June 15, 2007 — LAWFUEL – The US Legal Newswire – Chadbourne & Parke LLP represented Golden Telecom, Inc., a leading facilities-based provider of integrated telecommunications and Internet services in Russia and the Commonwealth of Independent States, in a share purchase and shareholders agreement with Inure Enterprises Ltd. and Rambert Management Limited.
Under the terms of the deal, which closed on May 28, Golden Telecom acquired a 51% ownership interest in ZAO Cortec together with its wholly owned subsidiaries, ZAO Investelektrosvyaz and ZAO Kabelstroy (together known as Corbina Telecom).
The deal is the third Golden Telecom transaction in recent months involving Chadbourne as counsel. Earlier this year, Chadbourne completed work for Golden Telecom on its acquisition of a 65% interest in Fortland Limited. That deal and the Corbina deal were partially financed with a $275 million syndicated loan. Chadbourne also worked on that financing.
Working for Chadbourne on the Corbina deal were Moscow office managing partner Laura Brank, Moscow partner Konstantin Konstantinov and New York partner William Greason.
Under the share purchase agreement signed in February, Golden Telecom received the majority ownership in Corbina Telecom in exchange for 8% of Golden Telecom’s common stock on a post-acquisition basis, plus $10 million in cash. The remaining 49% of Corbina Telecom is controlled by Inure Enterprises. The transaction was approved by the Federal Antimonopoly Service of Russia.
The acquisition of Corbina Telecom was a pivotal step in Golden Telecom’s broadband strategy. The company plans to roll out fiber-to-the-building networks in the top 65 cities of Russia with a combined population of 65 million people in order to enable broadband access and the provision of Triple-play services.
Golden Telecom is a Nasdaq-listed company.
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, private funds, corporate finance, energy, communications and technology, 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. Major geographical areas of concentration include Central and Eastern Europe, Russia and the CIS, the Middle East and Latin America. The Firm has offices in New York, Washington, DC, Los Angeles, Houston, London (a multinational partnership), Moscow, St. Petersburg, Warsaw (a Polish partnership), Kyiv, Almaty, Tashkent, Dubai and Beijing. For additional information, visit www.chadbourne.com.