Written by Editor on 06 October 2014.
♦ Breaking BigLaw News ♦ Astana, Kazakhstan
Morgan Lewis has opened a new office in the Kazakhstan capital of Astana, formalizing its existing presence in the Central Asian country. The firm has operated and served its global clients in the region from Morgan Lewis’s Almaty office since 2012. Morgan Lewis lawyers in Kazakhstan handle a wide variety of corporate, investment, energy, finance, telecommunications, utilities and other business transactions—both within the country and the broader Central Asia and Caspian region—with an emphasis on energy, banking and capital markets projects. The firm recently served as English, U.S. and Kazakhstan legal adviser to Intergas Central Asia, the operator of Kazakhstan’s national natural gas pipeline system on a successful consent solicitation involving $600 million in Notes.
“Our presence in Astana allows us to provide important support for our clients and facilitates our interaction with the Kazakhstan government agencies that drive many of their projects,” said Firm Chair Jami McKeon. The office will be under the leadership of Aset Shyngyssov, who is also the Managing Partner of the firm’s Almaty office, and will initially host three resident lawyers. Mr. Shyngyssov has more than 15 years of experience handling complex transactions in a wide range of industries throughout Kazakhstan and Central Asia, and his presence in both offices enables their seamless cooperation and integration. “Although we have been working with our clients in Astana for years, a permanent office in the capital brings us closer to many of them, further enhancing our ability to serve both our existing and future clients,” Mr. Shyngyssov said. “ Both offices in Kazakhstan offer local and international clients access to a full range of legal services, with a focus on significant mergers and acquisitions, joint ventures, corporate finance, debt and equity capital markets transactions, and disputes. Morgan Lewis lawyers also advise on matters involving intellectual property, real property, tax, environmental law, competition law, anti-bribery compliance, and corporate governance, among other matters.
Written by Editor on 17 December 2013.
♦ Recent Deals ♦ Kazakhstan
Ashurst advised Citigroup Global Markets Limited, who acted as sponsor in relation to the sale by London listed miner Kazakhmys PLC (Kazakhmys), of its 50% interest in Ekibastuz LLP, the owner of Kazakhstan's biggest power station, and 100% of the issued share capital of Kazhydrotechenergo LLP to Samruk-Energo, a subsidiary of Samruk-Kazyna, the Kazakh sovereign wealth fund, which owns the other 50% interest in Ekibastuz LLP. Under the terms of the deal, Kazakhmys will receive net proceeds of about $1.3 billion in cash, subject to certain consents, approvals and conditions. This is a class 1 transaction for Kazakhmys under the listing rules. The Ashurst team was led by
corporate partner
Nicholas Holmes, assisted by counsel Caroline Chambers.
Written by John on 09 September 2013.
♦ Recent Deals ♦ Almaty, Kazakhstan, Moscow, Russia
The Kazakhstan, Moscow and Brussels offices of global legal practice Norton Rose Fulbright have advised Yildirim Group, a Turkish diverse holding group, on its planned $425 million acquisition of ferroalloy assets from OAO Mechel. The transaction was announced by Yildirim and Mechel on 1 August 2013. Subject to certain conditions, Yildirim Group will acquire the Voskhod Mining Plant in Kazakhstan, a modern chrome ore mine, and Tikhvin Ferroalloy Plant in Russia. The Plant produces up to 120,000 tons per annum of high-carbon ferrochrome that is used to produce stainless steel. With the addition of Mechel's ferroalloys assets, Yildirim Group will solidify its position as the world’s second largest producer of high-quality high carbon ferrochrome. The acquisition will boost Yildirim Group's production capacity to 2.5 million tons per annum. The deal was led by relationship partner Yerzhan Kumarov from the Kazakhstan office, with support in Kazakhstan from associates Yelena Manayenko and Avaskhan Asanaliyev. In Russia, relationship partner Anatoly Andriash and Dinara Dorizo led on the Russian aspects of the transaction. Partner Nick Dingemans led the English law aspects of the transaction with associate William Stroll. Christian Filippitsch and Cora Wadsworth of the Brussels office provided competition advice. Yerzhan Kumarov, managing partner of Norton Rose Fulbright Kazakhstan practice commented: “This was a complex multi-jurisdictional transaction that called on our experience throughout Kazakhstan and Russia as well as a number of other jurisdictions. Together with Turkish firm Erdem & Erdem, our multi disciplined team advised Yildirim on Kazakh and Russian due diligence, European, Russian and Kazakh competition issues and on the successful negotiation of complex English law transaction documents.” The deal is subject to receipt by the parties of certain governmental approvals in Russia and Kazakhstan, including the approval of the Russian Federal Anti-Monopoly Service and the Kazakhstan Anti-Monopoly Agency. The Kazakhstan and Russian offices of Norton Rose Fulbright are currently advising on applying for these approvals.
