Clifford Chance has advised PJSC MMC Norilsk Nickel, a diversified mining and metallurgical company that is the world's largest producer of refined nickel and palladium, on the sale of its equity interest in the company which owns the Legion TI Business Center in Moscow to RCP Investments II Ltd. for approximately USD 100 million. Dentons advised the buyers on the deal.
Legion TI Business Center is an A-class office complex located on Bolshaya Tatarskaya Street in Moscow. RCP Investments II Ltd is a company owned by UFG Real Estate funds that is focused on investments in premium class real estate in Russia.
“Exit from non-core assets and focus on the development of Tier-1 assets are the key pillars of the company’s corporate strategy," said Elena Kondratova, Vice President of Nornickel. "We are pleased that we have been able to secure this important transaction amid challenging times for the real estate market in Moscow. The proceeds from the transaction will be used for the company’s current projects.”
The Clifford Chance Moscow team was led by Partner Marc Bartholomy with support from Counsel Nick Diakoumis, Senior Associate Anna Krutik, and Associate Kamilla Shikhametova.
The Dentons’ team was led by Moscow Partner Sergey Trakhtenberg and included Moscow Of Counsels Vladislav Bromberg and Boris Bruk, as well as Associate Tatiana Indisova.