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Moscow

Skadden Moscow Office Image

Ducat Place III

Gasheka Street 6

Moscow 125047

Russian Federation

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T: 7.495.797.4600

F: 7.495.797.4601

The Moscow office of Skadden, Arps, Slate, Meagher & Flom LLP (“Skadden”) opened in 1992 and focuses primarily on corporate and finance transactions, including mergers and acquisitions, capital markets and project finance, as well as international arbitration and litigation. Our transactional and regulatory practices cover a variety of industries, including, most notably, financial services and banking, natural resources, communications, media and entertainment, and consumer goods.

Our Moscow lawyers work in conjunction with our other European offices, to provide integrated Russian, English and U.S. law advice. Skadden is recognized as one of the leading law firms in Russia and the CIS, consistently ranking in the top tiers for Russia M&A and capital markets work. According to Chambers Global: “The expertise on the ground in Moscow is the Firm’s trump card; whilst sources say there is ‘excellent partner coverage on a deal, bringing consistent quality, thoroughness and low risk.’” In the last five years, Skadden’s Russia practice has received top honors from the legal and business press:

  • “M&A Deal of the Year” IFLR European Awards 2014
  • “The Best International Legal Adviser” Mergers.ru 2013
  • “Global M&A Deal of the Year: Russia” American Lawyer Global Awards 2013
  • “M&A Firm of the Year for Russia & CIS” Financial Times/mergermarket European Awards 2012
  • “M&A Team of the Year” IFLR European Awards 2012
  • “Law Firm of the Year: Russia” IFLR European Awards 2011
  • “M&A Firm of the Year for Russia & CIS” Financial Times/mergermarket European Awards 2010
  • “Law Firm of the Year: Russia” IFLR European Awards 2009

 

