Debevoise & Plimpton LLP has advised Sberbank on acquisition of a 75% stake in 2GIS. 2GIS is an international digital maps and city guides company that provides geoinformation and hyperlocal services to about 50 million users (MAU) in Russia, the CIS and abroad.
As a result of the transaction, the share of Sberbank will be 72%, and the share of O2O Holding LLC (a foodtech and mobility JV between Sberbank and Mail.ru) will be 3%. The founders and management of 2GIS will retain a 25% stake in the company.
The transaction closing is expected after receiving approval from the antitrust authorities and meeting conditions precedent in 3Q20.
Sberbank’s integration with 2GIS will accelerate the development of various areas of Sberbank’s business and ecosystem, as well as joint ventures of Sberbank and Mail.ru Group, such as Citimobil, Delivery Club, SberFood, Samokat, etc. In addition, 2GIS’s services will be integrated with banking applications for individuals and corporate clients.
The Debevoise team was led by partner Alyona Kucher and included international counsel Anna Maximenko and Evgeny Samoylov and associates Vadim Kolomnikov, Nikolay Kiselev, Elena Klutchareva, Charles Low, Daria Serebrova, Olga Panfilova, Anastasia Magid and Alexey Khnalkov.