LawFuel – Legal Announcements & Business – International law firm Clifford Chance is advising Barclays Bank Plc on its acquisition of 100% of Expobank, a Russian retail and commercial bank, for a consideration of approximately US$ 745 million. The proposed acquisition forms part of Barclays strategy to invest in emerging markets with good growth characteristics.
Alex Erasmus, a corporate partner at Clifford Chance in Moscow, comments “We are delighted to be advising Barclays on this acquisition and to be able to service our global clients wherever it is required”.
The Russian financial services sector is particularly active at present and is a key area of focus for Clifford Chance who have established a dedicated team, headed by Alex Erasmus, to meet the increasing demand for specialist knowledge in this sector. Clifford Chance already has extensive experience advising banking and insurance clients and other recent significant transactions on which they have acted include AXA’s acquisition of a 33% interest in Reso Garantia and Marfin Popular Bank’s purchase of a majority stake in Rosprombank.
For further information about this release contact Nicola Hodgson on +44 20 7006 1403 or Yulia Meshcheryakova on + 7 495 725 6442.