10/08/2019 | Press release | Distributed by Public on 10/09/2019 10:07
(Moscow, Russia) - Akin Gump advised Mail.ru, the leading Internet and IT company in Russia, on the formation of a joint venture with Alibaba Group, a global digital commerce company, PJSC MegaFon, a pan-Russian operator of digital opportunities, and the Russian Direct Investment Fund, Russia's sovereign wealth fund. The deal was announced on June 5, 2019 and closed today.
The joint venture integrates Russia's key consumer Internet and e-commerce platforms and launch a leading social commerce joint venture in Russia and the CIS. It has received approval from the Federal Antimonopoly Service in Russia.
The joint venture creates an unmatched value proposition for merchants, consumers and Internet users across Russia and the CIS and accelerates the development of Russia and the region's growing digital economy by leveraging and integrating the strength and expertise of the new shareholder group.
The Akin Gump team advising Mail.ru is led by London corporate partner Artem Faekov, supported by Moscow corporate partner Vladimir Kouznetsov and London cross-border transactions partner David Sewell. The team also includes Moscow corporate counsel Anna Semashko and London associates Harpreet Hundal, Alla Barford and Nertila Qenani.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
# # #