Egorov Puginsky Afanasiev & Partners provided legal support to FAM AB, Sweden’s largest holding company, in a cross-border transaction worth over $580m to purchase business subdivision of Sandvik Process Systems.
The project involved advising on Russian law in the course of structuring the deal, which encompassed 17 jurisdictions; legal support throughout the carve-out, rebranding and intra-group restructuring processes; establishment of a new legal entity in Russia; and general legal support to the local company, including finance structuring, corporate secretarial services and interaction with contractors.
The deal helped FAM to enter the new market of production equipment in several jurisdictions at a single stroke, and gave Sandvik Process Systems new opportunities for innovation, growth and profitability.
The client was counselled by a multi-skilled team of the Firm’s lawyers, including Head of St. Petersburg M&A and Corporate Practice Elena Agaeva, Counsels Olga Mischenko and Sergey Kalinin, Senior Associates Evgeniya Evdokimova and Alexey Karchemov, Associates Yuri Nefedov and Olga Tyangaeva, and Junior Associate Vladislav Chukanov.
FAM AB is a Swedish asset management company with assets worth USD 5 billion. The company holds shares in the largest machinery, timber, energy and industrial companies in Europe.
Sandvik Process Systems delivers advanced industrial process solutions for various industries. The company has global operations with approximately 600 employees in Asia, Europe, North America and South America.