Akin Gump Advises O1 Group on $200 Million Share Sale in O1 Properties and Associated Financing
(Moscow) – Akin Gump has advised Russian investment company O1 Group on the sale of shares in O1 Properties Limited by O1 Group subsidiary Centimila to a leading international bank. The total amount represents 12 percent of the total issued share capital of O1 Properties and is for a consideration of $200 million. The transaction consisted of two tranches; the second one closed on Friday, August 29, 2014.
Dmitry Mints, chairman of the Management Board of O1 Properties, said “We appreciate the work done by the Akin Gump team and want to express our gratitude for their professional expertise. This deal is very important for our company, and we look forward to using our expanded capital base to reduce debt and continue our strategy of investing in premium office buildings in Moscow.”
Akin Gump also advised O1 Group on a related secured financing of $200 million under which the lenders will receive part of any amount payable under the put option that is in excess of the initial purchase price.
The Akin Gump team was led by Moscow corporate partner Suren Gortsunyan with London finance partner Robert Aulsebrook. They were supported by a team of lawyers including Abu Dhabi counsel Catriona McDevitt, London associate Inderveer Hothi and Moscow associates Konstantin Mineev and Anna Kardash.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 850 attorneys in offices throughout the United States, Europe, Asia and the Middle East.