Gide Loyrette Nouel advises Acron on contracting Vnesheconombank, Raiffeisenbank and the Eurasian Development Bank

19.12.2012 The Moscow office of Gide Loyrette Nouel advised Acron Group, a leading Russian corporation and one of the world’s major mineral fertilizer producers, in connection with contracting Bank for Development and Foreign Economic Affairs (Vnesheconombank, VEB, a major Russian bank), Raiffeisenbank, and the Eurasian Development Bank in the implementation of a project of development and expansion of the Talitsky area of the Verkhnekamsk potassium-magnesium salt deposit located in the Perm Region (Russia). The project provides for both equity and debt financing. The raised funds will be used for the construction of the Talitsky GOK, a mining and refining facility with an annual potash production capacity of 2 million tonnes. The total investment necessary for the development and expansion of the Talitsky area is estimated at USD 2 billion. The project will contribute to the de-monopolization of the Russian potash fertilizer market and enable Acron to access the market of raw materials suppliers, a new venture for the company. Additionally, the project meets priority initiatives identified in Russia's state programme for the development and regularisation of markets for agricultural goods, raw materials, and foodstuffs. Gide Loyrette Nouel's team of lawyers provided all of the legal support required for the transaction, including structuring of the deal, provision of relevant strategic advice to the client and drafting of all necessary documentation. Gide Loyrette Nouel Moscow office partner and head of the project team, Boris Arkhipov, said: "We were very pleased to implement such a complex and ambitious project together with highly qualified specialists of Acron Group. There is no doubt that this transaction has become one of the biggest to have recently taken place in this market, and we were happy to use all our experience and expertise both for further development of the business of Acron Group and for the development of the industry as a whole".

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