Akin Gump Advises Sistema on Subsidiary’s Sale of 23.1% Stake in Detsky Mir Group
(Moscow) – Akin Gump has advised Sistema JSFC, a publicly traded diversified holding company in Russia and the CIS, on the sale by subsidiary CJSC DM Finance of a 23.1 percent stake in JSC Detsky Mir Group to the Russia-China Investment Fund for a total consideration of RUB 9.75 billion ($133.56 million).
Detsky Mir Group owns the Detsky Mir and ELC (Early Learning Centre) brands and is Russia’s largest retailer of children’s goods. At the end of 2015, the Detsky Mir Group’s retail network consisted of 425 stores.
The Akin Gump team advising Sistema JSFC was led by Moscow corporate partner Vladimir Kouznetsov supported by counsels Anna Semashko and Olga Te.
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.