Egorov Puginsky Afanasiev & Partners advised on the restructuring of Solntse Mexico and Mission Foods Stupino, Russian divisions of Gruma Group, the largest cornflour, chips and tortillas manufacturer in the world. The Firm’s attorneys also assisted the Client in obtaining special economic zone resident status in connection with its investment in a factory in Moscow Region.
The Firm’s attorneys developed an intra-group restructuring strategy, which was carried out successfully in short time, and supported the Client through negotiating an agreement on operating within a special economic zone with the Ministry of Economic Development of the Russian Federation and other governmental bodies.
The project required liaising and coordinating with the Client’s subsidiaries and advisors in various countries and a number of governmental authorities. This is a particularly important project for Gruma Group as it helps to expand its business in Russia.
The Client was counselled by a multi-skilled team of the Firm’s lawyers, including Head of the St. Petersburg M&A and Corporate Practice Elena Agaeva, Counsel Olga Mischenko, Senior Associates Evgeniya Evdokimova, Olga Morozova, Daria Sergeeva and Sergey Ustalov, Associates Elena Kvartnikova, Yuri Nefedov, Anton Kleshchenko, Olga Tyangaeva and Maria Demina, and Junior Associate Vladislav Chukanov.
Gruma Group, a global corporation headquartered in Mexico, has been operating in Russia since 1996 and manufactures Mexican food products. In autumn 2017, the company launched a factory in the Greater Moscow area, the corporation’s 75th plant.
Egorov Puginsky Afanasiev & Partners advises the Client on its day-to-day operations in Russia as related to a wide range of corporate law issues, such as drafting and amending corporate documents and shareholder and board meeting resolutions, advising on corporate investments to be made by headquarters in support of the local entity, and drafting related documents.