Already suffering from the Covid-19 pandemic, Russia has been heavily affected by the volatility of the ruble, Western sanctions, and the price of oil, notes Torsten Syrbe, Partner at Clifford Chance in Moscow.
Deal 5: STEP Head of Legal Yulia Nikolaeva on Dispute with Pharmasintez-Nord
On October 15, 2020, CEE Legal Matters reported that Kachkin & Partners had successfully helped Russian general contractor STEP LLC reach a settlement with Pharmasintez-Nord JSC in a dispute regarding payment for work and related claims worth over RUR 100 million. CEEIHM spoke with Yulia Nikolaeva, Head of Legal Service at STEP LLC, to learn more.
Bryan Cave Leighton Paisner Advises HeadHunter Group on Acquisition of Zarplata.ru Recruiting Platform
Bryan Cave Leighton Paisner has advised the HeadHunter Group, which operates Russian online recruiting platform hh.ru, on the acquisition of the Zarplata.ru online recruiting platform from Hearst Shkulev Digital Regional Network B.V. The transaction, which is valued at RUB 3.5 billion, has already been given the requisite regulatory approval and is expected to close in January 2021.
Bryan Cave Leighton Paisner Helps Gazprom Neft Establish Joint Venture with Tsifra Group
Bryan Cave Leighton Paisner has advised Gazprom Neft PJSC on the creaion of Digital Industrial Platform, a joint venture with the Tsifra Group. Dentons reportedly advised the Tsifra Group on the deal.
Latham & Watkins and Debevoise Advise on Ozon Holdings IPO
Latham & Watkins has advised the underwriters on the USD 1.1 billion initial public offering of Russian e-commerce platform Ozon Holdings PLC on Nasdaq. Debevoise & Plimpton advised Ozon Holdings on the deal.
Tax Changes for Small and Medium Enterprises in Russia – Benefits for Foreign Businesses with Russian Subsidiaries
As in other countries, business in Russia has been heavily affected by the COVID-19 pandemic, and small and medium enterprises, which do not have enough reserves to survive in the unfavorable economic situation, have suffered the most. In order to support SMEs, the State, in addition to temporary support measures, has introduced a considerable decrease in the tax burden related to the remuneration of employees above the minimum monthly wage. Cumulative social contributions were lowered to 15% from the previous rate (which could reach 30%, with certain exceptions), and may be applied by SMEs.
Oleg Todua Promoted to Local Partner at White & Case Moscow
Former Senior Associate Oleg Todua has been promoted to Local Partner at White & Case’s Moscow office as part of a global promotions round.
Hogan Lovells Advises Digital Assets on Acquisition of Zvuk
Hogan Lovells’s Moscow office has advised Digital Assets on its acquisition of Zvuk, a Russian independent music streaming service.
EPAM Successful for ZMK 1520 in Dispute with New Forwarding Company
Egorov Puginsky Afanasiev & Partners has successfully represented ZMK 1520 in a dispute with New Forwarding Company over the replacement supply of railway wagons heard by the Supreme Court of Russia.
Semenov & Pevzner Defends Domino’s Pizza in Dispute with Russian Franchisee
Semenov & Pevzner has successfully represented the interests of Domino’s Pizza in the Russian city of Chelyabinsk against a former franchisee.
Beiten Burkhardt to Close St. Petersburg Office
Beiten Burkhardt has announced that it will close its St. Petersburg office at the end of the year, concentrating the firm's Russian business exclusively in its Moscow office.
KIAP and Dentons Advise on Sale of Stake in Banki.ru to Elbrus Capital
Korelsky Ischuk Astafiev has advised founders Philip Ilyin-Adaev, Kirill Ilin-Adaev, and Elena Ishcheeva, on the sale of their stakes in Banki.ru to Elbrus Capital and another unspecified investment fund. Dentons advised the buyer on the deal.
Clifford Chance and Debevoise Advise on BNPP PF's Sale of JV Stake in Cetelem Bank to Sberbank
Clifford Chance has advised BNP Paribas Personal Finance on the sale of its 20.8% stake in its joint venture Cetelem Bank, to Sberbank. As a result of the deal, Sberbank, which was advised by Debevoise, became the sole shareholder of Cetelem Bank.
Latham & Watkins Advises VTB Bank on Nova Resources' GBP 3 Billion Take Private Offer for KAZ Minerals
Latham & Watkins has advised VTB Bank as arranger and lender in connection with the GBP 3 billion take-private offer for KAZ Minerals PLC made by Nova Resources, a consortium formed by two of KAZ Minerals’ largest shareholders. Linklaters reportedly advised KAZ Minerals on the deal.
Russia: A Step on the Road to Improved Antitrust Compliance
Most multinational corporations have internal antitrust compliance policies in place for their global businesses, covering their Russian operations. Following years of debate, Russia has enacted a law meant to improve antitrust compliance by regulating internal compliance policies (the “Compliance Act”).
EPAM Advises TA Associates on Investment in Netwrix
Egorov, Puginsky, Afanasiev & Partners, working alongside lead counsel Goodwin Procter, has advised TA Associates on an unspecified investment in Netwrix Corporation.
White & Case and EPAM Advise on Aeroflot’s Equity Capital Increase
White & Case has advised VTB Capital as the sole global coordinator and bookrunner on PJSC Aeroflot's fundraising of more than USD 1 billion. Egorov Puginsky Afanasiev & Partners advised Aeroflot on the deal.
Andrey Gorodissky & Partners Advises Founders of "Kitchen on the District" Service on Sale to O2O
Andrey Gorodissky & Partners has advised the founders of the "Kitchen in the District" service on their sale of an 87.4% stake in the company to O2O, a joint venture of the Mail.ru Group and Sberbank.