Written by John on 04 September 2013.
♦ Breaking BigLaw News ♦ Astana, Kazakhstan
Following the combination of Salans, FMC and SNR Denton which was launched in April, Dentons has continued the expansion of its operations in Kazakhstan with the opening of a new satellite office in Astana, Kazakhstan. The Astana satellite office will be headed by newly promoted Partner Birzhan Zharasbayev. Birzhan specialises in construction and real estate, infrastructure and PPP, corporate and commercial matters and M&A. He has acted as lead lawyer on a number of major M&A and development projects and frequently represents clients in high-level negotiations with the Kazakhstan government. Birzhan has provided advice on several draft laws and acted as leading co-drafter of Kazakhstan’s legislation on Islamic banking and finance. He has been with the Firm since 2006. The new Astana satellite office was opened in July 2013 and acts as an integral part of Dentons’ existing Kazakh practice and Almaty office, headed by Partner Aigoul Kenjebayeva. It will enable Dentons’ lawyers to service the growing number of national and international clients doing business in Astana more quickly and efficiently on the ground. The combined Kazakh practice of Dentons now has over thirty-five fee earners (including six partners) with further growth expected in the near term, positioning it as the leading and the largest international law firm in the country. Dariusz Oleszczuk, Dentons’ Europe Chief Executive Officer, said: “I am delighted to announce Birzhan’s promotion to partner and his relocation to head our new satellite office in Astana. This is a great opportunity for us to build on the success we have had in Almaty and to provide our clients with legal advice in the locations where they need it. Kazakhstan is a rapidly growing economic hub in the CIS region, so strengthening our capabilities and presence in this country is of strategic importance to us. I am confident that with Aigoul and Birzhan at the lead, we will continue to be successful in taking advantage of the opportunities in this key market.“
Written by John on 01 August 2013.
♦ Recent Deals ♦ Almaty, Kazakhstan, Moscow, Russia
A cross-border team of Dechert lawyers is advising Russia’s Mechel OAO (NYSE:MTL; “Mechel”) on its planned disposal of several ferroalloy assets to Turkey’s Yildirim Group. According to the agreement, which was announced today, Yildirim Group will acquire Mechel’s Voskhod Mining Plant (in Khromtau, Kazakhstan) and Tikhvin Ferroalloy Plant (in Tikhvin, Leningrad Region, Russia) for a total of U.S.$425 million. Yildrim Group was the winning bidder in a tender process to acquire the assets. The deal is subject to receipt by the parties of certain governmental approvals in Russia and Kazakhstan, including the waiver of the Kazakhstan state pre-emptive right, on which Dechert is also currently advising. Société Générale Corporate and Investment Bank and ING Bank are also advising Mechel on this transaction. The Dechert corporate team advising Mechel is being led by Moscow partner Laura Brank, head of Dechert’s Russia Practice, assisted by national partner Evgenia Korotkova, counsel Olga Watson, and associates Irina Kulyba and Kirill Skopchevskiy. Almaty national partner Victor Mokrousov and associates Nadezhda Oparina and Yelena Pestereva are advising on various Kazakhstan law matters, including regulatory issues. Additional counsel is being provided by London partners Corinna Mitchell and Mark Stapleton, and London associate Liselot Ronz. Mechel is an international mining and steel company that employs over 80,000 people. Its products are marketed in Europe, Asia, North and South America, and Africa. Mechel’s business includes producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high value-added products. Yildirim Group is a Turkey-based private diversified industrial group comprising enterprises from ten different industries in various countries. It owns ETI KROM INC., Turkey’s largest producer of chrome ore as well as high-quality high-carbon ferrochrome, and Vargön Alloys AB, one of the oldest ferrochrome plants in Sweden. Yildirim Group is the world’s largest hard lumpy chrome ore producer as well as the world’s second largest high-quality high-carbon ferrochrome producer.