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DLA Piper and Cleary Advise on Sale of Elektrozavod and Elektrokombinat to Sistema and Sberbank Joint Investments

DLA Piper and Cleary Advise on Sale of Elektrozavod and Elektrokombinat to Sistema and Sberbank Joint Investments

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DLA Piper has advised Elektrozavod Group, a Russian manufacturer of transformer equipment, on the RUB 30.5 billion sale of a 94.01% stake in JSC Elektrozavod and 100% in LLC Elektrokombinat to LLC Megapolis Invest, a joint venture between Sistema and Sberbank Investments. Cleary Gottlieb Steen & Hamilton advised the buyers on the deal.

Sistema and Sberbank Investments provided equity financing to Megapolis Invest in the amount of RUB 11 billion and RUB 3.5 billion, respectively. Additionally, Sberbank Investments provided the purchaser with debt financing of RUB10.2 billion.

According to DLA Piper, the aim of the transaction is to create “Russia’s leading manufacturer of transformer equipment and implement a real estate development project on Elektrozavod Group’s land plots totaling 19 hectares near the Elektrozavodskaya metro station in Moscow.”

DLA Piper’s Moscow-based team was led by Partners Constantine Lusignan and Igor Venediktov and Counsel Alexey Kolegov and included Legal Director Maria Shevchenko, Senior Associates Zaurbek Timaev and Julia Zenova, and Associate Artem Pravdin.

Cleary Gottlieb Steen & Hamilton's team included Partner Yulia Solomakhina and Associates Vladislav Miroshnichenko and Irina Bratishkina.

DLA Piper at a Glance

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, helping clients with their legal needs around the world. We strive to be the leading global full-service law firm by delivering quality and value to our clients. With practical and innovative legal solutions, we help our clients succeed.

In Central and Eastern Europe (CEE), DLA Piper continues to grow and now employs more than 320 lawyers, including 46 partners across its six offices in Austria, the Czech Republic, Hungary, Poland, Romania and Slovakia. With our global set-up and established relationship firms across all other CEE jurisdictions, we are among the largest and most experienced international law firms in the region. Through our experience gained advising on a variety of high-profile projects and the long-term relationships we have established with our clients, we have built a reputation as a leading business law firm across CEE.

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