Ogier recently advised Basic Element and En+ Group on the acquisition by VTB Capital, the private equity arm of Russian financial services group VTB, of a 4.35% stake in En+ Group for $500m from Basic Element.
The team advising Basic Element and En+ Group at Ogier was led by partners Chris Byrne and Marc Yates and included Martin Welsh, Adam Chester and Anna Cochrane. The team advised on complex corporate, banking, corporate governance, shareholder and security issues involved in the transaction. Ogier Corporate Services provides administration and secretarial services to Basic Element, En+ and UC RUSAL and the team included director Simon Mackenzie, Jo Freeman and Michael Pankhurst.
Chris Byrne, partner at Ogier, said “We are delighted to have been involved in this significant deal, which we understand was one of the biggest private equity investment transactions in the Russian market. En+ Group sees the investment as an important milestone in going public, one that is expected to significantly increase its future value and therefore one the Group hopes will add to the attractive investment opportunity of the Group generally.”
En+ Group is a leading Russian diversified mining, metals and energy group, that holds a 47.41% stake in the world's largest alumina and aluminium producer UC RUSAL; owns Russia's largest independent power producer EuroSibEnergo; and one of the leading suppliers of ferromolybdenum to the global market SMR; significant coal assets and a logistics business. The core base of En+ Group's business is located in Eastern Siberia, close to the fast growing Asian markets.