Practice Areas - International Finance and Bank Credit Law Firms and Lawyers
| Deal Date: | 05-03-2012 | Practice Area: | International Finance and Bank Credit |
| Deal Title: | VTB Capital acquisition financing for Polyus Gold stake | Industry: | Mining |
| Description: |
International law firm Clifford Chance LLP has advised VTB Capital plc ("VTB") in connection with the sale by Mikhail Prokhorov's Onexim Group of its entire interest in Polyus Gold International Limited ("PGIL").
The interest was sold via two separate transactions: a 18.5 per cent. stake was acquired by Zelimkhan Mutsoyev and a 19.28 per cent. stake by Gavril Yushvayev, for, in aggregate, USD3.6bn. VTB acted as finance provider to both purchasers, as well as financial adviser to one of the purchasers. As well as advising on the financing aspects of the transaction, Clifford Chance advised VTB on regulatory issues, including in particular in relation to the UK Takeover Panel's concert party analysis.
PGIL is Russia's biggest gold miner by volume and is a premium listed company on the London Stock Exchange.
The team, in London, was led by partner Leonard Cleland with assistance from senior associates John Fenemore, Alison Chan, Natalia Wise and associates Isabella Gill, Tess Trepak, Elizabeth Turner, Sarah Rudd. Corporate advice was provided by partner David Lewis and associate Catriona Llanwarne. Regulatory input was provided by partner Matthew Grigg and senior associate Owen Lysak.
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| Financial Center: | London | Value: | 1000.01-5000.00 |
| Advised Party: | Lender | Law Firm | Clifford Chance |
| Borrower Jurisdiction: | Russian Federation | Lender Jurisdiction: | Russian Federation |
| Classification: |
Acquisition Finance Private Company Acquisition |
Lawyer | Leonard Cleland |
