The Moscow office of Baker & McKenzie has acted as Russian counsel for Siemens Aktiengesellschaft on the corporate and commercial aspects of its global joint venture with Mitsubishi Heavy Industries, Ltd. (MHI). The announcement from Baker’s Moscow office follows the December announcement by the firm’s Kyiv office that it had acted as Ukrainian legal counsel to Siemens Ukraine on on the deal.
As explained at the time, with the joint venture both partners are forming a globally operating complete provider for plants, products and services for the iron, steel and aluminum industry.
According to the agreement signed in May 2014, MHI will hold a 51-percent and Siemens a 49-percent stake in the joint venture. The joint venture started operations in January 2015. Both partners are contributing their metallurgical industry activities to the joint venture. The new joint venture integrates Mitsubishi-Hitachi Metals Machinery, Inc. — an MHI consolidated group company with equity participation by Hitachi, Ltd. and IHI Corporation. The new joint venture with approximately 9,000 employees will focus fully on business with iron, steel and aluminum-producing industry.
The Moscow Baker & McKenzie team was led by Partner Sergey Krokhalev with key input from Associates Denis Ezhov and Dana Sabayte.
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