Debevoise & Plimpton LLP has advised PJSC MegaFon (“MegaFon”) in its recently completed transaction with SLV Group (“SLV”) to merge the Svyaznoy and Euroset retail chains.
The combined company operates the largest technology retail chain in the world by number of stores (more than 5,000), with the target of increasing the accessibility and consumer understanding of modern high-tech products. The combined company has more than 30,000 sales consultants.
Under the terms of the agreement, Lefbord Investment Limited (“Lefbord”), a wholly-owned subsidiary of MegaFon, contributed its 100% interest in Euroset Holding N.V., which owns the operating companies of Euroset, to DTSRetail LTD, which also owns the operating companies of Svyaznoy.
As a result, Lefbord will receive a 25% plus one share interest, and two seats on the board of directors of the combined company. SLV will become the controlling shareholder of the merged company.
The Debevoise team advising MegaFon was led by Moscow-based international counsel Maxim A. Kuleshov, and included associates Oleg V. Semenov and Tamara S. Kulyk.
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