Akin Gump Advises USM Holdings in Sale of $740 Million Stake in Mail.Ru Group to MegaFon

(London) – Akin Gump has advised USM Holdings, a leader in the Russian-speaking Internet market, and its subsidiaries, in the sale of its stake in Mail.Ru Group Limited to PJSC MegaFon.  The transaction closed today February 9, 2017.

Under the terms of the announcement, MegaFon has acquired 11.5 million Class A shares and 21.9 million ordinary shares in Mail.Ru from New Media and Technology Investment LP, New Media Technologies Capital Partners Limited and Ardoe Finance Limited, subsidiaries of USM Holdings, for a total consideration of $740 million, including a deferred element.

The transaction has received Russian antimonopoly approval and fulfilled a number of other conditions.

The Akin Gump team that advised USM Holdings and its subsidiaries was led by relationship partner Artem Faekov and corporate partner David Sewell, supported by corporate partner Harry Keegan and corporate associate Rob Whittle, all in Akin Gump’s London office and corporate counsel Anna Semashko in the Moscow office.

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.