Liniya Prava has announced that it advised the Government of the Russian Federation and Renaissance Capital on the February 29, 2016 shareholder’s agreement between the Russian government and non-state shareholders regarding the Vnukovo International Airport joint-stock company.
According to Liniya Prava, “the conclusion of the agreement is an important stage of the project for consolidation of assets of Vnukovo Airport in accordance with the decree of the President of the Russian Federation dated 1 August 2015. As a result of consolidation, a participatory interest of the Russian Federation in the charter capital of the joint-stock company Vnukovo International Airport (airport’s operator) will amount to 25.11695%, whereas a participatory interest of non-state shareholders will amount to 74.88305%. The conclusion of the shareholder’s agreement was preceded by more than 2.5 years of work.”
Renaissance Capital is a Russian-founded investment banking firm that operates in high-opportunity emerging and frontier markets and which has offices in Moscow, Lagos, Nairobi, Johannesburg, Dubai, and Istanbul, as well as London, New York and Nicosia. It has been part of Mikhail Prokhorov's ONEXIM Group since 2012.
Liniya Prava Managing Partner Andrey Novakovskiy was enthusiastic about his firm’s work on the matter, saying, “It is really prestigious for us to participate in such a high profile project, and we are grateful to the team of the Federal Agency for State Property Management and the team of Renaissance Capital for the opportunity."
Previously, Liniya Prava was retained to advise on the Vnukovo Airfield Infrastructure Development project (as reported by CEE Legal Matters on August 6, 2014).