|
CMS Cameron McKenna LLP acted for the interests of Sergei Popov recently in the exchange with Andrei Melnichenko of significant shareholdings in MDM Bank and EuroChem Mineral and Chemical Company, a Russian private bank and agrochemical company respectively.
Mr Popov’s interests, which already control 50% of the share capital of MDM Bank, agreed to acquire the remaining 50% interest in MDM Bank and dispose of a 50% stake in EuroChem. The reorganisation is subject to regulatory approval. MDM Bank has total assets of US$7.7 billion and Eurochem had total sales on 2005 of US$1.89 billion and employs 30,000 people.
Mr Melnichenko and Mr Popov continue as partners in SUEK, the Siberian Coal Energy Company, Russia’s largest, and the world’s seventh largest, coal producer.
The CMS Cameron McKenna team was led by Sean Watson, Corporate Partner, and included Corporate Associate, Mark Forman.
Sean Watson, Corporate Partner, CMS Cameron McKenna, said, “The Corporate Group at CMS Cameron McKenna is delighted to act as an adviser on this significant transaction involving two very substantial companies in the growing and dynamic Russian economy. The involvement of CMS Cameron McKenna reflects the growing importance of the firm’s significant Russian practice.” |