Akin Gump has advised PJSC Lukoil on the sale of 100% of the shares in JSC Arkhangelskgeoldobycha Diamond Mining Company, one of Russia’s largest diamond miners, to the Otkritie Group. As reported previously, the buyers were advised by Skadden, Arps, Slate, Meagher & Flom.
The acquisition was for a consideration of EUR 1.45 billion. The transaction documents were signed in December 2016, and the deal was completed on May 24, 2017.
The transaction was carried out under Russian law, and has received both Russian antimonopoly approval and consent of the Governmental Commission for the Control over Foreign Investments and fulfilled a number of other conditions.
The Akin Gump team advising Lukoil was led by Moscow Corporate Partners Alexey Kondratchik and Natalia Baratiants, supported by Counsel Alexander Shalaev, along with Senior Counsel Alexander Trukhtanov and Corporate Counsels Andrey Kulikov and Arsen Khachikyan.
The Skadden, Arps team was led by Partner Alexey Kiyashko.