Pranav L. Trivedi
Pranav L. Trivedi is head of Skadden’s London office and serves on the firm’s Policy Committee. His practice focuses on international corporate finance, including initial public offerings and privatisations, cross-border mergers and acquisitions, joint ventures and private equity.

Bio

Mr. Trivedi represents U.S. and Western European companies in corporate finance and M&A transactions involving companies throughout Eastern Europe, Russia and Central Asia.

Mr. Trivedi’s experience in corporate finance transactions includes advising:

  • JSC Gazprom (Russia) in its listing on the Singapore Stock Exchange effected by the introduction of up to 4 billion global depositary shares, representing up to 8 billion ordinary shares of JSC Gazprom. This was the first listing “by introduction” of depositary receipts on the Singapore Exchange, and the first listing by a Russian company on the Singapore Stock Exchange;
  • Credit Suisse, J.P. Morgan, VTB Capital, Deutsche Bank, UBS Investment Bank and TPG Capital BD as joint bookrunners in the US$1 billion initial public offering of global depositary receipts of Lenta Ltd. This is the first dual listing of GDRs on the London and Moscow Stock Exchange;
  • QIWI plc (Russia), a provider of electronic payment services, in its US$212 million initial public offering of American depositary shares (ADS) with a listing on the Nasdaq Global Select Market, and its listing of ADS on the Moscow Interbank Currency Exchange. QIWI plc is the first Russian company to complete an IPO under the U.S. JOBS Act, and the first foreign company to list on a Russian stock exchange;
  • Eurasia Drilling Company Limited (Russia), a provider of oil drilling services, in connection with its debut seven-year US$600 million 4.875% Rule 144A/Regulation S bond issue listed on the regulated market of the Irish Stock Exchange;
  • 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/Regulation 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;
  • the underwriters in a US$560 million SEC-registered secondary offering of preferred shares by Mechel OAO, a mining and metals company in Russia;
  • 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;
  • OJSC Pharmstandard in the US$1 billion Rule 144A/Regulation S IPO of shares and GDRs. The offering was the first by a Russian pharmaceutical company to involve a London listing;
  • OAO Polymetal in the US$600 million Rule 144A/Regulation S combined primary/secondary IPO of GDRs and ordinary shares. The GDRs were listed on the London Stock Exchange and the ordinary shares were dual-listed on the RTS and the MICEX; and
  • Access Industries, Inc. and Renova Holding Ltd. on a US$3.75 billion monetisation of their receivable of shares in BP p.l.c. pursuant to the TNK-BP merger.

Mr. Trivedi’s experience in mergers and acquisitions in Russia includes, among other matters, advising:

  • IBS Group Holding Limited (Russia), a provider of information technology services and products, in its reorganization through a scheme of arrangement executed through a court process in the Isle of Man. The transaction involved a cancellation of GDRs of IBS Group Holding listed on the regulated market of the Frankfurt Stock Exchange (Scheme Securities), and issued and outstanding shares of minority shareholders in IBS Group; and the transfer of ordinary shares in Luxoft Holding, Inc., a New York Stock Exchange-listed subsidiary of IBS Group Holding, to the holders of the Scheme Securities in consideration for the cancellation of the Scheme Securities;
  • CJSC Trade Company Megapolis (Russia), a distributor of tobacco and consumer goods, in the concurrent US$750 million sales of 20 percent stakes in its subsidiary, Megapolis Distribution BV, to Philip Morris International, Inc., and JT International S.A. (Switzerland);
  • 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.;
  • Marazzi Group and Permira Funds in the approximately US$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;
  • Altimo Holdings & Investments Ltd. (Russia) (a subsidiary of Alfa Group that owns interests in telecommunications companies) in connection with the US$30 billion merger of Open Joint Stock Company Vimpel-Communications (Russia) and Kyivstar G.S.M. (Ukraine) by their parent companies, Altimo and Telenor ASA;
  • Nafta Moskva, an asset management company controlled by Mr. Suleiman Kerimov, in a US$1.26 billion acquisition of shares and ADRs of OJSC Polyus Gold, a leading gold mining company in Russia, from Interros, a Russian group controlled by Mr. Vladimir Potanin;
  • Oleg Leonov (Russia) in the sale of his holding company Dixy Holding Limited (Cyprus), which owns an approximately 51 percent stake in OJSC Dixy Group (Russia), to Mercury Group (Russia); and
  • Lion Capital LLP, a private equity house, in its leveraged acquisition of OAO Nidan Soki, a Russian juice producer for US$420 million. This transaction was selected as “Russia Deal of the Year” by The Banker.

Notable transactions on which Mr. Trivedi has worked outside Russia include:

  • the government of the Republic of South Africa’s privatisation of Telkom SA Limited, the South African incumbent fixed-line telecommunications operator, conducted through an IPO of Telkom’s ordinary shares;
  • the privatisation of Telenor ASA, the Norwegian incumbent fixed-line telecommunications operator, conducted through an IPO of Telenor’s ordinary shares; and
  • the US$18 billion initial public offering of shares of Enel S.p.A., the Italian state-owned power company, which is one of the largest global privatisations to date.

Mr. Trivedi has been selected as a leading lawyer in Chambers Global, Chambers UK and Chambers Europe. Mr. Trivedi is a fluent Russian and Gujarati speaker.

Credentials

Education

  • J.D., Columbia Law School, 1991 (with honors)
  • B.A., Yale University, 1988 (summa cum laude)

Admissions

  • New York
  • District of Columbia

Languages

  • Russian
  • Gujarati

Pranav L. Trivedi

Partner, Corporate Finance; Mergers and Acquisitions; Private Equity
pranav.trivedi@skadden.com