Languages

  • Russian
  • English
  • French
  • Spanish
  • Italian

Capital Markets

  • SIBUR, the largest integrated gas processing and petrochemicals company in Russia/CIS/CEE, in connection with its debut five-year US$1 billion 3.914% Rule 144A / Reg S bond issue listed on the regulated market of the Irish Stock Exchange;
  • Barclays Bank PLC; Citigroup Global Markets Limited; ING Bank N.V., London Branch; and the Royal Bank of Scotland plc in connection with the offering by VimpelCom Holdings B.V., of US$600 million 5.20% senior unsecured notes due 2019, US$1 billion 5.95% senior unsecured notes due 2023 and RUB12 billion 9.00% senior unsecured notes due 2018;
  • Brunswick Rail in connection with its US$600 million 6.55% high- yield bonds due 2017. This deal was awarded “2012 Deal of the Year for Central and Eastern Europe” by Euromoney Magazine;
  • Morgan Stanley and Credit Suisse as joint sponsors in the redomiciliation of the Evraz Group S.A. (a steel producer) to the United Kingdom and admission to listing on the premium segment of the Official List, and to trading on the main market of the London Stock Exchange, by means of a share exchange offer made by EVRAZ plc, a newly incorporated U.K. public limited company, for up to the entire issued and outstanding ordinary share capital of Evraz Group S.A. This is the first premium listing of a Russian business in the form of a PLC, and is expected to be the first Russian business to be included within the FTSE 100;
  • Morgan Stanley, Renaissance Capital and VTB Capital, acting as underwriters, in an SEC-registered offering of 32,000,000 preferred shares of Mechel OAO, a leading Russian mining and metals company, to retail and institutional investors in the U.S. and Russia and certain qualified investors outside of the United States. The offering closed at US$560 million;
  • OAO Gazprom, an oil and gas company in Russia, in connection with the listing of additional American Depositary Shares and a further block listing of American Depositary Shares on the London Stock Exchange;
  • Ros Agro PLC (Russia), a food processor with agricultural operations, in its US$330 million initial public offering of Global Depositary Receipts, which were listed on the London Stock Exchange;
  • the underwriters in the approximately US$400 million initial public offering of ordinary shares and Global Depositary Receipts of OJSC TransContainer (Russia), an intermodal container transportation and logistics company. The ordinary shares were dual-listed on the Russian Trading System and the Moscow Interbank Currency Exchange and the GDRs were listed on the London Stock Exchange. This was the first major privatization conducted by the Russian government as part of its US$50 billion privatization program;
  • Eurasia Drilling Company Limited, a provider of oil drilling services, in the US$240 million offering of its Global Depositary Receipts by one of its major shareholders via an accelerated book building;
  • O’KEY Group S.A., an owner of one of the largest Russian retail chains, in an approximately US$420 million IPO with a listing of GDRs on the LSE;
  • the underwriters in a SEC-registered offering by a group of selling shareholders of preferred American Depositary Shares, representing preferred shares issued by Mechel OAO, a leading Russian mining and metals company. The preferred American Depositary Shares have been listed on the New York Stock Exchange;
  • OJSC Protek, Russia’s largest vertically integrated pharmaceutical holding company, in connection with the initial public offering of its shares with listing on the Russian Trading System (RTS) and the Moscow Interbank Currency Exchange (MICEX);
  • a remaining shareholder in Lenta in connection with the acquisition by TPG and VTB Capital of an approximately 35 percent stake in Lenta Ltd., and the new shareholders' arrangements to govern the management of Lenta and regulate the relationship between them;
  • OJSC DIXY Group, one of Russia's largest food and household supply retailers, in connection with its US$52 million offering of new shares to existing shareholders and limited number of third-party investors;
