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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 offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

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 that enables thus 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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