VERBA LEGAL Advises on Share Placement by UMG

VERBA LEGAL has advised UMG IPJSC (MOEX: GEMC) in connection with the placement of a minority stake in its ordinary shares through a private subscription. The total value of the placement exceeded RUB 18.3 billion.

The additional share issue was carried out as part of the strategic integration of the EMC Group with the Scandinavia clinic network, one of the largest private multi-disciplinary healthcare providers in St. Petersburg.

Approximately 21% of UMG IPJSC shares were placed in favour of Severgroup, the owner of the Scandinavia clinic network. The shares were paid for by way of a non-cash contribution through the transfer of a 100% interest in the charter capital of AVA-PETER LLC, the operator of the Scandinavia clinic network.

Further information on the transaction is available on the company’s website in the “News” section.

The project was led by Partner Alexander Kuznetsov, Counsel Anna Sidorenko, and Associate Delgira Akuginova.