Goltsblat BLP provided legal support for Rolf Group in their business consolidation with Pelican-Auto
Goltsblat BLP, the Russian practice of the international law firm Berwin Leighton Paisner (BLP), advised and represented Rolf Group, the biggest Russian car dealer, which completed the deal contemplating its business consolidation with Pelican-Auto group.
The parties’ representatives officially announced the merger of Pelican-Auto and Rolf Group on 2 March at a joint press-conference. They described the deal as revolutionary for the Russian car retail market in that it is non-cash and provides for the share exchange rather than the buyer leaving the business. The merger and subsequent synergy of technologies will enable the joint company to boost its efficiency, enrich its portfolio with new brands and increase its market share.
The Goltsblat BLP corporate team was led by Head of Group Anton Panchenkov, while Head of Corporate, Partner Anton Sitnikov performed overall project coordination. Partner Ian Ivory, Senior Associates Nikolay Kholshev and Andrey Neminuschiy, as well as Junior Associate Mikhail Filatov were also on the team.
Rolf Group and Goltsblat BLP representatives comment on their joint project work:
Igor Salita, Rolf Group Chairman: “I am grateful to Goltsblat BLP leaders and the team for the highly professional legal support they provided to our M&A team in this strategically important deal, which strengthened our leading position on the Russian car market and set up a unique platform for further consolidation of car dealers.”
Anatoly Kairo, Rolf Group Director noted that “the Goltsblat BLP team has shown its worth: their legal assistance with structuring, legal drafting and support throughout the transaction has at all times been prompt and highly professional. Key associates also proved very valuable at the negotiating table and in resolving intricate legal issues under Russian and Cyprus law.”
Andrey Goltsblat, Managing Partner of Goltsblat BLP and Anton Sitnikov, Partner and Head of Corporate, Goltsblat BLP said,”We are glad that the deal is successfully completed and would like to congratulate our client and all those involved in the project. We are grateful for yet another opportunity to be of assistance to our client Rolf Group: we are pleased and honoured to have worked with them for many years now. We hope this transaction will further strengthen Rolf Group’s position on the market and push up its profitability ratio.”
The Goltsblat BLP Corporate Practice, one of the biggest in Russia, brings together a team of highly qualified experts with extensive experience in handling international project transactions of any scope and complexity. The global Corporate Practice consists of more than 230 lawyers, most of them based in London and Moscow, with others in BLP offices in Abu Dhabi, Beijing, Berlin, Brussels, Dubai, Frankfurt, Hong Kong, Paris, Singapore, Tel-Aviv and Yangon.