Andrey Gorodissky & Partners Acted as Counsel for Purchaser of Shares in Polyus Gold Investment Limited

AGP acted as counsel for the purchaser of the 18.5 % stake in Polyus Gold Investment Limited (PGIL), which is the controlling shareholder of Polyus Gold OJSC, the largest gold producer in Russia. PGIL shares are listed on the London Exchange and therefore the transaction required approval by the Panel on Takeovers and Mergers, an UK regulatory body. The amount of the transaction for which AGP provided legal support is $ 1.77 billion. The aggregate amount of transactions for sale of stakes previously held by ONEXIM Group in PGIL is over $ 3.6 billion. AGP coordinated efforts of lawyers in UK, Cyprus and BVO at each transaction stage and, in particular, successfully liaised with the Panel on Takeovers and Mergers and proved that the seller and the purchaser of PGIL shares were not acting in concert. The AGP lawyers also drafted and negotiated transaction documents and related documents, made arrangements for the transaction closing and provided legal support for the performance of the parties’ post-closing obligations. Our team included attorneys-at-law Dmitry Lubomudrov and Valentin Moiseev.