Denuo has advised Smart Service, a Russian operator led by Konstantin Kotov and Andrey Oskolkov, on the acquisition of KFC’s business in Russia from Yum! Brands, a US fast food corporation. Mr Kotov and Mr Oskolkov already own Food Service, a Russian operator of more than 40 KFC franchise restaurants.
The webinar will cover the impact of sanctions on debt capital markets transactions.
The Moscow District Arbitrazh Court upheld the position of the lower courts in relation to the validity and enforceability of the sanctions clause. Read further in our legal update on the relevance of the case and the court’s findings.
Denuo has advised Smart Service Nord on the acquisition of 100% of shares in Russian companies owned by AmRest, a European holding. AmRest used to manage over 200 KFC restaurants in Russia as a sub-franchisee.
As of 8 August, Presidential Decree No. 585 suspends certain provisions of double taxation treaties with unfriendly countries (as well as Protocols thereto, which clarify a number of provisions of the DTTs and form an integral part of such treaties). Read further in our legal update.
On 4 August 2023, the President of the Russian Federation signed Federal Law No. 422-FZ “On Amending Certain Legislative Acts of the Russian Federation” that suggests blocking (freezing) the assets of foreign persons against whom Russian special economic measures (sanctions) have been introduced. It also introduces the notion of a “blocked person” and expands the list of restrictions applicable to foreign states, organisations and nationals.