The financing agreements for VTB Bank’s VTB Arena were signed in Moscow in a recent ceremony attended by Russian Prime Minister Dmitry Medvedev and Italian Prime Minister Mario Monti. VTB Bank has borrowed a €500 million loan for the construction of the stadium, which has been heralded as one of the Russian Federation’s largest development projects. The stadium will be jointly owned by Dynamo FC, a Moscow team that plays in the Russian Premier League, and VTB Bank, which owns a majority stake in the team. The stadium will be a focal part of the 2018 FIFA World Cup, which will be hosted by Russia.

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KazMunaiGas Exploration Production JSC (KMG EP), one of Kazakhstan’s leading oil companies, has announced the signing of a Share Purchase Agreement to sell a 49% equity stake in the Karpovskiy Severniy project to MOL Hungarian Oil and Gas plc (MOL), one of Central and Eastern Europe’s key integrated energy businesses.

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Kazakhstan Fertilisers Group Pte Ltd. (“Kazfert”), an investment vehicle managed by Hong Kong-based private equity firm Sprint Capital Management Limited, has entered into an agreement with Satimola Ltd to acquire Satbor LLP, a potash mining and exploration business in Kazakhstan. The deal value has not been disclosed and the closing of the transaction is subject to regulatory and certain other conditions.

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Jeffrey N. Labovitch has joined the San Diego office as a partner in the Insurance Coverage, Commercial Litigation and Professional Liability practice groups. Mr. Labovitch’s practice specializes in handling complex insurance coverage matters. He has extensive experience advising insurance companies with respect to general insurance coverage matters and defending and prosecuting insurance companies’ most challenging and complex problems at both the trial and appellate levels. Mr. Labovitch also specializes in business litigation, the prosecution and defense of intellectual property claims, and defending professional liability claims under errors & omissions policies.

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Shearman & Sterling has succeeded in obtaining an order from the Court of Appeals in Rome overturning the seizure of approximately €1 billion in assets held in Italy by the Libyan Investment Authority (“LIA”). The seizure was implemented by Italian judicial authorities in March 2012 following a request received from the International Criminal Court in the Hague.

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Ashurst has advised Fortune 500 company Owens & Minor, Inc on its €130 million planned acquisition of the Movianto group, a European pharmaceutical logistics business, from Celesio AG.

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