  • Citigroup and Goldman Sachs International as Joint Global Coordinators and Alfa Capital Markets, Citigroup and Goldman Sachs International as joint bookrunners to X5 Retail Group N.V. (X5) in its US$1.1 billion rights offering and follow-on secondary offering of 48,106,700 GDRs to existing holders of GDRs. X5 was formerly known as Pyaterochka Holding N.V.;
  • Morgan Stanley and Deutsche Bank as joint global coordinators, joint bookrunners and joint lead managers in the US$435 million offering by OJSC “Magnit” together with an offering by Lavreno Limited. The offering includes the exercise of the over-allotment option;
  • ABN AMRO BANK N.V. and Renaissance Capital as Joint Lead Managers and Joint Bookrunners to OJSC Enisey TGK (TGK-13) on the US$470million share offering on the Russian Trading System (RTS) and Moscow Interbank Currency Exchange (MICEX). TGK-13 is a Russian company, engaged in the generation, sale, and supply of heat and electricity in the Krasnoyarsk Region of Siberia. This transaction represents the eighth Russian power privatisation transaction on which Skadden has advised;
  • ING Bank N.V. as Lead Manager and Sole Bookrunner in the US$100 million flotation on the London Stock Exchange (LSE) of Zhaikmunai LP;
  • Goldman Sachs International and Credit Suisse Securities (Europe) Limited, as the joint bookrunners in the Rule 144A / Regulation S follow-on offering of ordinary shares by OJSC “Cherkizovo Group”. This transaction represented the first Rule 144A equity offering by a Russian company that did not also include an offering of GDRs;
  • the founders of Eurasian Natural Resources Corporation plc (ENRC) in connection with ENRC's IPO and listing on the London Stock Exchange. ENRC listed a UK holding company and is one of the first emerging markets issuers to achieve a full main board listing on the LSE rather than a listing of GDRs;
  • Merrill Lynch and Troika Dialog as advisers of OAO “Volga TGK” (TGK-7) in connection with US$467 million pre-emptive rights offering of 14.8 percent of its primary shares;
  • Bank of Moscow (open joint stock company) in connection with CHF 250,000,000 6.253% loan participation notes due 2011 issued by Kuznetski Capital S.A. for the sole purpose of financing a loan to the Bank of Moscow;
  • Renaissance Capital and UBS as the financial advisers of OAO “Kuzbassenergo” (TGK-12) in connection with the pre-emptive rights issue by it of new shares comprising 14.2 percent of its share capital on a diluted basis via open subscription and sale of one half thereof to OAO “SUEK” as a pre-emptive shareholder and another half thereof to investment funds managed by Alfa-Bank and ABN Amro for US$ 307 million in aggregate;
  • US$365 million Regulation S IPO of ordinary shares and listing on the RTS and MICEX by Open Joint Stock Company “Mvideo” (Mvideo). Mvideo is a leading consumer electronics and home appliance retailer in Russia. The offering consisted of a secondary offering of shares by its shareholder Svece Limited with a further closed subscription for new shares of the company by Svece Limited resulting in gross proceeds to Mvideo of US$208 million;
  • US$720 million Rule 144A / Regulation S primary and secondary public offering of GDRs, each representing one ordinary share of the company, of Eurasia Drilling Company Limited. The value does not include the exercise of the over-allotment option. The GDRs were listed on the main board of the London Stock Exchange;
  • Citigroup Global Markets Limited, Renaissance Capital and UBS Investment Bank as underwriters in the US$1 billion secondary public offering of shares and GDRs of JSC Uralkali, including the exercise of a greenshoe option. The GDRs were listed on the London Stock Exchange and the shares on the RTS. The offering included a placement to qualified institutional buyers in the United States pursuant to Rule 144A;
  • Deutsche Bank, Troika Dialog and UBS in the US$1 billion Rule 144A / Regulation S IPO of shares and GDRs of JSC OGK-2. The GDRs were listed on the LSE and the shares were listed on both the RTS and the MICEX;
