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White & Case Advises IVI on Financing

Global law firm White & Case LLP has advised leading Russian online video streaming service IVI on a landmark financing from Alfa-Bank, one of the major Russian banks.

“Our cross-practice team of finance, M&A, tax and disputes lawyers worked closely with the client to reach successful financial close,” said White & Case partner Natalia Nikitina, who led the Firm's deal team. “The transaction showcases our established strengths advising on deals in the quickly growing online entertainment and media industry.”

The deal is a benchmark in the rapidly growing Russian video services market; IVI is the first online service to attract external financing instead of using its own equity funds. The bank provided IVI with a venture loan with a maturity of six years. According to the terms of the transaction, Alfa-Bank also received the right to acquire 2.5 percent of the company’s equity under a warrant agreement.

IVI is a leading Russian online video streaming service which offers licensed video content, including more than 65,000 movies, TV shows, cartoons and music videos. It is the largest service in this market in Russia and has been called ‘the Netflix of Russia’.

The White & Case team which advised on the transaction was led by partner Natalia Nikitina and included partner Irina Dmitrieva, local partners Ekaterina Logvinova and Dmitry Lapshin, counsel Pavel Boulatov and Adam Smith and associates Azamat Gaisenov, Adel Shageev and Roman Kudryavstev.

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