Privatization
Planning and implementation of privatization transactions require highly organized approach and knowledge of the transaction’s process and structure as well as related risks.
Law Firm Liniya Prava has acquired significant experience in this sphere allowing us to successfully complete privatization projects of various degree of complexity.
Pursuant to Federal Law #178-FZ of December 21, 2001 "On Privatization of State-Owned and Municipal Property", as well as based on experience in supporting such transactions, the role of legal advisers in privatization of government-owned blocks of shares in open joint-stock companies via contributing as an investment in the Chartered Capital of open joint-stock companies could be reduced to the following services (by the transaction stages):
1. Preparatory pre-privatization activities
(1) Preparation of the detailed schedule of the project realization.
(2) Preparation / analysis of draft Resolutions by the Government of the Russian Federation on privatization of government-owned property - block of shares in open joint-stock company by contributing as payment for additionally placed shares with simultaneous increase in the Chartered Capital of joint-stock company.
(3) Analysis of independent appraiser reports to determine the market value of privatized shares in the open joint-stock company, as well as the market value of shares in the open joint-stock company being bought with the privatized shares. Preparation / analysis of the offer on exchange coefficient.
(4) Preparation / analysis of draft executive documents by the Federal Agency on Federal Property Management, by other executive bodies issued pursuant to the Directive by the Government of the Russian Federation on privatization of government-owned shares in open joint-stock companies.
(5) Preparation of application to the Federal Antimonopoly Service with a view to reconcile transaction to acquire government-owned shares in open joint-stock company by another joint-stock company (if applicable).
2. Preparation of corporate decisions
(1) Preparation / examination of draft corporate decisions of an open joint-stock company in connection with increase in its chartered capital via placement of additional shares paid for with the Government owned shares in the open joint-stock company.
(2) Preparation of issuing documents for an additional stock issue to be placed via closed subscription and paid for with the Government owned shares in the open joint-stock company.
(3) Providing counsel in respect of information disclosure in the course of additional stock issuing (if applicable).
3. Closing the deal
(1) Support for the state registration of an additional stock issue of an open joint-stock company
(2) Support for opening by a joint-stock company placing its additional shares, a personal account in the shareholder register of the open joint-stock company, which shares will be used to pay for the additionally placed shares.
(3) Support for registering the additional shares with the personal account of the Federal Agency for Federal Property Management - the representative of the state.
(4) Support for crediting the privatized shares at the personal account of the joint-stock company placing additional shares.
(5) Solving corporate governance problems in respect of the joint-stock company, which shares are being privatized (if applicable), including amendments to its charter, and other changes to the Unified State Register of Legal Entities, not associated with amendments to the Articles of Incorporation.
Related practicesRelated deals
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30.07.2010