  • Goldman Sachs, Merrill Lynch and MDM-Bank as the financial advisors of OAO “OGK-6” in relation to the pre-emptive rights issue by it of new shares comprising 17 percent of its share capital and sale of substantially all of these shares to OAO “Gazprom” for US$860 million;
  • Troika Dialog and UBS as the financial advisors of JSC OGK-4 and agents of RAO UESR in connection with the sale of a combination of secondary and primary shares of JSC OGK-4 to E.ON Ruhrgas comprising in aggregate 60.8 percent of the share capital of JSC “OGK-4” on a non-diluted basis for US$5.8 billion;
  • US$1.93 billion IPO of GDRs and ordinary shares of PIK Group OJSC. The GDRs were listed on the LSE and the ordinary shares were dual-listed on the RTS and the MICEX;
  • ABN AMRO Rothschild, Morgan Stanley International plc and Renaissance Securities Limited as joint global coordinators, joint bookrunners and joint lead managers and CJSC Gazprombank as co-manager in a US$1 billion IPO of shares and GDRs by OJSC Magnitogorsk Iron & Steel Works (MMK). The GDRs were listed on the LSE; the shares were dual listed on the RTS and MICEX;
  • US$1billion Rule 144A / Regulation S IPO of shares and GDRs by OJSC Pharmstandard. The offering was the first by a Russian pharmaceutical company to involve a London listing.;
  • Deutsche Bank and Goldman Sachs as the financial advisors in the US$3 billion pre-emptive rights offering and public placement of shares by JSC “OGK-3.” This was the first public placement of shares of a wholesale electricity generation company with a private strategic investor in the history of the Russian power industry;
  • US$768 million IPO of GDRs and listing on the LSE by Integra Group;
  • Credit Suisse, Goldman Sachs International and Renaissance Capital as Joint Global Coordinators and Joint Bookrunners in the US$370 million IPO and LSE listing of GDRs by JSC Sitronics;
  • US$600 million IPO of GDRs on the LSE by OAO Polymetal;
  • US$500 million offering of 7.335% loan participation notes due 2013 by the Bank of Moscow;
  • RUR5 billion offering of 7.25% secured fixed-rate notes due 2009 by Bank of Moscow, its first nondomestic Ruble bond offering;
  • US$130 million private placement of newly issued Tier 1 shares by JSC Bank “Probusinessbank”;
  • US$316 million Regulation S IPO of ordinary shares and concurrent dual listings on the RTS and the MICEX by open JSC Raspadskaya, the second-largest coking coal producer in Russia. This deal is the first IPO of a Russian coal company;
  • US$459 million Regulation S offering of ordinary shares dual-listed on the RTS and the MICEX by Joint Stock Company OGK-5, a wholesale producer of electric and thermal power in Russia. This is the largest Regulation S offering ever by a Russian company;
  • US$247 million IPO of Cherkizovsky Group Limited;
  • US$144 million IPO of ordinary shares of RAZGULAY Group OJSC;
  • OAO Gazprom in connection with the “liberalization” program for its shares and the conversion of its existing depositary receipt facility into the new Level I ADR program;
  • US$50 million pre-IPO convertible bond offering of Angara Mining Plc;
  • US$565 million IPO and listing on the LSE of shares in the form of GDRs of Trader Media East Limited;
  • US$300 million offering of 7.5% subordinated loan participation notes due 2015 issued by Bank of Moscow via an orphan vehicle;
  • US$130 million financing by Integra Group in connection with its acquisition of Uralmash-Drilling Equipment and VNI-IBT-Drilling Tools;
  • US$966.3 million public offering of shares and GDRs of OAO “NOVATEK” and listing on the LSE;
  • US$127 million Regulation S public offering of shares of JSC Scientific Production Corporation “Irkut” with listing on the RTS and the MICEX;
  • US$68.8 million IPO of shares of OAO Open Investments, a real estate development subsidiary of Interros;
  • US$3.75 billion monetisation by Access Industries, Inc. and Renova Holding Ltd. of their receivable of shares in BP p.l.c.;
  • various offerings by OAO Vimpel-Communications including:
       
