The CMS team in Moscow has successfully advised VTB Bank, a major Russian financial institution, on a US$150 million investment to acquire 19.90% of Otkritie Financial Corporation, a Russian investment bank and one of the top five brokers on the Russian equity market.
This is a significant strategic alliance between the two banks, and is also CMS’s first completed transaction acting for VTB. Moreover, it is also one of the first major transactions completed by CMS Russia since the merger in Russia was announced in January 2009. This merger, between the Moscow offices of the three CMS firms that have operated in Russia, created one of the most experienced and largest international law firms in Russia with over 130 lawyers, including 22 partners.
Led by CMS Corporate Partner, Sandra Rafferty, the team comprised Kirill Ratnikov, Ilya Skripnikov, Matthew O`Toole, Andrey Zavalishin, Grant Williams, Karen Young, Rustem Ibragimov, Vadim Khomenko (on secondment to VTB), Maya Kryazheva in Moscow. Financial Services partner, Simon Morris advised on regulatory aspects in London, assisted by Jodie Smith.
Sandra Rafferty comments, “We are delighted to support our client, VTB Bank, in their latest major success. This transaction required us to provide a well co-ordinated approach from our Corporate, Banking and Financial Services practices in both Moscow and London. We look forward to supporting VTB Bank going forward.”
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