Kirill Ratnikov is a senior counsel with the firm’s Moscow office. He brings to the firm his distinctive practical experience with structuring transactions in Russia and abroad. He has handled more than one hundred M&A transactions in various industries, including cross-border deals.
Mr. Ratnikov has participated in infrastructure, project finance, EPC and PPP projects in various industry sectors with a total value exceeding US$50 billion. These projects include: the construction of a factory in Kazakhstan and a pharmaceutical plant in Russia; the construction of the Boguchanskaya hydro power plant, the reconstruction of the Almaty-Khorgos toll road; the renovation of the Pulkovo airport; the construction of the M-1 toll road (“Odintsovo bypass”); the Orlovsky tunnel; the Moscow -St.-Petersburg toll road; the Volgograd ring road; the Central ring road; the Belkomur railway and railways to Chita and Kyzyl-Kuragino mineral deposits; and a number of other projects in the areas of transportation, health (with the involvement of foreign hi-tech medical equipment manufacturers), water treatment and waste incineration, traffic enforcement cameras and the complex development of Siberian territories.
As vice president/head of department for legal support of international projects of Rusatom Overseas Inc., a subsidiary of Rosatom State Corporation, Mr. Ratnikov worked on a number of nuclear power plants and research reactors for EPC projects in Africa, Latin America and the Middle East.
Mr. Ratnikov has regularly represented listed corporations and financial institutions, brokers/dealers, depositary banks and custodian banks on ADRs, Eurobonds and Euronotes projects, as well as in connection with exchange and OTC hedging instruments; complex derivatives, including options, futures, forwards, swaps and other derivatives; and disputes arising between the parties onsuch transactions, including ISDA contracts.
Practice & Background
Prior to joining Akin Gump Strauss Hauer & Feld LLP, Mr. Ratnikov was partner in a number of major international law firms in Moscow. From 2015 to May 2016, he was an Associate Professor of the Moscow State Institute of International Relations (MGIMO-University), where he continues to teach as a visiting professor. He is also a professor at the Public-Private Partnerships (PPP) and Project Finance Department of the Financial University under the Government of the Russian Federation.
Mr. Ratnikov is one of five main drafters of the original Federal Concession Law, and he holds memberships in the PPP Committee of the Russian Chamber for Commerce and Industry, expert councils on PPPs and Infrastructure of the State Duma (Russian Parliament), and the Russian Union of Industrialists and Entrepreneurs (RSPP). Mr. Ratnikov provides support in developing legislation on project finance in the CIS. He is also a member of the M&A expert board of the Russian Ministry of Economic Development. Mr. Ratnikov represents the Russian Federation on the UNECE Business Advisory Board. He is also a member of the Independent Directors Association.
Mr. Ratnikov’s engagements include:
- Representing EDB in connection with the financing project for a cascade of hydro power plants on the Dvina River in Belarus;
- Financing new terminals in the Sheremetyevo Airport, including construction agreements;
- Financing Magnitogorsk Iron and Steel Company for the construction of a new plant;
- Representing a major pharma company in connection with the transaction for construction of a plant in the industrial cluster in the Leningrad Region (including the EPC contracts governed by the laws of Switzerland and Russia);
- Representing the client in a transaction to buy a panel manufacturing plant for the world’s largest furniture manufacturer and create a multi-factory cluster to export to Russia, CIS and Europe;
- Advising on financing and construction of a Boguchansk hydro power plant and a Boguchansk aluminum plant (work included all project agreements, including financing);
- Representing the contractor in connection with the multibillion-dollar project for construction of new lines of the Moscow metro, preparing a bundle of the EPC contracts with the city and the risks matrix;
- Representing the client in connection with buying a plant supplying equipment to the Russian railways in the Leningrad region;
- Representing the client in connection with buying timber mills in Germany; business renovation;
- Representing the client in connection with buying the plants producing Multon and Nidan juices;
- Representing the client in connection with the construction of the Coca-Cola Group plants (construction contracts);
- Supporting construction of an international pharmaceutical plant in the “pharmaceutical cluster” in the Leningrad region (project value: US$150 million);
- Negotiating and providing day-to-day legal support of nuclear power plants and research reactor projects in Africa, the Middle East, Latin America, Asia and India (EPC, Operatorship, Nuclear Fuel Supply and other corporate/JV/project finance-related contracts governed by Russian, English and Contracting country laws);
- Advising a Russian oil company on its multi-jurisdictional litigation;
- Advising on 11 IPOs and Rule 144A ADR/GDR programs listed on the Russian stock exchanges and on the LSE, NYSE, Frankfurt stock exchange;
- Advising Gazprom, LUKOIL and other issuers on 10 bond offerings;
- Advising on two production-sharing agreements in Sakhalin;
- Participating in privatization of several oil and gas companies;
- Advising on entry of the Russian Federation into Paris and London creditors clubs and restructuring of the state external debt.
