Akin Gump Advises Mail.ru on Joint Ventures in Russia
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Akin Gump is advising Mail.ru, a leading Internet and IT company in Russia, in the creation of a digital payments joint venture (PJV) and a financial services joint venture (FSJV) with Ant Group, USM, Megafon and the Russian Direct Investment Fund (RDIF).
The joint ventures will offer digital payment solutions and financial services designed to assist consumers conducting e-commerce transactions and promote financial inclusion in Russia.
The deals are expected to close in 2021 after satisfying a number of conditions, including third-party approvals. Upon completion, Russian shareholders will own majority stakes in both the PJV and FSJV.
The Akin Gump team advising Mail.ru is led by London corporate partner Artem Faekov supported by London corporate associate Alla Barford, with assistance from corporate counsel Jingli Jiang in Beijing and associate Janice Wong in Hong Kong.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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