ALUMNI Partners advised G City Europe on the RUB 11.72 bn sale of its Russian real estate portfolio

ALUMNI Partners acted as the legal advisor to G City Europe (ex-Atrium European Real Estate), a leading owner, operator, and redeveloper of community shopping centres and residential for-rent assets in Central Europe, on the completed sale of its Russian real estate portfolio. The RUB 11.72 bn transaction included the sale of 10 Russian companies owning 7 shopping and entertainment malls under the brand “Park House”. These malls are some of the most popular shopping spots in the Volga region, Kazan, St. Petersburg, Ekaterinburg, and Moscow. The full portfolio has been acquired by Ramo-M Group, a Russia based developer and operator of the shopping centers in Krasnodar region.

ALUMNI Partners provided the full cycle support of the deal, including preparation and negotiation of the transaction documentation, pre-completion and completion support, as well as legal assistance with successful application for the approval of the deal to the Governmental Commission for Control over Foreign Investment in Russia.

The ALUMNI Partners project team was led by Anton Panchenkov, Partner, Corporate/ M&A and included Ayta Aduchieva, Senior Associate, acting as the leading associate on the deal; Nikolay Kholshev, Counsel, Andrey Neminushiy, Counsel, and Victoria Scherba, Associate.

G City Europe top executive praised ALUMNI Partners for being “efficient and experienced team with very commercial approach. Anton and the team have helped tremendously with the transaction transforming very complex legal issues to business-oriented solutions. ALUMNI’s experience in regulatory and operational matters has also helped the deal to progress a lot”.

Anton Panchenkov commented that “this transaction included extensive list of both Russian law and English law documents and intense negotiations in rapidly changing circumstances. On behalf of ALUMNI Partners team, I would like to thank our G City for their trust and the opportunity to work on such prominent deal which is one of the largest for the Russian retail business this year”.