Marc Polonsky is a partner in the Energy, Infrastructure, Project and Asset Finance Group in London. Marc has advised investors, project sponsors and lenders on acquisitions, disposals, joint ventures and financings, with a particular focus on the natural resources and infrastructure sectors in Russia/CIS and CEE.
Representative transactions include:
- Representation of DTEK, the Ukrainian energy company, in connection with an acquisition of coal assets in Russia;
- Representation of Hess Corporation in connection with several oil and gas acquisitions in Russia's Volga-Urals region;
- Representation of Korea National Oil Corporation (KNOC) in connection with its joint venture with Rosneft for the exploration and development of the West Kamchatka offshore field;
- Representation of MOL Plc in connection with its acquisition of Matyushkinskaya Vertikal, a Russian oil company;
- Representation of Lafarge in connection with its acquisition of Karelnerud (one of the largest manufacturers of aggregates in North-West Russia);
- Representation of PetroNeft Resources Plc in connection with its listing on the AIM segment of the London Stock Exchange and the Irish Stock Exchange and on its E&P activities in Russia (including its joint venture with Arawak and its $75 million borrowing base facility from Macquarie Bank);
- Representation of UPM, one of the world's leading forest products groups, in connection with the establishment of a 50/50 joint venture with Sveza Group, a leading wood processing company in Russia, for the development of a pulp plant in Vologda, northwest Russia; and
- Representation of, as common counsel, export credit agencies, multilateral lenders and commercial bank lenders in connection with the US$20 billion project financing of the Sakhalin II (Phase 2) LNG Project in Russia.
- Representation of Alstom Holding in connection with its joint venture with Atomenergomash for nuclear power activities;
- Representation of the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) in connection with the US$115.5 million loan to finance construction of the 87-MW Paravani hydro power plant in Georgia;
- Representation of European Investment Bank (EIB) in connection with its €250 million loan to Enel OGK-5, a Russian wholesale power generation company (EIB's first loan to the Russian power generation sector);
- Representation of EBRD in connection with a US$120 million project financing to UgraGas Processing, for the construction and operation of a gas processing plant and a gas piston power plant in Russia's Khanty-Mansiysk region;
- Representation of EBRD in connection with a €150 million syndicated loan to upgrade Latvenergo's Riga CHP-2 power plant in Latvia; and
- Representation of TNK-BP in connection with a gas-to-power joint venture with OGK-1, the largest Russian wholesale power generation company.
- Representation of the Asian Development Bank, DEG and EBRD in connection with the financing of a new passenger terminal at Zvartnots International Airport, Armenia;
- Representation of a consortium led by Autostrade Per l'Italia in connection with a bid to build/operate a new exit from the Moscow-Minsk highway;
- Representation of EBRD, NIB and other lenders in connection with the €190 million project financing of the construction of a wastewater treatment plant in St. Petersburg, Russia and its subsequent refinancing;
- Representation of the Hochtief / Renova consortium in connection with its bid for a concession to develop and operate Pulkovo International Airport, St Petersburg;
- Representation of Macquarie Renaissance Infrastructure Fund (MRIF) in connection with its US$125 million investment in Brunswick Rail Limited, Russia's largest privately-held rail rolling stock leasing company; and
- Representation of MRIF in connection with its participation in a US$100 million investment round in Russian Towers, a growing telecom tower infrastructure provider in Russia.
- Representation of Bank of Cyprus in connection with the US$576 million acquisition of Uniastrum Bank, one of the leading private banks in Russia;
- Representation of Bank Hapoalim (one of the largest Israeli banks) in connection with its proposed acquisition of SDM Bank;
- Representation of EBRD in connection with the acquisition of a 10 percent stake in RESO Garantia, the Russian insurance company;
- Representation of EBRD and DEG in connection with their further investments into Transcapitalbank, Russia; and
- Representation of Société Générale in connection with a US$1.7 billion multi-stage acquisition of a majority stake in Rosbank (Russia's largest privately- owned retail bank).
- Representation of EBRD, NIB and EIB in connection with their €420 million loan to Mobile Telesystems (MTS), the major Russian telecoms operator;
- Representation of EBRD in connection with a EUR 80 million loan to Metro for the construction of fifteen cash and carry stores in the major cities of the Republic of Kazakhstan; and
- Representation of KONE Corporation, a major international elevator company, in connection with a joint venture arrangement with a major Russian elevator company, and assisting with structuring its Russian operations, including production arrangements.
Bars and Courts
England and Wales, 1993
Law Society Finals, London Guildhall University, 1990
MSc, Imperial College of Science, Technology and Medicine, London, 1984
BA, University of Oxford, 1983
Co-authored "Russia” in the Foreign Investment Review 2012 of Getting the Deal Through
Co-authored a chapter in Practical Law Company (PLC) Cross-border Environment Handbook 2010/11 on "Regulatory Framework in the Russian Federation"
Co-authored "Foreign Investment in Russian Oil and Gas: Will 2008 Bring New Restrictions?" in the Q1 2008 issue of Bloomberg Law Review
Co-authored "Overview of Russian Oil and Gas Legislation" in the June 2005 issue of the Oil, Gas and Energy Law internet portal magazine
Co-authored "Participation in Subsoil Use Auctions: Law and Practice" for the May/June 2005 issue of Oil, Gas and Law magazine