Insights | Denuo

Denuo assisted Yandex in its acquisition of eLama, an advertising technology platform

Thanks to the deal, Yandex is purchasing not only a technology platform, but an experienced team of eLama’s professionals who will contribute to the further development of the platform service.

Russian Government approves the list of economically significant organisations

In early September 2023, the Law on so-called “economically significant organisations” entered into force, which makes it possible to suspend, via a court procedure, the corporate rights of foreign holding companies in relation to ESOs and also offers an opportunity for ESOs’ beneficial owners to take direct ownership of the shares/participation interest in ESOs. Until recently, there was no list of ESOs approved by the Russian Government. However, on 4 March 2024, the Russian Government published the first version of such list which includes six Russian companies. For more details on the contents of such list and its consequences for ESOs, please read our latest legal update.

Denuo advises Samolet on bank acquisition in Russia

Denuo has advised Samolet, one of the largest proptech and real estate development corporations in Russia, on the acquisition of Russian commercial bank Sistema from a private owner. The bank had over RUB1 billion in equity capital at the time of its acquisition.

15 / 03 / 2410:30am msk

Disclosure of information on corporate agreements: legislative regulation and current issues

EU adopts 13th package of sanctions against Russia

On 23 February 2024, the EU published new regulations formalising the 13th package of restrictive measures (sanctions) of the European Union.

US introduces new blocking sanctions against Russia

On 23 February 2024, the US President announced a record number of sanctions against Russia, over 500 new restrictions on Russian and foreign persons. The new sanctions restrictions are for the most part made of blocking sanctions. The US Department of the Treasury’s Office of Foreign Assets Control has published an updated specially designated nationals list.

UK introduces new sanctions against Russia

On 22 February 2024, the UK announced new blocking sanctions that affected 50 Russian and non-Russian individuals and businesses linked to the Russian defence industry, metals industry, the manufacture and supply of electronics, diamonds, energy trade, etc.

Denuo ranked among 2023 top ten M&A advisors in CEE by Mergermarket

Denuo is at ninth place by M&A deal count in Central and Eastern Europe according to the Mergermarket Global and Regional M&A Legal Advisory Rankings for the full year of 2023. Denuo remains the only law firm with Russian presence ranked in the report.

Resolution of the Plenum of Russia's Supreme Court on unauthorised construction

In December 2023, the Plenum of the Supreme Court of the Russian Federation adopted a Resolution containing extensive clarifications regarding unauthorised construction. In our legal update, we have highlighted what we consider to be the most useful and interesting provisions of the Resolution.

Draft law on reforming the procedure for acquiring large shareholdings in PJSCs submitted to the State Duma

On 25 December 2023, a draft Law was brought in the State Duma of the Russian Federation aimed at improving the regulation of the procedure for acquiring large shareholdings in PJSCs. The authors of the draft law believe that the abovementioned changes will help boost investor confidence in the Russian financial market. Read further in our legal update.