A team of associates from the Corporate and M&A Practice at Egorov Puginsky Afanasiev & Partners provided legal advice on a transaction involving the sale of shares in one of the companies belonging to National Media Group. The Firm’s associates structured the transaction, drafted all of the transactional documentation, worked with the depositary, and advised the Client throughout the entire process.
The project was unique in that the Firm’s associates successfully used a new transactional mechanism for legal support that was recently introduced into Russian legislation – irrevocable power of attorney – and engaged the depositary as an escrow agent. The team also made use of the recently reformed legislation on securities.
The transaction was completed successfully and on time, according to conditions agreed with and beneficial to the Client. The newly implemented mechanism that was used ensured that the terms of the transaction were properly executed by the counterparty.
A team from the Firm’s St. Petersburg office worked on the project, including Head of Corporate and M&A Practice Elena Agaeva, Senior Associate Evgenia Evdokimova, and Associate Elena Kvartnikova.