The Law Firm "YUST" acts as a legal adviser to Asseco in a transaction of purchase of a large Russian IT company

The Polish Asseco group purchased the controlling interest of the large Russian company R-Style Softlab, on the basis of solutions of which the on-line banking for individuals functions. The price of the transaction was approximately 28 million USD. The Law Firm "YUST" represented the interests of the foreign party. In particular, the Firm’s specialists headed by Partner Artem Kukin, Associated Partners Evgeny Zhilin and Anna Kotova-Smolenskaya conducted legal due diligence of the Russian IT company and provided legal assistance to the transaction from the side of the buyer.

According to Adam Gural, General Director of Asseco Poland, the deal with R-Style Softlab opens wide possibilities of doing business in Russia and the CIS. In order to make those plans real, the shareholder intends to maintain the existing strategy of development of the Russian company – a widely diversified set of products, relations with the partners, client policy. The current team will also suffer no changes.

Partner Artem Kukin says that, since the purchase of the controlling interest of R-Style Softlab falls under special regulation of the Federal Law No. 57-FZ “On the procedure of making foreign investments into economic companies that have strategic significance for safeguarding the country’s defense and the security of the State” dated 29.04.2008, the lawyers have also rendered legal assistance in receiving the approval of the Government Commission on control over foreign investments in Russia to execute the deal. Thus, he pointed out, the project involved the leading specialists in corporate law, protection of intellectual property, antitrust regulation and foreign investments.

For reference:

Asseco Poland is a member of Asseco group of companies founded in 1989. The yearly turnover is estimated at over 1 billion USD.

R-Style Softlab counts Sberbank, Rosselkhozbank, Alpha Bank, NOMOS Bank, Svyaznoy, Home Credit and Finance et al. among its clients.

Publications on the subject:

R-Style Softlab European style // Bankir.RU
R-Style Softlab sold to Poles // C-News