RDIF, RCIF, and Leading Middle Eastern Funds’ RUB 4 Billion Acquisition of Minority Stake in OBL Pharm

Latham & Watkins advised Sistema PJSFC in the transaction.

Sistema PJSFC is a publicly traded diversified Russian holding company.

The company announced that a consortium of investors comprising the Russian Direct Investment Fund (RDIF), the Russia-China Investment Fund (RCIF) established by the RDIF and China Investment Corporation, and leading Middle Eastern funds (the Investment Consortium) completed the acquisition of a minority stake in OBL Pharm for an amount exceeding RUB4 billion.

Upon completion of the transaction, the Investment Consortium’s effective stake will be 28%, VTB Bank will own 46% and Sistema will hold 13%.

Latham & Watkins advised Sistema in the transaction with a Moscow team led by corporate partner Olga Ponomarenko (Picture) with associates Timur Bayramov, Oksana Uberwolf, and Vladimir Mikhailovsky.

Involved fees earner: Timur Bayramov – Latham & Watkins; Vladimir Mikhailovsky – Latham & Watkins; Olga Ponomarenko – Latham & Watkins; Oksana Uberwolf – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Sistema JSFC;