Orrick, Herrington & Sutcliffe LLP recently advised Industrial Investors Group, a leading Russian industrial investment group, in the sale of its stake in Russia’s Far Eastern Shipping Company (FESCO) to Summa Group. The deal amount was not disclosed, but was financed in part by a US $800 million syndicated loan from Goldman Sachs, ING and Raiffeisen Bank.
FESCO, a Russian publicly traded transportation company, is one of the largest and oldest shipping businesses in Russia. It offers a full range of logistical services through a combination of shipping, rail, tracking and port services. FESCO’s key assets include Vladivostok Commercial Sea Port, large stakes in Russian railroad companies, a fleet of over 40 cargo and container ships, over 15,000 rail cars, and other assets in Russia and abroad.
The cross-border Orrick team was led by Washington, D.C., corporate partner Olga Sirodoeva and included assistance from Orrick lawyers in Washington, DC, New York, Moscow, London and Hong Kong.
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