ALRUD Law Firm

September, 2021 - Moscow, Russia

Sberbank and AFK Sistema have acquired Nearmedic Group of Companies

ALRUD Law Firm acted as a legal counsel of Sberbank in relation to the acquisition of 50% of shares minus 1 share in JSC New Investment Holding, from AFK Sistema. This is a joint venture established to acquire the Nearmedic Group of Companies, which operates in pharmaceuticals industry, biotechnology, and medicine in Russia and Italy.

The transaction involved the provision, by AFK Sistema and Sberbank, through its subsidiaries, of shareholder’s financing in equal parts to JSC New Investment Holding, totaling RUB 1.2bn, to repay a part of the debt of Nearmedic Group of Companies owed to Sberbank, and entering into option agreements, granting AFK Sistema the right to purchase, and Sberbank – the right to sell, Sberbank's shares in New Investment Holding, with simultaneous transfer to AFK Sistema of Sberbank’s rights of claim under the credit granted to Nearmedic Group of Companies, worth up to RUB 2.8bn.

Nearmedic Group of Companies produces original medicines, develops, manufactures and sells diagnostic test systems and supplies laboratory equipment for medical laboratories. It has a high potential for growth with successful business restructuring and optimization of business.

The ALRUD team that worked on the project, under the leadership of Alexander Zharskiy (Partner and Head of Corporate and M&A Practice), included specialists of Corporate Practice: Irina Cherdintseva, Attorney, Natella Kortiashvili, Junior Attorney, and Roman Shpuntenko, Paralegal.