    • US$2.0 billion Rule 144A/Regulation S offering of loan participation notes. The notes were offered in two tranches of US$1.0 billion each consisting of an 8.375% note due in 2013 and a 9.125% note due in 2018. The offering represents the largest US dollar-denominated bond issue by a Russian corporate issuer to date;
    • US$105 million secondary offering of shares;
    • US$250 million Rule 144A/Regulation S offering of 10.45% loan participation notes due 2005;
    • US$450 million Rule 144A/Regulation S offering of 10% participation notes due 2009;
    • US$300 million Rule 144A/Regulation S offering of 8.375% loan participation notes due 2011;
    • US$300 million Rule 144A/Regulation S offering of 8% loan participation notes due 2010;
    • US SEC-registered combined offerings of US$75 million senior convertible notes and US$95 million equity by VimpelCom B.V. (Russia), a subsidiary of OAO Vimpel-Communications, with a listing on the New York Stock Exchange (NYSE). This was the first listing of debt securities by a Russian company on the New York Stock Exchange; and
    • of shares raising US$110 million. The IPO was the first US SEC-registered offering by a Russian issuer and the first listing of a Russian company on the New York Stock Exchange since the Russian Revolution of 1917;
  • US$300 million offering of 8% guarantee notes due 2008 by MMK Finance S.A., an affiliate of Russia-based OJSC Magnitogorsk Iron & Steel Works;
  • US$250 million offering of 8% loan participation notes due 2009, a US$300 million offering of 7.375% loan participation notes due 2010 and a US$300 million subordinated debt offering of 7.5% loan participation notes due 2015, each issued by Bank of Moscow via an orphan vehicle;
  • US$127 million Regulation S placement of shares of OAO Sibneft;
  • US$40 million Rule 144A/Regulation S offering of common stock of Khanty Mansiysk Oil Corporation (KMOC), and US$55 million debt financing of Khanty Mansiysk Oil Corporation (KMOC) for its acquisition of Khantymansiyskneftegazgeologia;
  • Rule 144A/Regulation S equity offering by RAO Gazprom with listing on the LSE;
  • US$22.5 million Rule 144A/Regulation S offering of common stock and ADSs by Mosenergo. This transaction was the first successful capital-raising effort by a Russian company in the US capital markets;
  • establishment and maintenance of Level Two ADR program with listing on the NYSE by OAO Rostelecom, which was the first Level Two ADR program by a Russian company;
  • establishment of a GDR program for bonds issued by the Ministry of Finance of the Russian Federation;
  • establishment of an unsponsored GDR program by National Reserve Bank for common stock of RAO Unified Energy Systems of Russia (RAO UES) and US$450 million placement of depositary receipts in two tranches; and
  • establishment and maintenance of Level One ADR programs for a number of regional fixed-line telecommunications operators and regional electric utility companies.

