ALRUD Experts advised VEON on the sale of VimpelCom to the Russian Top Management

ALRUD Experts advised VEON on the sale of VimpelCom to the Russian Top Management

29 November 2022

ALRUD specialists advised on the sale of VimpelCom by the global digital operator VEON to the Russian top management.

ALRUD team provided comprehensive legal support for the preparation of and agreeing on the transaction documents.

According to the transaction documents, VEON will receive a total consideration in the amount of RUB 130 billion. The transaction is expected to be closed not later than 1 June 2023. However, both parties may extend the deadlines if required licences and approvals from Russian and foreign regulatory authorities will not be received.

VimpelCom (Beeline brand) is a part of the VEON Group (listed on the NASDAQ and the Euronext Amsterdam), a global digital operator that provides converged connectivity and online services to the customers.

Kaan Terzioğlu, CEO of VEON Group, commented:

'After considering numerous options, I am confident that the agreed sale of VEON’s Russian operations to the VimpelCom management team represents an optimal solution for VEON, its Russian operations and the stakeholders of both companies, including customers, shareholders and creditors, as well as employees both in and outside of Russia. VEON is committed to ensuring the transaction is seamless for staff and customers in Russia, with no disruption to the services currently provided.'

ALRUD team was headed by Corporate and M&A Practice Partner Sergey Khanaev and comprised experts from different practices: Senior Associate Anna Grosheva, Senior Associate Ksenia Erokhina, Senior Associate Roman Vedernikov, Senior Associate Sergey Artemiev and Junior Associate Yulia Malchenkova.

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