Akin Gump Advises LUKOIL in the Sale of Arkhangelskgeoldobycha Diamond Mining Company for $1.45 Billion

(Moscow) – Akin Gump has advised PJSC LUKOIL on the sale of 100 percent of the shares in JSC Arkhangelskgeoldobycha Diamond Mining Company, one of Russia’s largest diamond miners, to Otkritie Group.

The acquisition was for a consideration of $1.45 billion. The transaction documents were signed in December 2016, and the deal was completed on May 24, 2017.

The transaction was carried out under Russian law, and has received both Russian antimonopoly approval and consent of the Governmental Commission for the Control over Foreign Investments and fulfilled a number of other conditions.

The Akin Gump team that advised LUKOIL was led by Moscow corporate partners Alexey Kondratchik and Natalia Baratiants, supported by counsel Alexander Shalaev. Senior counsel Alexander Trukhtanov and corporate counsels Andrey Kulikov and Arsen Khachikyan also advised on the matter.

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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