Project Finance

  • project financing of an international fiber optic cable linking Italy, Turkey, Ukraine and the Russian Federation;
  • establishment of a joint venture between Heerema Oil & Gas Development B.V. with RAO Gazprom to construct an underwater pipeline crossing the Baydaratskaya bay;
  • financing of the initial phase of the Komi Aluminium Project;
  • refinancing of construction of methanol production assets of OAO “Togliattiazot”;
  • proposed development and project financing of an oil and gas condensate deposit in Western Siberia by a private investor-proposed project to lay a fiber optic cable across Siberia to the Far East using a right of way over high-voltage power lines; and
  • proposed construction and financing of a gas pipeline linking Turkmenistan, Azerbaidzhan, Georgia and Turkey.

Dispute Resolution

  • the nine international oil companies comprising the Offshore Kazakhstan International Oil Consortium in negotiations and pre-arbitral proceedings with the Republic of Kazakhstan regarding appraisal and development of the Kashagan field;
  • LCIA arbitration in London in relation to a US$1.6 billion multi-jurisdictional dispute concerning the control of a Russian metals producer;
  • HKIAC arbitration in Hong Kong for a Russian mining corporation in connection with an overseas mining operation;
  • multi-billion dollar dispute in the English and BVI Courts arising out of a dispute over the participation interests in a major Russian oilfield development project;
  • LCIA arbitration representing shareholders in a successful defence of claims totalling more than US$28 billion against a large Russian oil company arising out of a failed share purchase agreement. This was reported by American Lawyer as the world's largest arbitration in 2007;
  • multi-billion dollar dispute between two Russian parties in the English Courts concerning interests in oil and aluminium companies;
  • LCIA arbitration involving multi-party and parallel arbitrations under the LCIA rules in London and elsewhere for a Russian client, involving factories in Ukraine;
  • multi-jurisdiction litigation in BVI, Cyprus and Russia arising out of a Russian joint venture dispute; and
  • LCIA arbitration (parallel Cypriot and English proceedings) involving a US$1 billion dispute under a shareholders' agreement concerning a major Russian business.

Mergers & Acquisitions and Joint Ventures

  • the shareholders of Megapolis, one of Russia’s leading consumer goods distributors focusing on tobacco and beverages, in the sale of two separate 20 percent equity interests in Megapolis Distribution BV, to Philip Morris International Inc., and Japan Tobacco Inc. The transaction has been valued at $1.7 billion;
  • ICT Group, a Russian group of private investors, in connection with the establishment of a joint venture with Oleg Miserva to develop modern manufacturable coal mining production in the Far East of Russia and to export coal, including entry into acquisition and shareholders' agreements;
  • a Russian investment company in the sale of a partial stake in Russia Forest Products (RFP), Russia’s second-largest forestry company, to Russia-China Investment Fund (RCIF), a fund established jointly by the Russian Direct Investment Fund (RDIF) and China Investment Corp (CIC), and entry into a new shareholders' agreement;
  • Vanistelroy Holdings Ltd as seller of 100 percent shares in AvtoSpetsCenter Group, a major Russian car dealership chain;
  • Valeant Pharmaceuticals International, Inc. in its acquisition of the shares in LLC Ekomir Pharma and certain related assets;
  • the companies controlled by co-founders of Vkontakte.ru, Russia’s largest social network website, in the sale of an indirect 48 percent interest in Vkontakte.ru to UCP Securities Limited;
  • Alfa Group investment company in connection with its US$1.8 billion tender offer for an approximately 48 percent stake in Orascom Telecom Holding S.A.E.;
  • Assicurazioni Generali in the English and Russian law aspects of its $3.3 billion acquisition of the portion of its joint venture with PPF Group that Generali does not already own;
  • Marazzi Group and the Permira funds in the approximately $1.5 billion sale of the Marazzi Group to Mohawk Industries, Inc. The Marazzi Group is a leading manufacturer and marketer of ceramic tile in Russia, the United States, Italy, France and Spain;
  • Alfa-Access-Renova (AAR) in connection with the $56 billion sale of TNK-BP to Russian state-owned oil company Rosneft. This deal was awarded “M&A Deal of the Year” at the 2014 IFLR European Awards;
  • Renault-Nissan Alliance on a series of matters starting in 2008 relating to its investments into Avto VAZ, the leading Russian car manufacturer, including:

