PSB Bank’s entry into Carmoney’s capital
2024
Corporate Governance and M&A
key aspects
PAO Smarttekhgrupp ("STG", CarMoney brand) and Promsvyazbank ("PSB") announced a strategic partnership to develop joint technology projects, as a result of which PSB decided to acquire a 25% stake in STG.
To achieve this goal, PSB announced a tender offer to buy shares on the exchange using the Dutch auction model. PSB and STG’s shareholders entered into a shareholders’ agreement and option agreements. STG resolved to increase its charter capital through the placement of additional ordinary shares in favor of PSB and its successors
LECAP scope of work
LECAP provided comprehensive legal support for the above actions, including:
preparing the draft offer and coordinating its approval with the Moscow Exchange;
developing the pricing mechanism for the offer aimed at determining the most fair market purchase price for the shares;
developing the shareholders’ agreement between PSB and the current majority shareholders;
developing the option agreement.
Key product modules used in implementing the project
All products