Sergey Chapaev focuses on both M&A and capital markets transactions. He has experience advising clients in the financial, telecom, IT, oil and gas, heavy industry, retail and logistics sectors, among others. In addition to his transactional corporate practice, Mr. Chapaev has been involved in advising clients on arbitrations relating to corporate disputes. He has been recognized in the Russia private equity section of Chambers Europe.
Mr. Chapaev’s recent experience includes advising:
- Horvik Limited in relation to its preconditional mandatory offer to acquire Trans-Siberian Gold plc, an AIM-quoted gold producer;
- Kismet Acquisition One, a special purpose acquisition company, in its $1.9 billion initial merger with Nexters Global Limited, the first-ever de-SPAC transaction involving a Russian company. As a result of the merger, Nexters will become a publicly traded company;
- Fortiana Holdings Limited in connection with its US$1.5 billion acquisition of Highland Gold Mining Limited, an AIM-quoted gold producer, comprising an initial US$585 million acquisition of a 40% interest, the U.K.'s first-ever preconditional mandatory bid for the remaining stake, delisting and compulsory squeeze-out of minority shareholders;
- Vesper Group in connection with its sale of a 50% interest in two project companies to Sberbank Investments, and the related shareholder arrangements;
- National Atomic Company Kazatomprom and Sovereign Wealth Fund Samruk-Kazyna (as selling shareholder) in Kazatomprom’s IPO of GDRs and shares. The shares and GDRs are listed on the Astana International Exchange (AIX) recently launched by the Astana International Financial Centre — the first-ever listing on the AIX;
- PIK Group in its US$255 million cash tender offer for global depositary receipts listed on the London Stock Exchange and the subsequent cancellation of its U.K. listing;
- DIXY Group in its US$150 million repurchase of a 20% stake in DIXY Group from funds managed by Prosperity Capital Management Ltd. in a going-private transaction;
- National CinemaChain in its sale of Cinema Park, a leading movie theater operator in Russia, to entities affiliated with A&NN Investments;
- Renault-Nissan B.V. in a major financial and capital restructuring of AvtoVaz, a Russian producer of automobiles, for a total value of RUB85 billion (€1.2 billion), which included:
- the acquisition of 100% of AvtoVaz by way of squeeze-out of all remaining minority shareholdings RUB4.6 billion (€61 million);
- a buyback of AvtoVaz shares from minority shareholders for RUB18.1 billion (€240 million), structured by way of a mandatory tender offer;
- significant deleveraging of AvtoVaz by conversion of existing debt of RUB61.4 billion (€820 million) into new equity by way of a closed subscription; and
- a capital injection of approximately RUB26.1 billion (€350 million) into AvtoVaz by way of open subscription;
- Horus Real Estate Fund I in the acquisition of the Morton Group, the largest residential real estate developer in Russia, and the subsequent sale of the Morton Group to PIK Group; and
- Svoboda Corporation in various acquisitions, creations of joint ventures and corporate reorganisations in relation to various retail businesses.
In addition, Mr. Chapaev has provided corporate counseling to major international corporations, including the Generali Group and Daimler, in connection with their investments in Russia’s leading companies.