03/24/2021 | Press release | Distributed by Public on 03/24/2021 12:15
(London and Moscow) - Akin Gump is advising Trans-Siberian Gold PLC, which operates the Asacha gold mine in Kamchatka in Russia, on its takeover offer from Horvik Ltd for £108 million.
Horvik has agreed to buy a 51.2% stake in Trans-Siberian, in two stages, from a group of existing shareholders including the Russia and CIS- focused private equity firm UFG Asset Management.
Horvik has already acquired the first tranche, which represents 24.7% of Trans-Siberian's shares. The second tranche is conditional on the approval of the Russian Federal Antimonopoly Service and, once received, Horvik will be required to make an offer to the remaining shareholders of Trans-Siberian for their shares on the same terms.
Founded in 1945, 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.