White & Case Advises Nordea on Acquisition of JSB Orgresbank's Remaining Shareholding
Nordea consolidates control and to increase JSB Orgresbank’s equity capital with new issue of €100m

London, Moscow, Stockholm, January 6, 2009 ... Global law firm White & Case LLP has advised Nordea, the leading financial services group in the Nordic and Baltic Sea Region, on its agreement to acquire the remaining 17.7 percent in Russian bank JSB Orgresbank from the two management shareholders and the European Bank for Reconstruction and Development. Nordea will also subsequently increase the equity capital of JSB Orgresbank through a new issue of approximately €100 million. The transaction with the European Bank for Reconstruction and Development is subject to regulatory approvals and is expected to be completed in the first quarter of 2009.

White & Case also advised Nordea on its initial acquisition of 75 percent of JSB Orgresbank's shareholding which completed in March 2007.

"We are delighted to have assisted Nordea in completing its acquisition of the remaining shareholding of JSB Orgresbank, which once completed will give them full ownership of this leading Russian bank," commented White & Case partner Alan Burke. "This most recent transaction adds to our Firm's wealth of experience advising on M&A transactions and capitalisations in the Russian banking sector."

The White & Case team advising Nordea on the acquisition was led by Corporate partner Alan Burke working closely with Corporate partner Peter Finlay, assisted by senior associates Anna Krupkina and Anna Maximenko. The Nordea in-house legal team was led by senior legal counsel Maria Snöbohm.

White & Case has acted on over 25 major financial institution acquisitions in Russia over the last three years.

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Ian Kitts
EMEA Media Relations & Corporate Communications Mgr, White & Case
44 (0) 20 7532 2857 


Erica Howard
Media Relations Executive, White & Case 
44 (0) 20 7532 2852