Tag: st-petersburg
Written by John on 21 September 2012.
♦ Recent Deals ♦ Moscow, Russia, St. Petersburg
A team of lawyers from Salans’ St. Petersburg and Moscow offices has advised Renova-StroyGroup on the conclusion of a second development contract in St. Petersburg to build a new residential complex on Petrovsky Island. Renova-StroyGroup, a member of the Renova group, recently announced its second St. Petersburg development project – a residential complex on Petrovsky Island. In order to implement the project, Renova-StroyGroup acquired a share in Petrovsky Aliance, which holds the development rights on Petrovsky Island. According to preliminary estimates, the project will be worth more than USD 80 million. Real estate specialists from Salans’ St. Petersburg and Moscow practices provided legal support for the transaction, including drafting all the transaction documentation, carrying out complex due diligence of the property (land plots and buildings in the historical part of St. Petersburg) and the corporate status of the rights holder. The project was led by head of the St. Petersburg office real estate group Karina Chichkanova and Moscow senior associate Sergei Trakhtenberg. Of counsels Irina Dementieva and Maria Kaidanovskaya, as well as associates Anna Kaptarenko and Julia Markina, also worked on the project. "We are delighted that Renova-StroyGroup chose Salans as its legal partner," said Karina Chichkanova. "This deal shows once again that our experience in real estate transactions means we can handle projects of any degree of difficulty."
Written by John on 05 October 2011.
♦ Recent Deals ♦ Moscow, Russia, St. Petersburg
Salans has represented RÜTGERS Group, Europe’s leading manufacturer of chemical raw materials made from coal tar and owned by private equity investment firm Triton, in signing a joint venture with Severstal, one of the world’s leading vertically integrated steel and mining companies. An agreement to this effect was signed in Moscow by Severstal Russian Steel Division general director Alexander Grubman, RÜTGERS Group President and CEO Mr. Henri Steinmetz and RÜTGERS Group CFO Dr. Max Padberg. RÜTGERS holds 51% of the charter capital. Total investments make up USD 26.6 million through borrowed funds over 5 years. The joint venture "RÜTGERS Severtar" will use the facilities of the tar pitch processing shop of the coke and by-product process at Severstal's factory in Cherepovets to produce vacuum pitch, technical oils and naphthalene by deep conversion of coal-tar. The joint venture is scheduled to become fully operational by the 1st quarter of 2013. Severstal’s team included CEO legal adviser Yakov Kazakov and legal counsels Yuri Antsyferov, Elena Klimakova, Sergey Bibikov and Tatyana Veretekhina. Salans’ team was led by Moscow partners Florian Schneider and Mikhail Dikopolski and included Moscow associates Anton Kunashov, Artashes Oganov, Aaron Raffel, Andrei Kiryanov, and Sergey Shishkin, together with St. Petersburg associate Ksenia Bruk. Florian Schneider commented: “We are delighted to have assisted RÜTGERS in this landmark transaction. The client was extremely complimentary about the work of the Salans team. The signing of a joint venture between RÜTGERS and Severstal is an important sign in the current Russian economic environment and demonstrates our success in one of the biggest projects of Salans' Moscow office in 2011.”
Written by John on 14 July 2011.
♦ Recent Deals ♦ Russia, St. Petersburg
Salans’ corporate finance team has advised Noble Carbon on its acquisition of carbon emission reduction units (ERUs) generated by the project on “Reconstruction of Steelmaking at JSC Ashinskiy Metallurgical Works, Asha, Russian Federation.” This was one of the first carbon credit transactions to date in Russia and among the most complex. Salans’ team, led by Irina Dementieva, Of Counsel in Salans' St. Petersburg office, and supported by Glenn Kolleeny, Partner and member of Salans' Global Board, advised Noble Carbon on the legal regulation of carbon credit trading in Russia and the preparation of all legal documentation. Irina also assisted the client in negotiations with Russian State savings bank Sberbank, which is authorised by the Russian government to implement Article 6 of the Kyoto Protocol as the administrator of ERUs in Russia. In this specific transaction, Sberbank also represented the seller of the ERUs. The practice of documenting carbon credit trading in Russia is still at an early stage. The Salans team worked with Noble Carbon to devise an innovative tripartite agreement regulating the rights and obligations not only of the seller and the purchaser, but also of the administrator of the Russian carbon credits register (Sberbank), which plays the key role in the transfer of ERUs. The carbon units transaction agreement was executed in April 2011. The first operation under the carbon units transaction agreement was successfully carried out in May 2011. Glenn Kolleeny said, “Salans is very excited to have acted as legal advisors to the Noble Group on this landmark transaction. In our view this transaction establishes the state of the art for documentation of carbon credits trading in Russia. We believe carbon trading is increasingly important for Russia as a country that can and must greatly increase energy efficiency. We are glad to be able to play a significant role on the legal side in the development of this market and the implementation of the Kyoto Protocol.”
Written by John on 13 July 2011.
♦ Recent Deals ♦ Russia, St. Petersburg
OJSC Saint-Petersburg Telecom, a subsidiary of Tele2 Russia Holding AB, has closed a debut bond issue of RUB 13 billion. The issuer's liabilities under the offering will be covered by irrevocable undertakings from Tele2 Russia Holding AB and Tele2 Financial Services AB. Raiffeisen Bank and VTB Capital acted as lead arrangers and book-runners. Tele2, one of Europe's leading telecom operators with 31 million customers in 11 countries and net sales of SEK 40.2 billion in 2010, has been operating in Russia since 2003 and now serves more than 19 million in 37 Russian regions. The company's share is listed on NASDAQ OMX Stockholm. Tele2 was advised by Mannheimer Swartling on the matter. The firm's team was led by Jan Dernestam and Fredrik Svensson and included, among others, Anna Sukharina, Madeleine Rydberger, Tatiana Mikhaleva, Marina Tsurkan, and Maxim Morozov.
Written by John on 28 June 2011.
♦ Recent Deals ♦ Moscow, Russia, St. Petersburg
Hogan Lovells has advised TNT Express Worldwide CIS LLC, a Russian entity of TNT Express, on the long-term lease of a whole office building in Moscow. TNT is one of the world’s leading business-to-business express delivery services providers. This office building will become a new head office of TNT Express in Russia. The deal was signed on 10 June 2011. TNT Express has been in Russia since 1989. It has 13 depots in Moscow, St. Petersburg and other major Russian cities. Every month TNT fulfills about 125,000 orders for deliveries to and from Russia. The regional network covers 11,000 Russian cities and towns. The Hogan Lovells team was led by Taras Oksyuk, Partner and Head of Hogan Lovells (CIS) Real Estate Practice. Taras was assisted by real estate associate Natalia Miroshnichenko. Taras Oksyuk commented: "We have very much enjoyed working for TNT, our long-standing client, on such a high-profile deal. We look forward to further developing our successful relationship. Our work with TNT on this transaction gave us another opportunity to demonstrate our strong real estate capabilities and expertise in Russia." Michal Stancombe, Co-Chair of Hogan Lovells Global Real Estate Practice, said: "We are delighted that the Moscow office has acted on this key deal and look forward to building a wider relationship with TNT Express".