    • the strategic acquisition by Renault of a 25 percent stake in AvtoVAZ, and the subsequent recapitalization of AvtoVaz by its shareholders via contribution of equipment, technology and cash with the total value over €950 million; and
    • the creation of a joint venture between Renault-Nissan Alliance and Russian Technologies, giving Renault-Nissan Alliance control over AvtoVaz. As part of the deal, Renault and Russian Technologies contribute to the joint venture their respective shareholdings in AvtoVaz, and Russian Technologies restructured its outstanding $1.7 billion loans with AvtoVaz. The total value of the joint venture is estimated to exceed $3 billion;
  • Millhouse in connection with a proposed investment in and a shareholders’ agreement regarding OAO GMK Norilsk Nickel, the world’s leading producer of nickel and palladium. Millhouse is acquiring a minority stake as part of the settlement of a long-running shareholder dispute between existing shareholders Rusal and Interros;
  • Altimo in connection with its acquisition of $3.6 billion of common shares in VimpelCom Ltd., the New York Stock Exchange-listed mobile telecom operator, from Weather Investments II. Altimo has increased its ownership in the company to 40.5 percent as a result of the transaction;
  • LoneState Assets Limited in the sale of a 60 percent stake in the holding company of the Kolmar Group, one of the Russian Federation’s leading coal producers, to Montlink Limited (a joint venture between Gunvor Group Ltd and Volga Resources) and entry into a shareholders’ agreement;
  • Svoboda Corporation (a holding company for a group of private investors) in an acquisition of a controlling interest in the holding company for Rive Gauche Group, a leading Russian perfume and cosmetics retailer, for cash and shares consideration, from Finstar Group, and entry into a shareholders’ agreement;
  • Nafta Moskva, a Russian investment group, in connection with a multibillion-dollar acquisition of a significant stake in OJSC Uralkali, a major global producer of potash located in Russia with GDRs listed on the London Stock Exchange. The acquisition involved complex put and call arrangements. The acquisition was financed by VTB Capital plc, a London-based investment arm of Russia’s leading state controlled bank VTB;
  • the owners of the Paterson supermarket chain in its sale to X5 Retail Group for approximately US$189.5 million in cash and the assumption of US$85 million in debt. Paterson is a private supermarket chain of 82 stores located in Moscow, the Moscow region, St. Petersburg, Kazan and other cities of European Russia and Urals;
  • a remaining shareholder in Lenta in connection with the acquisition by TPG and VTB Capital of an approximately 35 percent stake in Lenta Ltd., and the new shareholders' arrangements to govern the management of Lenta and regulate the relationship between them;
  • JSC “Mangistaumunaigaz” (MMG), one of Kazakhstan's largest independent oil producers:
    • and its sole common shareholder Central Asia Petroleum Ltd. in connection with the sale of a 100 percent interest in MMG to a consortium formed by China National Petroleum Company and JSC NC “KazMunaiGas” (KMG) for cash consideration of US$ 3.3 billion;
    • in connection with the spin-off and sale of MMG's downstream business, consisting of the assets of the Pavlodar Petrochemical Plant and a 58 percent interest in JSC “PNHZ”, to KMG for cash consideration of US$ 1.2 billion. The sale was completed in August 2009; and
    • in connection with the structuring and negotiation of a multi-hundred million US dollar pre-export finance facility with an international bank. The transaction was completed, and the facility was fully drawn upon, in August 2009; and
  • US$1.26 billion acquisition of shares and ADRs of OJSC Polyus Gold, a leading gold mining company in Russia, by Nafta Moskva, an asset management company controlled by Mr. Suleiman Kerimov, from Interros, a Russian group controlled by Mr. Vladimir Potanin;
  • acquisition of shares and GDRs of OJSC PIK Group, a Russian real estate developer listed in Moscow and London, from its two principal shareholders, by Nafta Moskva;
  • the initial acquisition of 10 percent of the share capital of Kamaz Incorporated, Russia’s major heavy-duty trucks manufacturer, by Daimler AG, the world’s largest truck manufacturer, from Russian investment company Troika Dialog; and the subsequent increase of its stake in Kamaz by Daimler AG; together with forming the strategic partnership between Daimler AG and Kamaz;
  • sale of the substantial stake in Ile de Beauté chain (Russia) to Sephora S.A. (France) by the controlling shareholders of Edinaya Evropa-S.B. (a holding company in Russia);
  • sale by Itera Group, a major Russian independent gas producer, of its oil assets;
  • side-by-side investment by JC Flowers and C.V. Starr & Co., Inc. via an acquisition of a 19.9 percent stake in Joint Stock Commercial Bank “Investment Trade Bank” (open joint stock company), a mid-size Russian bank;
  • US$810 million acquisition of Sparrows Point LLC from Luxembourg-based ArcelorMittal by OAO Severstal. All three companies are steel manufacturers;
  • strategic acquisition by Renault of a 25 percent stake in the leading Russian car manufacturer, AvtoVAZ. AvtoVAZ, the maker of Lada cars, is the single largest carmaker in Russia. Renault is a global automotive manufacturer and together with Nissan, its strategic partner in the Renault Nissan Alliance, is the fourth biggest manufacturer worldwide; and the subsequent recapitalization of AvtoVaz by its shareholders via contribution of equipment, technology and cash with the total value over €950 million;
  • US$4.3 billion acquisition of Golden Telecom by Open Joint Stock Company Vimpel-Communications via a tender offer;
  • sale of a 51 percent stake in OJSC DIXY GROUP, one of Russia's largest food and household supply retailers, by an individual beneficial shareholder to Trade Company Megapolis, a major Russian FMCG distributor;
