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Dewey & LeBoeuf Advise on Rare Private Equity Investment in Russia's Largest Privately Owned Bank
9 November 2009
Dewey & LeBoeuf Advise on Rare Private Equity Investment in Russia's Largest Privately Owned Bank

Rare Private Equity Investment in
Russia's Largest Privately Owned Bank

Dewey & LeBoeuf has advised client Russia Partners, which is managed by New York investment firm Siguler Guff, in a rare private equity investment in a Russian bank. Russia Partners acquired a 3.3 percent stake in MDM Bank, Russia's largest privately owned bank, from Russian conglomerate SM Group. The transaction has received substantial attention because foreign investment funds have made few significant investments in Russia this year, and almost none in the financial services sector. The value of Russia Partners’ investment was not disclosed, but analysts have valued MDM Bank at about $3 billion to $4 billion, or 1.5 to 2 times book value, following its merger with another prominent Russian bank earlier this year. Brian Zimbler and Vasilisa Strizh (Moscow) and Amy Comer (London) negotiated and closed the transaction

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