Goltsblat BLP advises Hals-Development on VTB Loan Finance as part of Moscow City Business Centre Development Project.

02.07.2012

Goltsblat BLP has successfully advised major Russian developer, Hals-Development, and its CiTer Invest B.V. subsidiary joint venture, on obtaining loan funds from VTB Bank for development of its Moscow City Business Centre, plot 11 project.
The project will see a 230,000 sq.m. site developed to accommodate one of the biggest transportation hubs in Moscow, including bus stations, taxi stands, car hire offices, and a railway station with rapid transit trains running to Vnukovo and Sheremetyevo airports. The complex will also include two office buildings and a four-star hotel.  The project follows the 2011 acquisition of a controlling stake in CiTer Invest B.V., which holds the development rights to plot 11, by Hals-Development.

The project provides for four types of collateral granted under three different legal jurisdictions. Goltsblat BLP support coordinated lawyers in six jurisdictions – Netherlands, Russia, UK, Cyprus, Luxembourg and Curaçao (former Netherlands Antilles), working closely with Dmitry Grinin, Vice President and Director of the Hals Development Legal Department, and his team of professionals, in dealing with very complicated legal issues, and developing intricate and comprehensive outcomes, vital to the success of the project.

Andrey Goltsblat, Managing Partner at Goltsblat BLP, said the role highlighted the confidence major clients have in Goltsblat BLP’s handling of complex international projects.   

"It has been a pleasure to support OAO Hals-Development in a major strategic project. The role has demonstrated, once again, our expertise and professionalism in handling cross-border transactions. It is of the utmost importance for our major clients that they are certain of our ability to get results they need in a complex international environment."

The transaction team was led by Managing Partner, Andrey Goltsblat, and Anton Panchenkov, Senior Associate, Corporate/M&A. The transaction also involved Anton Sitnikov, Partner and Head of Corporate/M&A, Ian Ivory, Partner and Head of English Law and Corporate Finance, Oleg Khokhlov, Partner, Banking and Finance, and a number of Goltsblat BLP Corporate/M&A associates: Associate Dmitri Antipin, Associate Mikhail Tararouev, Junior Associate Kamilla Zagidullina, and Junior Associate Maria Kuzmina.

Contact details

For all issues related to publications, news and press releases, please contact:

Ksenia Soboleva

Head of PR and Communications

Subscription

If you would like to receive our legal alerts and updates highlighting current legal issues relevant to your areas of interest and providing expert commentary by our lawyers, please click on "Sign Up" and fill out the form.