Orrick, Herrington & Sutcliffe LLP has advised Sberbank, the largest bank in Russia and Eastern Europe, in connection with its $2.94 billion in acquisition financing to Yamal Development LLC, a joint venture between Russian oil and gas companies Novatek and Gazprom Neft. The financing will enable enabled Yamal Development LLC to purchase Eni S.p.A.’s 60 percent stake in Artic Russia B.V., which, through SeverEnergia LLC, holds four licenses for the exploration and production of hydrocarbons in the Yamalo-Nenets Region of Russia.
Orrick is currently advising Sberbank on various matters from banking and finance work to venture capital and private equity investments. The firm is also working on Sberbank’s US$170 million investment into a jewelry retailer.
The cross-border Orrick team was led by Moscow corporate partner Leo Batalov and included London corporate partner Anthony Riley, London corporate of counsel Richard Moudiotis, London corporate associate Kirill Kholod and Moscow corporate associate Maria Kazakova.
