Andrey Gorodissky & Partners advised Otkritie Holding on its transaction with Lukoil

Otkritie Holding has reached an agreement with LUKOIL PJSC on the purchase of Arkhangelskgeoldobycha JCS (“AGD”), a Russian big diamond mining company which is engaged in the development of the V.P. Grib Diamond Field in the Arkhangelsk Region, Russia.
The transaction was handled by Skadden, Arps together with AGP lawyers. Our responsibilities included due diligence on AGD, covering real property, licenses, environmental, employment aspects, etc. as well as working in a combined team together with lawyers of Otkritie Holding and Skadden, Arps to develop and negotiate the transaction terms.
The transaction amount is US$ 1.45 billion and the closing is anticipated in the 1 quarter of 2017, after obtaining the government approvals.
Alexey Gorodissky headed the AGP team of lawyers.