Hogan Lovells advised worldwide construction and industrial group Bilfinger Berger, a Germany listed vehicle with multibillion Euro assets, on the establishment of its first Russian joint venture with Russian major power plant outfitter Tyazhmash. A Bilfinger Berger group company, Babcock Borsig Steinmueller, GmbH will hold a 51 percent stake in the new joint venture company ZAO Bilfinger Babcock Tyazhmash. The deal was closed on 27 March 2012.

This is Bilfinger Berger’s first joint venture in Russia. The joint venture will focus on the modernization of Russian power plants and the nuclear energy sector. Prospective customers of this joint venture are expected to be major Russian state-controlled corporations.

The Hogan Lovells Moscow team advising Bilfinger Berger was led by Oxana Balayan, Managing Partner and Head of Moscow corporate practice, and consisted of Maria Baeva (Counsel, corporate), Leonid Ervits (Senior associate, corporate) and Ekaterina Stepanischeva (Associate, corporate). 

Hogan Lovells advised the client on all aspects of the deal, including framework and shareholders arrangements as well as IP rights and corporate documentation of the Russian corporate vehicle. 

Oxana Balayan comments:

“We are proud to have been invited by Babcock to advise on this strategically important joint venture. Needless to say, we look forward to building a wider relationship with this client.”