Egorov Puginsky Afanasiev & Partners’ сompetition team managed to obtain the Federal Antimonopoly Service’s approval for the acquisition of the controlling stake in FC URALSIB for the Firm’s client.
The application for the acquisition of 100% of stake in FC NIKoil LLC and 85.98% of the voting shares in FC URALSIB OJSC filed with the FAS of Russia on June 4, 2015 by ROSSIUM Concern LLC, controlled by Roman Avdeev’s MKB, was granted on July 3, 2015.
As a result of this transaction, MKB will acquire a diversified financial services portfolio of URALSIB, which has an extensive branch network. MKB is acquiring the rights to URALSIB Bank, a management company, two brokerage companies, a non-governmental pension fund and a leasing company. As a result, a single group which will enable MKB to enter the federal level and explore the financial services markets will be established.
The project was a success thanks to the Firm’s Competition Practice team supervised by Counsel Anna Numerova, the team included Senior Associate Elena Kazak and Associate Ksenia Firsova.