White & Case Advises Yandex on Acquisition of Property Site for Moscow Headquarters
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Global law firm White & Case LLP has advised Yandex, one of Europe's largest internet companies and the leading search provider in Russia, on its proposed acquisition of rights to an approximately four hectare plot of land situated at Kosygina Street in Moscow for the construction of its new headquarters.
The total acquisition cost of the land will be approximately US$145 million.
"The White & Case team has advised multinational tech giant Yandex on a strategic development transaction in Russia," said partner Eric Michailov, who co-led the Firm's deal team.
Counsel Daria Plotnikova, who co-led the team, said: "Corporate, real estate, banking and litigation lawyers in our Moscow team worked side-by-side with Yandex for more than a year to develop the structure and bring this multi-layered, landmark transaction to a successful signing."
White & Case advised Yandex on a series of agreements with the owner of the principal facility at Kosygina Street, as well as a number of additional owners of smaller adjacent facilities. The closing of the site acquisition remains subject to certain conditions, including further approvals by the Moscow City Government.
The White & Case team which advised on the transaction was led by partner Eric Michailov (London & Moscow) and counsel Daria Plotnikova (Moscow), and included local partner Ekaterina Logvinova (Moscow), counsel Pavel Boulatov (Moscow) and associates Timofey Neklyudov, Evgeny Chernyavsky, Adel Shageev, Maria Kulmukhametova and Alexander Sysoev (all Moscow).
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