Power and Electricity
- Developing a new contractual model for financing and construction of power grid projects in Russian regions, working closely with the Ministry of Energy and other authorities (client – a major Russian electricity holding);
- Advising a Russian holding company on the structuring of PPP/concession projects in the electric power industry;
- Advising an operator on refinancing of a solar station project;
- Advising on construction of a wind power plant;
- Advising on financing of construction of two hydro power plants in Belorussia (EPC, financing, shareholder agreements and other aspects of the transactions);
- Advising on long-term power supply contracts for the Boguchansk aluminum plant in Siberia;
- Advising an Austrian company on legal aspects of engineering and construction of biogas plants in Belarus;
- Advising on long-term electricity supply agreements from Russia to China and Finland;
- Advising on long-term electricity supply agreements between aluminum plants and hydro power plants in Russia and in Kazakhstan.
- Serving as legal counsel of a major international pharma company on PPPs with Russian partners and procurement of innovative, recently registered drugs in the Russian regions;
- Advising on a JV between an international medical equipment producer and a Russian industrial group.
Oil and Gas, and Minerals
- Advising investors on the acquisition of two plants from Gazprom’s subsidiary;
- Representing the lender in the debt restructuring of two plants in Siberia;
- Preparing a long-term gas supply contract and long-term minerals supply agreements for a major industrial holding;
- Advising on a multibillion-dollar dispute between shareholders of a major oil company (details confidential).
- Advising the Ministry of Transport of the Novosibirsk region on the preparation of the concession tender with respect to the reconstruction of the road;
- Advising on two concessions in the Ryazan and Kostroma regions; concession agreements were signed and financial closing achieved in 2014;
- Advising the winning bidder, Impregilo, Todini, Salini, IL&FS, on US$1.1 billion Almaty-Khorgos toll road (Kazakhstan);
- Advising a consortium created to implement the Western High-Speed Diameter PPP road project in St. Petersburg;
- Representing the interests of the Russian Federation (FGU “Roads of Russia”) in preparing and implementing the M-1 concession project, including the legal opinion on the infrastructure bonds offering;
- Advising an international corporation on a proposed toll road concession in the Crimea in 2011 (Ukraine);
- Advising on the preparation of concessions for all sections of the M-4 Don federal toll road;
- Representing the interests of a winning bidder, an international consortium led by Vinci, with respect to the concession tender on the construction and development of the first section of a toll highway, Moscow – St. Petersburg (15-58 km); work included legal support of the tender process, signing of the concession agreement and financial closing;
- Providing legal support to the Russian government in preparing and implementing the Northern Bypass Odintsovo (M-1) toll road concession project; participated in the signing of the concession agreement and financial closing;
- Representing the client in preparing the concession tender for the development of the second part of the (58-684 km) toll highway, Moscow – St. Petersburg;
- Representing the interests of an international consortium involved in the concession tender for the Orlovsky tunnel PPP project (St. Petersburg);
- Advising the Volgograd region on preparing the concession tender documentation for the toll road “Volgograd City Bypass” in the Volgograd region (project value: US$ 1.7 billion).
Transport: Rail and Metro
- Representing the general contractor of the City of Moscow in innovative schemes to attract financing for the construction and reconstruction of the Moscow metro in 2012-2016 and providing contractual support for this US$2 billion project;
- Advising on the establishment of a joint venture between JSC “Russian Railways” and the Government of Moscow for the project of reconstructing and developing the small ring of the Moscow Railway;
- Representing the interests of one of the members of a consortium of foreign investors on the high-speed line project, “Overground Express” (NADEX), St. Petersburg;
- Providing legal support for the PPP project of developing a 460 km railway Kyzyl-Kuragino to Russia’s largest coal deposits in East Siberia (project value: US$7 billion);
- Advising on the PPP project for developing a 375 km railway line to mineral deposits in the Chita region, Siberia, including advising a JV with Asian investors on implementing the project (Project Value: US$6 billion).
