Dentons has advised the minority shareholders in Russ Outdoor LLC, Russia’s largest outdoor advertising operator, on the sale of their combined 48.57% stake in the Dutch parent company, Russ Out of Home BV, to the owners of the third largest operator in the sector, Vera-Olymp. The sale price exceeded RUB 4 billion and was financed by VTB Bank, with VTB also retaining its equity interest in the company alongside JCDecaux, who will continue as a shareholder. 

The group was founded in 1995 under the name APR City, with News Corp acquiring a stake in 2000, which led the group to changing its name to News Outdoor Russia. In 2003, News Outdoor Russia became part of the News Outdoor Group, which established its headquarters in Moscow. New Corp sold its stake to a consortium of investors in 2011, with a further sale of a minority interest to the French outdoor operator, JCDecaux in 2012. 

Dentons’ Corporate partner Nadia Cansun led the transaction from Istanbul together with associates Merve Akkus and Mert Büberoğlu. Amsterdam partner Jan-Mathijs Hermans and associate Vincent Wensink advised on the Dutch law aspects of the transaction.

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