Category: Russia

Andrey Bastrakov and Alexander Mandzhiev have been promoted to Partner at Egorov Puginsky Afanasiev & Partners.

According to EPAM, white-collar crime specialist Bastrakov has over 15 years of experience. He holds a degree in criminal proceedings from the Lomonosov Moscow State University’s Law School.

Former Counsel Mandzhiev “specializes in providing legal counsel on international M&As involving Russian oil & gas, telecommunications, and trading companies.” He has an LLM from the University of Chicago Law School and a PhD from the Lomonosov Moscow State University. Before joining EPAM in 2016 he spent almost ten years with Cleary Gottlieb Steen & Hamilton.

DLA Piper has advised Taxiaggregator and its founder on the sale of the company to Qiwi. Squire Patton Boggs reportedly advised Qiwi on the deal.

Taxiaggregator is a Russian software-as-a-service platform that provides payment solutions and data analytics tools for taxi companies and taxi drivers. Qiwi is a provider of payment and financial services in Russia and other CIS countries.

According to DLA Piper, “the transaction falls within Qiwi’s strategy to further develop its value proposition in the payment segment for self-employed persons and to create a full-cycle taxi ecosystem.”

“I’m excited to become a part of the Qiwi team and to lead the project to new heights,” founder and CEO of Taxiaggregator Alexander Merzlikin commented. “The market is far from saturation and there are plenty of opportunities to make our unique offering even better. Favorable market tailwinds, our expertise, and infrastructure allow us to set ambitious goals. It is extremely important to have such a prerequisite and the client orientation we share with Qiwi, in order to multiply the business several times.”

DLA Piper’s team included Moscow-based Partner Leo Batalov, Legal Director Andrei Sheetkin, Associate Maria Sarycheva, and Paralegal Alexandra Khvorostyanova and St. Petersburg-based Legal Director Roman Golovatsky and Associate Igor Matveyev.

Former Senior Associate Nadezhda Minina has been promoted to Partner in Nektorov, Saveliev & Partners’ corporate practice.

According to NSP, “Nadezhda represents the interests of Russian and foreign companies of various economic branches, including IT, gold production, real estate and construction, agriculture, and the financial sector. In her new capacity, Nadezhda will be responsible for the development of the practice, supporting complex corporate transactions, and building business partnerships.” 

Nadezhda started her career with NSP, as a Legal Assistant, ten years ago. She was promoted to Associate in 2013 and Senior Associate in 2018. She holds an honors degree from the Faculty of Law of Moscow State University.

“I’m happy to be a partner of the [firm] where my professional career started,” said Minina. “I thank my colleagues for their trust. For over ten years I have been attracted by our team’s approach to solving the business problems of our clients in a comprehensive way and, if possible, to do a little more for them so as to make the world a better place.”

Baker Botts has advised Russia’s Sovcombank on its acquisition of the CIV Life insurance company from Talanx subsidiary HDI International.

Closing is expected in the first quarter of 2022, pending regulatory approval. Financial details were not disclosed.

Talanx is a German insurance group and is active in more than 150 countries. CIV Life was established in Russia in 2007, by Talanx AG. The company’s insurance products are sold through the distribution channels of partner Citibank Russia. CIV Life generated gross premium income equivalent to around EUR 83 million in 2020, according to a company press release.

Baker Botts’ team included Moscow-based Associate Igor Kungurov, London-based Senior Counsel Paul Exley, and Special Counsel Graham Brough.

Baker Botts did not reply to our inquiry on the matter.

DLA Piper has advised Breffi on a RUB 750 million investment from Elbrus Capital. O2 Consulting reportedly advised Elbrus Capital on the deal.

Breffi is a Russian omnichannel pharmaceutical marketing company. Founded in 2012 by Evgeniy Gordeev and Irina Shramova, both former employees of AstraZeneca, Breffi focuses on the promotion of pharmaceutical brands primarily through the doctors’ community via remote and digital channels. Breffi’s revenue in 2021 exceeded RUB 500 million.

Elbrus Capital is a Russia and CIS-focused private equity firm.

According to DLA Piper, “the funding received from Elbrus Capital will be used to further develop Breffi’s operations, including the scaling up of its services, expansion into an adjacent market, and the enhancement of IT products development.”

DLA Piper’s Moscow-based team was led by Partner Leo Batalov and included by Legal Director Andrei Sheetkin, Associate Alexandra Braterskaya, and Paralegal Alexandra Khvorostyanova.

Noerr has announced at, as of January 19, its Russian office will be running independently as Arno Legal, working in cooperation with Noerr.

According to the Noerr, Stefan Weber, Viktor Gerbutov, Vyacheslav Khayryuzov, Olga Mokhonko, and Maxim Vladimirov will stay with the new firm, adding that Arno Legal will “work closely with Noerr going forward. Little will change for Noerr’s clients.”

“The close cooperation with Noerr guarantees seamless continuation of client work,” said Bjorn Paulsen, Noerr Partner responsible for the Moscow office since 2011. “The new partners of Arno Legal have all worked for Noerr in Moscow for over ten years, are well integrated into the cross-border teams, and have extensive experience with major projects in Russia and the CIS countries,” added Stefan Weber, head of Noerr’s Moscow office to date.

