Represented our client’s interests on the acquisition of 10% of shares in Vostok Oil

ALRUD experts advised a multinational company, trading in commodities, metals and energy resources on the acquisition of 10% of shares in Vostok Oil.

Investments provide our client’s access to a new large, world-class onshore oil-producing area in the Taymyr region in North Siberia, with clusters of high-quality oil resources, estimated at 6bn tons , as well as access to long-term shipments of oil, including those from Vostok Oil.

The transaction was recognized as the largest in 2020. ALRUD experts advised the client on the Russian law issues in respect of the asset’s due diligence, preparation of transaction documents for acquisition of participation interest in Vostok Oil (sales & purchase agreement, corporate agreement), and on the financing attracted by the client, obtaining approval in respect of strategic investments.

ALRUD team, working on the project under the leadership and supervision of Andrey Zharskiy (Partner and Head of the Energy, Natural Resources and Infrastructure Industry Group), comprised Alexander Zharskiy (Partner and Head of Corporate and M&A Practice), German Zakharov (Partner of Competition/Antitrust Practice), and also Counsel Oleg Ezhov, Senior Associate Timur Akhundov, Senior Associate Ruslana Karimova, Senior Attorney Anna Kuznetsova, Senior Attorney Artem Sergey and Associate Irina Kuyantseva.