Baker McKenzie advised Nokian Tyres plc on the sale of its Russian operations to Tatneft PJSC. The transaction was signed in October 2022. After the approval of the Russian Governmental Commission, Nokian Tyres received a payment of EUR 285 million from PJSC Tatneft on 16 March 2023.
"This transaction is a prime example of our seamless cooperation across borders. We helped our client Nokian Tyres to navigate through the complexities associated with an exit from Russia drawing on our experience in similar transactions," commented Peter Wand, lead partner of the transaction.
Nokian Tyres develops and manufactures premium tires for people who value safety, sustainability, and predictability. In 2022, Nokian Tyres employed some 4,500 people and the company’s net sales were EUR 1.77 billion. Nokian Tyres is listed on Nasdaq Helsinki.
Baker McKenzie's Corporate/M&A teams regularly advise on domestic and international transactions. Most recently, Baker McKenzie advised, among others, First Solar on sale of its international O&M business to NovaSource, Sika on divestment of business of MBCC Group to INEOS, Fluidra on its acquisition of Meranus Group, Magna on the acquisition of Veoneer's Active Safety Business, MicroVision on the acquisition (asset deal) of the business of Hamburg based Ibeo Automotive Systems, Trane Technologies on the acquisition of AL-KO Air Technology, Pacoma on the sale to L&P, Deutsche Beteiligungs AG (DBAG) on its investment in vhf Group,VINCI Energies S.A. on the acquisition of parts of Kontron AG, AURELIUS on the acquisition of AGFA Offset Solutions and of Footasylum from JD Sports, FUNKE Digital on the acquisition of Baseplus DIGITAL MEDIA GmbH.
Legal advisor to Nokian Tyres plc:
Baker McKenzie
Lead:
Corporate/M&A: Peter Wand (partner, Frankfurt)
Team:
Corporate/M&A: Denise Tayler, Dominic Boeschen (both associates, Frankfurt), Nick Bryans (partner, London), Ben Saraci, Wian Steyn (both senior associates, London), David Woodcock, Debaditya Datta (both associates, London)
Sanctions: Anahita Thoms (partner, Duesseldorf), Alexander Ehrle, Kimberley Fischer (both associates, Berlin), Sunny Mann (partner, London), Andrew Rose and Ross Evans (both senior associates, London), Paul Amberg (partner, Madrid)
IP: Michael Fammler, Rembert Niebel (both partners, Frankfurt)
IT: Holger Lutz (partner, Frankfurt)
Capital Markets: Christoph Wolf (partner, Frankfurt)
Antitrust: Nicolas Kredel (partner, Duesseldorf), Jonas Brueckner (counsel, Berlin)
Dispute Resolution: Joanna Ludlam (partner, London), Richard Molesworth (associate, London)
Melling, Voitishkin & Partners
(formerly Baker McKenzie Russia)
Maxim Kalinin (partner, St. Petersburg), Margarita Divina (partner, Moscow), Olga Anikina (counsel, St. Petersburg), Anton Nazarenko (associate, Moscow), Olga Pankova (associate, St. Petersburg), Roman Vlasov (associate, Moscow)