November 17, 2006 -LAWFUEL – Law News, Law Jobs Network – Chadbourne & Parke LLP represented Vimpel-Communications (VimpelCom, NYSE: VIP) in an agreement with Hellenic Telecommunications Organization to acquire 90% of CJSC Armenia Telephone Company (Armentel).
The purchase price was €341.9 million (US$434.3 million) plus the assumption of approximately €40 million (US$50.8 million) in net debt and obligations. The deal closed on November 16.
Armentel is a fixed-line and mobile operator in Armenia with licenses in the GSM-900 and CDMA standards. Armentel’s subscriber base includes approximately 600,000 fixed-line subscribers and 400,000 GSM subscribers.
Working on the deal for Chadbourne were Laura Brank, head of the Russia & CIS Practice, and Moscow partners Konstantin Konstantinov and Christopher Owen, as well as London partner Charez Golvala and Moscow counsel Evgenia Korotkova.
The VimpelCom Group includes cellular companies operating in Russia and Kazakhstan and recently acquired cellular operators in Ukraine, Tajikistan, Uzbekistan and Georgia. The VimpelCom Group’s cellular license portfolio covers a territory with a population of about 237 million.
VimpelCom is a leading international provider of mobile telecommunications services in Russia and Kazakhstan, with recently acquired operators in Ukraine, Uzbekistan, Tajikistan and Georgia. The VimpelCom Group’s license portfolio covers approximately 237 million people. Geographically it covers 78 regions in Russia (with 136.5 million people, representing 94% of Russia’s population) as well as the entire territories of Kazakhstan, Ukraine, Uzbekistan, Tajikistan and Georgia.
About Chadbourne & Parke LLP
Chadbourne & Parke LLP, an international law firm headquartered in New York City, provides a full range of legal services, including mergers and acquisitions, securities, project finance, corporate finance, energy, telecommunications, commercial and products liability litigation, securities litigation and regulatory enforcement, special investigations and litigation, intellectual property, antitrust, domestic and international tax, insurance and reinsurance, environmental, real estate, bankruptcy and financial restructuring, employment law and ERISA, trusts and estates and government contract matters. The Firm has offices in New York, Washington, D.C., Los Angeles, Houston, Moscow, St. Petersburg, Kyiv, Almaty, Warsaw (through a Polish partnership), Beijing, and a multinational partnership, Chadbourne & Parke, in London. For additional information, visit www.chadbourne.com.