Goltsblat BLP, the Russian Practice of Berwin Leighton Paisner (BLP), has — jointly with BLP — advised Irish regional airline CityJet on negotiating a framework agreement for delivery of 15 firm and 16 optional aircraft, including leasing documentation and engine and airframe support services agreements. The contract value of the deal is more than USD 1 billion, including options and aftersales services.
Orrick has represented Russian banks Sberbank and VTB as providers of RUB 70 billion (approximately USD 1.1 billion) in financing for Telmamskaya HPP LLC (a 100% subsidiary of EuroSibEnergo Group, which is part of the En+ Group, a leading Russian energy and natural resources industrial conglomerate). Baker Botts advised Telmamskaya HPP on the deal.
Sergei Stefanishin became the Head of Legal CIS & SEE at DHL in Moscow in November 2015. His previous experience includes working for EY, first as a Director and later as a Partner and CIS Transactions Law Leader. Prior to EY he was the Head of the Moscow Representative Office of Bech-Bruun International, which he joined as a Senior Lawyer in 2001. Earlier still, he was a Senior Lawyer with InSpace Consulting and a Junior Lawyer with Baker & McKenzie.
The London, Moscow, and New York offices of Debevoise & Plimpton LLP have advised longstanding client NLMK on a new USD 700 million, 7-year Eurobond offering, with an annual coupon rate of 4.5%. Linklaters advised Joint Lead Managers Deutsche Bank AG, London Branch, ING Bank N.V., London Branch, J.P. Morgan Securities plc, and Societe Generale.
Liniya Prava has provided legal counsel to LLC Transport Concession Company (“TCC”) on the concession agreement it entered into on May 30th with the Government of St. Petersburg for the creation and reconstruction of a tramway network in the Krasnogvardeiskiy district of St. Petersburg. The CJSC Leader pension fund asset management company is the financial arranger of the concession.
Avellum has acted as Ukrainian counsel to the Ministry of Finance of Ukraine on the restructuring of a sovereign-guaranteed loan provided by JSC Sberbank of Russia to the Yuzhnoye State Design Office and the Road Agency of Ukraine (with an outstanding principal balance of approximately USD 367 million), and another loan by Citibank and Sberbank to the Road Agency of Ukraine (with an outstanding principal balance of EUR 37.3 million). Sberbank and Citibank were advised by Sayenko Kharenko, with Linklaters advising on matters of English law.
Women’s Day is behind us, but the subjects of gender equality and equal opportunity are of year-round concern. This, the first part of a special two-part CEE Legal Matters article on women in private practice in CEE, provides the numbers and percentages from leading law firms across CEE, as well as a more thorough snapshot of one representative market. Part II of the report, in the June issue, will pull back the curtain even more, providing feedback and perspectives from lawyers across the region.
CMS has advised Polish private equity fund Innova Capital on the acquisition of Slovenia's Trimo Group, a leading European provider of complete solutions for building envelopes and steel facade systems. The sellers are nine banks, including Slovenia's largest bank, Nova Ljubljanska Banka (NLB). The transaction is subject to merger control approvals and is scheduled to close in Q1 2016, once conditions precedent have been fulfilled.
White & Case has advised Naspers Limited, the South African-based global Internet and media company, on its USD 1.2 billion investment in Avito, the leading online classifieds platform in Russia. Naspers is buying shares from existing shareholders to increase its stake in the Swedish holding company Avito AB from 17.4 percent to 67.9 percent on a fully diluted basis. Ashurst advised Avito on the matter.
The Competition Practice team of Egorov Puginsky Afanasiev & Partners successfully defended the interests of Yandex — Russia's largest IT company — against Google, in the former’s claim that the latter had abused the market in relation to pre-installed app stores for devices on the Android operating system.
Norton Rose Fulbright is advising Sacturino Limited — controlled by Said Kerimov, the son of billionaire Suleiman Kerimov — on its offer of USD 2.97 per share for the 59.8% share capital of Polyus Gold International that it or its parent Wandle Holdings Limited does not already own or have an interest in. Debevoise & Plimpton is advising Sacturino on financing aspects for its offer, which include a USD 5.49 billion facility arranged by VTB Bank — which was advised by Allen & Overy.
The London and Moscow offices of Debevoise & Plimpton LLP have advised NLMK Europe Plate Division in signing and closing a EUR 250 million revolving collateralized credit facility. The facility was signed with four international banks, led by Deutsche Bank as Coordinator, Bookrunner and Agent, which was advised by lawyers from Hogan Lovells Moscow office — along with lawyers from the firm’s Amsterdam office.
The facility is guaranteed by the NLMK Group — the largest steelmaker in Russia and one of the most efficient in the world — carries a margin of 2.00%, and has a tenor of four years.
NLMK's production assets are located in Russia, Europe, and the United States. The company’s liquid steel production capacity is over 17 million tonnes per year, of which about 16 million tonnes are produced in Russia. The company generated USD 10.4 billion in revenue; USD 2.4 billion in EBITDA; and a net profit of USD 845 million in 2014.
The Debevoise team advising NLMK was led by London Partner Alan Davies and Moscow Associate Dmitry Karamyslov, and included Moscow-based Associate Elena Bader. London Partner Richard Ward and Associate Patrick Fasoro provided tax advice.
Hogan Lovells advised Deutsche Bank as co-ordinating mandated lead arranger, bookrunner, and agent on the EUR 250 million revolving collateralized credit facility which is guaranteed by OJSC Novolipetsk Steel (NLMK) and made available to group company borrowers in Belgium and Italy. The firm’s team was led by London Finance Partner David Leggott and Associates Daniela Barrdear and Emma Milne. They were supported in Italy by Partners Federico del Monte (international debt capital markets) and Fulvia Astolfi, with assistance from Senior Associate Daniele Vella. Hogan Lovells Moscow-based Partner Alexander Rymko and Senior Associate Oleg Gritsenko and Amsterdam-based lawyers Wouter Jongen and Art van der Pols also supported on the matter.
Commenting on the transaction, David Leggott said: "We are delighted to have advised long-standing client Deutsche Bank on this deal and also to be working again with a key player in the steel sector market in the shape of NLMK. There has been tremendous teamwork from all parties on all sides to bring this matter to a successful conclusion.”
Lydian acted as Belgian counsel. The firm’s team was led by Tom Geudens, who was supported by Pieter Meeus and Pieterjan Van Assche.
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