According to Noerr, “Bjorn Paulsen will now head up the firm’s new Russia Desk from Hamburg and Berlin and ensure smooth collaboration with the new cooperation partner.”

“In Russia, we concluded that due to the altered market conditions, a cooperation makes the most sense going forward,” added Co-Managing Partner Torsten Fett. “The continuation of the office by the former Noerr team will still guarantee a high standard of service and quality.”

Alrud has advised Gazprom Neft on the sale of a 50% equity stake in Meretoyakhaneftegaz, a subsidiary of Gazprom Neft, to Lukoil within the establishment of a joint venture for the development of an oil and gas cluster in the Nadym-Pur-Taz region of the Yamalo-Nenets Autonomous District.

According to Alrud, the “completion is planned for the year 2022, following the obtainment of a relevant permit from the Federal Antimonopoly Service, and also after the fulfillment of a number of other conditions.”

Alrud’s team included Partner Andrey Zharskiy, Counsel Oleg Ezhov, Senior Attorneys Alexander Shipilov and Irina Cherdintseva, Attorney Natella Kortiashvili, and Senior Associate Ksenia Erokhina.

DLA Piper is advising Russian coal mining company Raspadskaya on its demerger from steelmaker Evraz. Linklaters is advising Evraz on the transaction.

According to DLA Piper, “Raspadskaya currently provides approximately 70% of Evraz’s metallurgical coal supply requirements needed to support its operations. The demerger will result in the creation of two distinct publicly listed businesses with leading positions in their respective fields.” 

Raspadskaya is listed on the Moscow Exchange, while Evraz – a global steel, iron ore, and vanadium producing company operating mainly in Russia – is listed on the London Stock Exchange.

“The demerger will be effected by Evraz making an interim in specie distribution of the shares it directly holds in Raspadskaya (being approximately 90.9% of the total ordinary shares in Raspadskaya) to Evraz shareholders,” DLA Piper reported.

“In order to generate sufficient distributable reserves to effect the demerger, Evraz proposes to capitalize the sum of USD 8.2 billion currently standing to the credit of its profit and loss reserve by way of issuing bonus shares, and then to subsequently reduce its share capital by canceling such bonus shares,” Linklaters informed. “The demerger is a Class 1 transaction under the UK Listing Rules and is subject to approval by Evraz shareholders as well as being contingent on the capital reduction becoming effective.”

The DLA Piper team was led by Partner Julien Hansen and included Partner Igor Venediktov, Counsel Alexander Klochkov, Senior Associates Irina Samoylova and Zaurbek Timaev, and Associates Yulia Berezina and Alexander Mysov.

The Linklaters team was led by London-based Partner Hugo Stolkin and included Partner Rachel Barrett and Associate Thomas Bishop.

Rybalkin, Gortsunyan & Partners has advised Beijing-headquartered urban mobility technology company Didi on expanding in the Russian market.

Didi is a technological company in the urban mobility sector with over 500 million users in 18 countries of Asia, Latin America, Africa, and Eurasia. The company offers taxi-hailing, food delivery, car, scooter, and limousine rental, bus service, payment services, logistics services, and others. According to the firm, Didi has been operating in Russia since 2020, and its services are available in 38 cities across the country.

“Taxi services are an important part of our daily life, and it is gratifying to know that we have an opportunity to contribute to the development of this sector,” RGP Partner Ilya Rybalkin commented. “Given the difficult situation we are facing today because of pandemic restrictions, such a new player on the market is great news for Russia that has traditionally attracted many global investments.”

The RGP team is led by Rybalkin and includes Counsels Anastasia Konstantinova, Gayane Nadzharova, and Nato Tskhakaya and Associates Marina Abazyan, Maria Shaubert, and Anton Sheronov.

RGP did not respond to our inquiry on the matter.

Allen & Overy has advised Veon and VimpelCom on their RUB 70.65 billion sale of mobile network towers in Russia to Service-Telecom. Egorov Puginsky Afanasiev & Partners supported Service-Telecom in obtaining FAS clearance for the transaction, while Freshfields Bruckhaus Deringer reportedly advised Service-Telecom on the deal.

According to Allen & Overy, “Veon is a leading global provider of connectivity and internet services, and parent of VimpelCom, which operates in Russia under the Beeline brand. Service-Telecom is an operator of passive infrastructure across various regions in Russia.”

The transaction involves the full sale of the National Tower Company, a Veon subsidiary, which operates a portfolio of approximately 15,400 mobile network towers in Russia. According to the firm, VimpelCom will retain its active network infrastructure and the majority of its rooftop towers.

“The competition for telecommunications infrastructure as an asset class remains strong, including on the disposal of VimpelCom’s towers, with assets priced at attractive valuation multiples,” A&O global co-head of TMT Tom Levine noted.

A&O’s team was led by London-based Counsel Andrew Kenning and Senior Associate Eimear Coady and included Partners Tome Levine and Sara Pickersgill as well as Moscow-based Partner Anton Konnov and Senior Associate Aleksey Mareev.

EPAM’s team included Partner Anna Numerova and Senior Associate Ksenia Firsova.