  • US$116 million purchase of OJSK Kreker, a biscuit and cereals manufacturer operating six manufacturing plants in Russia, by Kellogg Company. Kellogg acquired 89 percent of the shares in Kreker from Kreker's principal shareholders. This transaction marked Kellogg's first investment in Russia;
  • creation of the 50:50 joint venture between Sistema-Hals, a leading diversified company in the Russian and CIS real estate market, and Apsys, a leading European developer and asset manager specialised in the real estate retail industry. The joint venture will carry out retail development projects jointly selected by the parties, and its first investment is the acquisition from Sistema-Hals of 100 percent of the shares of the company holding Leto City, a retail and entertainment centre under construction located in St. Petersburg;
  • US$620 million acquisition of a 50 percent interest in Ilim Holding by International Paper, and subsequent 50:50 joint venture (Ilim Group) with Ilim Holding, valued at US$1.6 billion;
  • US$136 million sale of a 76 percent stake in Ukrainian Innovation Bank (Ukrinbank) to Bank Hapoalim of Israel;
  • US$2.2 billion acquisition of selected production assets in Ukraine, including the Sukhaya Balka Iron Ore Mining and Processing Complex, the Dnepropetrovsk Iron and Steel Works and three coking plants by Evraz Group S.A.;
  • US$677 million sale of Sandora, the Ukrainian fruit juice and wine maker to a joint venture of PepsiAmericas, Inc. and PepsiCo, Inc.;
  • pre-emptive rights offering and public placement of ordinary shares of 38 percent of the charter capital of JSC OGK-3 and in the sale of a majority of this stake via a tender offer to OAO Norilsk Nickel;
  • sale of a remaining 50 percent stake by three individual shareholders of JSC Trade House KOPEYKA to URALSIB Financial Corporation in a going-private transaction;
  • sale of a stake in a major Moscow real estate development project by PIK Group to Meridian Capital CIS Fund, together with the subsequent creation of a joint venture to manage this development;
  • acquisition of an 90 percent stake in A. Korkunov by Wm. Wrigley Jr. Company;
  • US$104 million in the sale of 100 percent of its share capital of JSCB “Prestige” of Ukraine to Erste Bank der Sparkassen AG, the Austria-based banking group;
  • US$18 billion proposed acquisition of Severstal by Arcelor;
  • US$550 million sale of Independent Network Television Holding Limited, the holding company of the TV3 Russian television network by Act III Investors LLC to Prof-Media Management LLC;
  • US$314 million sale of a 75 percent stake to Nordea Bank AB by Joint Stock Bank Orgresbank;
  • sale of a 75 percent stake in Extra M by its share holders to Promsvyazcapital; and the subsequent sale of the remaining 25 percent to Promsvyazcapital;
  • US$82.5 million acquisition by Renaissance Capital of a 50 percent share in Ukraine's largest dairy group;
  • acquisition of a majority stake in Rambler Media Limited by Prof Media;
  • US$23 million acquisition of Rambler TV by Prof Media;
  • acquisition of a controlling stake in ZAO Central Partnership by ZAO Prof Media;
  • sale of a 93.5 percent stake in Joint Stock Post Pension Bank Aval by its majority shareholders to Raiffeisen International Bank-Holding AG;
  • US$625 million acquisition by Access Industries, Inc. of 25 percent plus one share interest in OAO Svyazinvest;
  • US$733 million sale by SUN Trade (International) Ltd., a private investment group, of its entire stake in SUN Interbrew Ltd. to Interbrew S.A.;
  • US$400 million sale of Russian brewing business by Bravo Holdings Limited to Heineken;
  • acquisition by OAO Rosneftegas of 10.7 percent stake in OAO Gazprom;
  • proposed participation of OAO Gazprom in an auction sale of Yuganskneftegaz;
  • acquisition of substantially all of the assets of Rouge Industries, Inc. and Rouge Steel Company by OAO Severstal, and its U.S.-based affiliate, Severstal North America, Inc.;
  • acquisition by RUSAL Group of a 20 percent stake in Queensland Alumina, Limited from Kaiser Aluminum Corporation;
  • US$341 million sale of a 55.5 percent stake in Stillwater Mining Company to MMC Norilsk Nickel;
  • acquisition of Mazeikiu Nafta AB, the largest oil refinery in the Baltic countries, by OAO Yukos Oil Company;
  • sale of OAO Gold Mining Company Mayskoye, a license holder of the Mayskoye gold mine;
  • management buy-out of Troika Dialog by its management from Bank of Moscow, one of the first management buy-outs;
  • acquisition by Columbus Nova Capital of controlling interest in Moscow CableCom, a Nasdaq listed Delaware company that owns the biggest cable franchise in Moscow;
  • acquisition of a 26 percent interest in a major Russian commercial bank;
  • acquisition by Alfa Capital Partners, a private equity fund, of a majority stake in OAO Kreker;
  • purchase of a majority stake in OAO UralSibBank, a Russian commercial bank;
  • sale of Saint Springs Water Limited by Saint Springs Investments Limited to Nestle Waters;
  • acquisition of Troika Dialog, a leading broker/dealer and investment banking firm, by Bank of Moscow;
  • acquisition of AO Svetogorsk, a Russian paper and pulp mill, by International Paper;
  • acquisitions by Khanty Mansiysk Oil Corporation (KMOC) of Khantymansiyskneftegazgeologia and an interest in Anderman/Smith International-Chernogorskoye;
  • acquisition of the Russian assets of ICN Pharmaceuticals, Inc. by a group of investors;
  • tender offer by AO Koloss for 51 percent of the outstanding shares of common stock of Krasniy Oktyabr (Red October), Russia's premier chocolate and candy manufacturer, which was the first public tender offer in Russia; and
  • acquisition of a majority interest in an outdoor advertisement business with extensive operations in Russia and Eastern Europe by News Outdoor Limited.