23 September 2024

LECAP provided legal support to the preparation of a share buyback offer within the framework of the partnership between PJSC “STG” and Promsvyazbank

On September 11, PJSC “Smarttechgroup” (“STG”, CarMoney brand) and Promsvyazbank (PSB) announced strategic cooperation for the development of joint technology projects.  Promsvyazbank intends to enter the capital of "STG" PJSC with a 25% stake in the company through the realization of a voluntary offer.

LECAP provided comprehensive legal support for the preparation of the share buyback offer. In particular, the LECAP team prepared a draft offer and coordinated its coordination with Moscow Exchange and developed a pricing mechanism for the offer aimed at determining the most fair market price for the acquisition of shares.

The LECAP team also drafted the shareholders' agreement between Promsvyazbank and the current majority shareholders and other transaction documentation.