LONDON- LAWFUEL – Press Release Service – Allen & Overy has advised Unicredito on the US$395 million acquisition of a 23% stake in International Moscow Bank (IMB) from Nordea Bank Finland Plc. The acquisition was made via Unicredito’s German subsidiary Bayerische Hypo- und Vereinsbank AG (HVB).
This deal will increase HVB’s overall shareholding in IMB’s voting capital from 52.9% to 79.3%. The transaction is expected to be completed in the third quarter of 2006.
Allen & Overy’s London and Moscow offices advised on the acquisition. Corporate partner, Pervez Akhtar, led the London team with assistance from William Ingram Hill, Angar Porthun and Mark Davis, with Tax input from Steffan Adfeldt. Corporate partner Edwin Tham led the Moscow team with assistance from Anton Mogilevsky.
Commenting Pervez Akhtar said: ” Unicredito is a key client for Allen & Overy and I am delighted that we have had the opportunity to work with the Unicredito team on this important transaction in the development of their Central and Eastern European network.”