Russia

a. EN+Group IPO

White & Case, Ogier, and Egorov Puginsky Afanasiev & Partners advised EN+ Group plc as issuer, and Linklaters counseled the underwriters, on the offering of global depositary admitted to trading on the London Stock Exchange and the Moscow Exchange. The total size of the offering amounts to USD 1.5 billion at the offer price.

Deal parties (advisors)

  • Issuer: EN+ (White & Case; Ogier; Egorov Puginsky Afanasiev & Partners)
  • Underwriters: BMO; Citigroup; Credit Suisse; Gazprombank; J.P. Morgan; Sberbank CIB; Societe Generale; VTB Capital; UBS (Linklaters)

 

b. Glencore/Qatar Investment Authority Sale of Stake in Rosneft to CEFC

Linklaters acted for Glencore and Cleary Gottlieb Steen & Hamilton advised the Qatar Investment Authority in the disposal of a 14.16% stake in Rosneft held by a consortium jointly-controlled by Glencore and QIA to China Energy Company Limited. LXL and Alrurd advised CEFC on the deal, with Latham & Watkins advising Intesa as Escrow Bank on the deal.

Deal parties (advisors)

  • Sellers: Glencore (Linklaters); Qatar Investment Authority (Cleary Gottlieb Steen & Hamilton)
  • Buyer: China Energy Company Limited (CEFC) (LXL (on English law); Alrud (on Russian law))
  • Lender to Glencore-QIA Consortium on Original Acquisition and Escrow Bank on Sale: Intesa (Latham & Watkins)

 

c. FESCO Restructuring

Cleary Gottlieb Steen & Hamilton, Ogier,  Loyens & Loeff, Chrysses Demetriades & Co, and Gregory Danz advised the Far-Eastern Shipping Company PLC and its subsidiaries on a new scheme of arrangement sanctioned by the High Court of Justice of England and Wales via an order dated November 3, 2017. Dechert LLP advised the ad hoc group of bondholders.

Deal parties (advisors)

  • Client: FESCO (Cleary Gottlieb Steen & Hamilton; Ogier; Loyens & Loeff; Chrysses Demetriades & Co; Gregory Danz)
  • Financer: VTB Bank PJSC (Herbert Smith Freehills)
  • Ad hoc group of bondholders (Dechert LLP)
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