- Working on project financing of two regional airports;
- Advising an international consortium on its bid for the “Pulkovo” airport PPP in St. Petersburg.
Complex Development of Regions
- Advising on formation of a JV between the state bank and a major developer with respect to project financing of the US$3 billion construction of New Moscow and complex development of the surrounding territories (building of power plant, roads and other infrastructure);
- Preparing the application of to the Development Fund of Siberia and the Far East (subsidiary of VEB) to secure financing for the acquisition and development of metallurgical assets and mineral deposits on the border with China;
- Representing the interests of several regions of the Russian Federation during the implementation of “Belkomur”, a comprehensive program of industrial and infrastructural development, including the construction of a railway under the PPP model.
- Advising a private operator on the use of PPP schemes for construction of army camps in Russian regions.
- Advising the IFC (member of the World Bank Group) on various PPP project issues in Russia and CIS, including Kazakhstan, Belorussia and Georgia.
- Advising the leading Russian cellular communications company in connection with 11 acquisitions of regional operators;
- Advising on the sale of a juice business (including a governmental foreign investment committee permit);
- Advising on the acquisitions in mining, food and beverages, IT, banking (acquisition of Barclays Bank Russian business) and natural resources sectors;
- Advising on a major M&A telecoms deal;
- Representing Golden Telecom on several acquisitions;
- Advising on M&A deals in the natural resources and minerals sector.
Recreational and Sport Infrastructure
- Providing legal support for the client in the construction of Olympic facilities in Sochi;
- Advising the administration of the Astrakhan region on a PPP project in the field of tourism and the development of social and cultural facilities.
Public Services: Recycling and Waste Incineration
- Advising an international consortium with respect to its bid for a PPP project to build and operate a waste recycling plant in Yanino (Leningrad region, Russia).
Infrastructure Funds/International and State Banks
- Advising an international financial group in establishing the first JV and infrastructure fund in Russia with the participation of Vnesheconombank and the Fund Samruk-Kazyna (National Wealth Fund of Kazakhstan).
Awards & Accolades
- World Finance – “Best PPP & Project Finance Lawyer in Russia”in 2013
- The Legal 500 EMEA 2010, 2013 – Corporate/Kirill Ratnikov is “a well-rounded lawyer and strong negotiator”; “Ratnikov has outstanding experience representing the Russian government and private sector.”
- Chambers Global 2012 – “Kirill Ratnikov is a renowned PPP, project finance and infrastructure specialist… Kirill Ratnikov has a great deal of experience in working with prominent energy clients across Russia and the CIS.”
- Chambers Europe 2007-2012 – Kirill Ratnikov is praised by clients not only for his leadership abilities, but also his “flexibility and professionalism.” In the words of one client, “As a Russian, he understands the situation there in minute detail, yet he shows the kind of discipline and focus that one would expect from a Western lawyer.” “Consistently attentive and thorough” lawyer who is known for his “sound knowledge of the market and deep commitment to PPP work” and “impresses with his eye for detail and insightful approach.” “Kirill Ratnikov is a standout name in the PPP sector, not only for his visibility on deals but also for his active involvement in shaping the law.” “Kirill Ratnikov has long played a key role in the top PPP projects in Russia and has built an enviable portfolio of prestigious instructions on Russian transport matters.” Kirill Ratnikov has a reputation as “one of the few real professionals” for PPP and is a prominent specialist, who participated in some of the biggest PPP projects of Russia. The name of Kirill Ratnikov is steadfastly associated with the area of PPPs. He remains a prominent figure in Russia, gaining new experience in the CIS and Eastern Europe. Clients admire his dedication and negotiation skills, describing him as “a good specialist.”
- Finance Monthly Global Awards 2010 – Kirill Ratnikov has been chosen by clients as Infrastructure & PPP Lawyer of the Year in Russia.
- AsiaLaw Profiles - “[...] Kirill Ratnikov represented Impregilo S.p.A., Todini, Salini and IL&FS Transportation Networks, whose application was victorious in the contest for the implementation of the project on reconstruction of 301 km of the road Almaty-Khorgos. It was one of the largest PPP projects in Kazakhstan with a total value of around US$1.1 billion.”
- Kirill Ratnikov is constantly ranked by leading legal publications, such as Best Lawyers, “Vedomosti” and IFLR as one of the “first tier” PPP and infrastructure specialists in Russia.