According to the agreement, both Sberbank and Rostelecom are contributing RUB 2.4 billion in their joint venture, each retaining 50 percent in stake. The transaction was arranged through Sberbank Investments LLC, a fully owned subsidiary of Sberbank PJSC.

The purpose of the capital increase is to exploit the real estate potential and development of the acquired 22 properties from Rostelecom that cover over 139 thousand square meters in Moscow, the Moscow Region, and St. Petersburg. The portfolio of the joint venture has been increased to 38 properties in eleven cities of Russia.

The joint venture of Sberbank and Rostelecom started in December 2016 with 16 properties in the portfolio. The AGP team also consulted on the transaction back then.

The AGP team was led by Partner Alexey Gorodisskiy and lawyer Jose Tobar. 

AGP did not reply to our inquiry about the deal.


Russian Knowledge Partner

Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated office in Cyprus.

We handle some of the largest and most complex and demanding transactions. We advise our clients in many areas of law, including: dispute resolution in Russia and abroad, International Arbitration and Litigation, M&A and Corporate, antitrust issues, criminal law, intellectual property, restructurings and insolvencies, international trade and customs, tax, real estate and construction, banking and finance, energy and natural resources, environmental and technical regulation, marine and transport law, pharmaceuticals and healthcare and others.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys, providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

Firm's website: www.epam.ru


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