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Akin Gump and Cleary Gottlieb Advising on Proposed Sale of Stake in Mail.ru Group to MegaFon

Akin Gump and Cleary Gottlieb Advising on Proposed Sale of Stake in Mail.ru Group to MegaFon

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Akin Gump is advising USM Holdings, a leader in the Russian-speaking Internet market, and its subsidiaries, in the proposed sale of its stake in Mail.Ru Group Limited to PJSC MegaFon. Cleary Gottlieb is advising MegaFon, which announced its board decision to call a shareholder meeting to approve the acquisition.

Under the terms of the announcement, MegaFon would acquire 11.5 million Class A shares and 21.9 million ordinary shares in Mail.Ru from New Media and Technology Investment LP, New Media Technologies Capital Partners Limited and Ardoe Finance Limited, subsidiaries of USM Holdings, for a total consideration of USD 740 million, including a deferred element. The transaction is subject to receipt of Russian antimonopoly approval and fulfillment of other conditions.

The Akin Gump team advising USM Holdings and its subsidiaries is led by Relationship Partner Artem Faekov and Corporate Partner David Sewell, supported by Corporate Partner Harry Keegan and Corporate Associate Rob Whittle, all in Akin Gump’s London office.

The Cleary Gottlieb team includes Partners Murat Akuyev and Yulia Solomakhina in Moscow; and in London, Partner Raj Panasar and Associate Richard Watkins.

Russian Knowledge Partner

Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys that enables thus providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

Firm's website: www.epam.ru


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