Linklaters advised VTB Capital, and Renaissance Capital and CLSA Ltd on the sale by Onexim Holdings Ltd of a c.3% stake in UC Rusal.

UC Rusal is one of the largest aluminium producers in the world, with ordinary shares listed on the Hong Kong and Moscow Stock Exchanges. It is also listed on Euronext Paris in the form of Global Depositary Shares (GDRs) and Moscow Exchange in the form of Russian Depositary Receipts (RDRs).

Linklaters Hong Kong-based partner Alex Bidlake, commented:

“In terms of deal size, this placing represented one of the largest Russian equity transactions in the last 3 years and involved our teams across Hong Kong, London and Moscow. It also closely follows UC Rusal’s US$600m Eurobond issue on which Linklaters acted as advisor to the managers.”

The transaction was led by Linklaters’ Hong Kong Corporate partner Alex Bidlake, London Capital Markets partner and associate Jason Manketo and Joseph Wolpin and Moscow Capital Markets partner Dmitry Dobatkin.