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Allen & Overy advises Société Générale on the sale of Rosbank and its Russian subsidiaries

Allen & Overy has advised Société Générale on the sale of its entire stake in Rosbank and the Group’s Russian insurance subsidiaries to Interros Capital, the previous shareholder of Rosbank.

This transaction was subject to the approvals of the relevant regulatory and anti-trust authorities, and was conducted in compliance with the legal and regulatory obligations in force at the time.

With such approvals having been obtained, the sale of Rosbank and its Russian subsidiaries was concluded after several weeks of intensive work, and Société Générale thus exits Russia in an effective and orderly manner, ensuring continuity for its employees and clients.

Allen & Overy supported the Société Générale teams, themselves highly mobilized, on the various legal aspects of this transaction which was carried out in a very specific context and with very strong involvement of the Paris, London and Moscow offices.

The Allen & Overy team was led by Jean-Claude Rivalland (Partner, Paris), Hugh Robinson (Partner, London) and Christine Fong (Senior Associate, Singapore) with support from Marie Silvain (Associate, Paris) and Kate House (London) on the corporate aspects.

The team also included :

 Anton Konnov (Partner, Moscow), Aleksey Mareev (Senior Associate, Moscow) and Alexander Ivanov (Associate, Moscow) on Russian law advice ;
 Matthew Townsend (Partner, London), Jonathan Benson (Counsel, London), Tom d'Ardenne (Senior Associate, London) and Tan Ming He (London) on sanctions advice ;
 Ken Rivlin (Partner, New York) and Maura Rezendes (Partner, Washington) on US sanctions advice ;
 James Freeman (Partner, London), Joanne Lau (Partner, Hong Kong), Andrey Panov (Counsel, Moscow) and Karen Birch (PSL Counsel, London) on arbitration advice ;
 Sergey Blinov (Counsel, Moscow) and Alexander Kitaev (Associate, Moscow) on Russian banking law advice ;
 Mathieu Vignon (Partner, Paris) and Ageu Pires (Senior Associate, Paris) on tax advice ;
 Jim Ford (Partner, London) and Megan McMellon (Associate, London) on transitional services advice ; and
 David Norman (Partner, Hong Kong) and Joyce To (Associate, Hong Kong) on Hong Kong law advice.