Jones Day represented Alfa CTC Holdings in connection with the $1.1 billion sale of its 25.1% beneficial interest in CTC Media, Inc. (CTC) to Telcrest Investments Limited. CTC, a NASDAQ-listed company (NASDAQ: CTCM), is Russia’s leading independent television broadcaster. Telcrest is a newly formed company owned by Mediaset LLC, National Media Group JSC, Abit Holdings Limited, OJSC Surgutneftegaz, and Itera Media Limited. Alfa agreed to the sale after MTG Russia, the largest shareholder of CTC, waived its rights under a right of first offer provision in the stockholders agreement among Alfa CTC, CTC, and MTG Russia.

The Jones Day team was led by Vladimir Lechtman, the Partner-in-Charge of Jones Day’s Moscow Office. The team included Nick Burgess, Sean Huber, Valentin Petrov, Irina Berdinskikh, and Maria Ankoudinova (Moscow), Marilyn Sonnie, Zoe Vantzos, Boris Dolgonos, Jerome O’Brien, and Ted Lynch (New York), Ken Krupsky (Washington), and Lee Coffey (London).

Jones Day is a global law firm practicing in the major centers of business and finance throughout the world. Ranked among the world’s best and most integrated law firms, and perennially ranked among the best in client service, Jones Day acts as principal outside counsel to, or provides significant legal representation for, more than half of the Fortune Global 500 companies.