VERBA LEGAL Completes Advisory on the Acquisition of Shares in One of the Largest Seaports in Russia’s Far East

The VERBA LEGAL team has completed its work on the transaction involving the acquisition of shares in OJSC Vladivostok Fishery Port, as well as a number of affiliated companies.

The port is one of the key transport and logistics hubs in the Russian Far East: it handles the largest volumes of fish cargo in Russia and is among the country’s top five largest container terminals.

The group’s assets exceed USD 500 million.

As part of the transaction preparation, comprehensive due diligence was conducted in relation to the incorporation and operations of the group companies and their assets, including port infrastructure comprising more than 10 companies engaged in port and related activities. Given the importance of the port to the national economy, obtaining clearance from the Federal Antimonopoly Service of Russia (FAS Russia) was critical. This required the VERBA LEGAL team to develop a deep understanding of the business and its specific features in order to respond promptly and effectively to all requests from the regulator.

The transaction itself involved a number of share and equity interest sale and purchase agreements with different sellers, requiring the team to develop tailored terms and conduct complex negotiations with all parties involved.

As part of the project, VERBA LEGAL also ensured compliance with all applicable statutory and constitutional requirements relating to pre-emptive rights, consents for the disposal of jointly owned property and corporate approvals.

As a result of the transaction, the new owner has acquired control over the port group, creating significant opportunities for the further development of the port and strengthening its position as one of the leading transport hubs in the Russian Far East.

The VERBA LEGAL project team was led by Senior Partner Alexander Rudyakov. The project was also supported by Counsels Ekaterina Sitnikova, Ekaterina Tretyakova and Tatyana Yakovleva; Associates Nikita Kokorin, Maria Sakhno, Natalia Dubova and Marina Korneva; Junior Associate Anna Dotsenko; and Paralegal Irina Gasparova.