Capital Legal Services has advised Leroy Merlin on its RUB 12 billion acquisition of 12 out of the 14 K-Rauta stores owned by Finland's Kesko, with the latter discontinuing its operations in Russia. Baker McKenzie reportedly has advised Kesko on the sale.
The ownership of the properties will transfer to Leroy Merlin in the first quarter of 2018, at which time the operations of the two remaining K-Rauta properties in the Moscow region not included in the transaction will be discontinued. The surviving shopping locations will become Leroy Merlin hypermarkets.
The Capital Legal Services team was headed by Partner Elena Stepanova and included Senior Associate Olga Sofinskaya and Associates Natalia Gegechkori and Galina Zolotukhina. English law support was provided by Of Counsel Kyle Davis.