International law firm Akin Gump Strauss Hauer & Feld LLP has advised AF Telecom in relation to a shareholder restructuring of Russian mobile phone operator OJSC MegaFon with an aggregate deal value of approx. $8.5 billion. The transaction closed today, April 24, 2012.

Ropes & Gray is representing Russian Standard Corporation (with its affiliated companies, “Russian Standard”), a leading private company in Russia with business interests in premium vodka, spirits distribution, banking and insurance, in entering into a strategic alliance with Central European Distribution Corporation (Nasdaq: CEDC). The parties have signed definitive agreements that provide for an initial investment by Russian Standard of US$100,000,000 in CEDC through the purchase of a combination of newly issued shares of CEDC common stock and exchangeable notes (exchangeable into common shares of CEDC following shareholder approval) to be issued by CEDC. In addition, Russian Standard has agreed to purchase up to US$210,000,000 principal amount of newly issued, unsecured CEDC senior notes due July 31, 2016 at a blended interest rate of 6.00%. The proceeds of these investments will be used to retire CEDC’s 3.00% Senior Convertible Notes due 2013.

SNR Denton has advised HSBC Holdings PLC and its subsidiary HSBC Bank Middle East Limited (HSBC) on the merger of HSBC’s operations in the Sultanate of Oman with publicly-traded Oman International Bank SAOG (OIB).

Dewey & LeBoeuf has been retained by Alhamrani Group in the sale of shares of Alhamrani Fuchs Petroleum Saudi Arabia Limited (“AFPSA”). AFPSA is known as the biggest independent producer of lubricants in the Gulf region. This private equity transaction is expected to be the biggest in the Gulf region in 2012.

Dewey & LeBoeuf has represented the financial advisor and underwriter, Saudi Fransi Capital, in a rights issue by Sahara Petrochemicals Company, a Saudi Stock Exchange-listed issuer. The issuance of 225,370,851 shares of the company raised SAR 1,462,650,000 (US $390,040,000).

Continuing the expansion of its intellectual property practice, Cozen O’Connor announced that former Connolly Bove Lodge & Hutz Partner Louis M. Heidelberger joined the firm’s IP group as a member in the Washington, D.C., office. The announcement comes on the heels of Cozen O’Connor’s recent hiring of nine IP attorneys from Duane Morris, including seven members; five of those also in the Washington, D.C., office.