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A Globalized National Law Firm

A Globalized National Law Firm. Dimitry Afanasiev Chairman, Egorov Puginsky Afanasiev & Partners. Global Top-100. Among the global top-100 law firms : 75 from the USA 17 from Great Britain 4 from Australia 1 from Canada , France , Spain and Holland. Прибыль. Total Income.

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A Globalized National Law Firm

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  1. A Globalized National Law Firm Dimitry Afanasiev Chairman, Egorov Puginsky Afanasiev & Partners

  2. Global Top-100 • Among the global top-100 law firms: • 75from the USA • 17from Great Britain • 4from Australia • 1from Canada, France, Spain and Holland

  3. Прибыль Total Income • The total income of the top-100 law firms in 2007 • Leaders areClifford Chance ($2.2 bln) andLinklaters ($2.1 bln). $67.4 bln Source:The American Lawyer

  4. Income per Partner • Average income per partner in leading global law firms (Linklaters, Slaughter and May, Wiley Rein): $1.3+mln A year income of the best lawyers in the City $4+mln

  5. Globalization of the Legal Business • In 2007 the leading 250 law firms in the United States had • lawyers in their abroad offices. 15 000 +

  6. Globalization “Activists” • The most “globalized” law firm in the world is • Baker & McKenzie • withabroad staff of • 3 335 lawyers • or81%of all lawyers working in the firm

  7. Anglo-American Dominance in the Legal Market • Transnational companies reign the world economy; • They are listed at the stock exchanges in New-York and London, use English in documentation under the American or British jurisdiction; • “Legal magnetism” of the UK courts; • Leading role of the USA and American legal system in shaping international legal framework; • Cultural and historic reasons.

  8. Why Business Goes Offshore? • Impractical laws • Inefficient courts

  9. Judicial Reform • Promote prestige of being a judge and provide adequate pay for judges; • Ensure the inevitability, not severity of punishment; • Bring in a fresh generation of personnel.

  10. Geography of Russian Assets Abroad 52% 22% 11% 6% CIS North America CEE Western Europe 3% 4% Asia & Australia 2% Africa Latin America Total assets value: $ 59 bln. Total number of subsidiaries and branches: 630 Source:NTV, Segodnya, 24 Feb. 2008

  11. TOP-10 Russian Acquisitions Abroad in 2006-2007 Source: M&A-Intelligence Group of Mergers & Acquisitions magazine, Russia "

  12. Main Impediments • Lack of long-term low-cost capital funding from within Russia; • Lack of international M&A experience at any corporate level in Russia except at the very top; • Cross-cultural difficulties; • Russia’s image abroad; • 5) Lack of established network of key players: counsel, investment banker, PR adviser, accountant, as well as personal networks in the target industries.

  13. Learn the target market. Let the target market learn about you. Start the learning curve early on the regulatory issues. Expect to play the local game. Choose the right people. How to Win the Battle

  14. Italy: Bonelli Erede Pappalardo France: Bredin Prat Netherlands: De Brauw Blackstone Westbroek Germany: Hengeler Mueller Sweden and Scandinavia: Mannheimer Swartling Austria: Schönherr Great Britain: Slaughter and May Spain: Uría Menéndez USA: Wachtell Lipton Russia: Egorov Puginsky Afanasiev & Partners Work in Coalitions: Best + Best

  15. The Best Friends Network: Who We Are • Leading independent firms; • Not a fixed group, no exclusive arrangements; • Firms with a common purpose and focus: • quality • culture • Establish integrated teams of lawyers to provide a seamless cross-border service.

  16. Role of the Local Counsel in the Integrated Team • Advising client in negotiations; • Coordination of the integrated team of foreign advisers (best+best) • Due diligence of local assets; • Antitrust clearance; • Legal advise of issues subjected to the home jurisdiction (i.e. labor issues); • GR: Relations with federal and local authorities, municipalities.

  17. Our Experience 2006: Advising global top-3 aluminium producer RUSAL on its USD 30 bln merger with SUAL of Russia and Glencore of Switzerland creating United Company RUSAL. EPA&P + Ashurst (UK) 2007: Advised Basic Element, a major investment group in Russia, on the acquisition of a 30 percent stake in STRABAG, European leader in construction, in a 1.2 bln Euros deal. EPA&P + Bryan Cave (USA), Schoenherr (Austria) 2007: Advised on acquisition of shares in German leader in construction Hochtief. EPA&P + GleissLutz (Germany) 2007: Advised RM Systems, a major Russian automotive holding owning GAZ Group, on the USD 1,53 bln private equity deal for the shares of NYSE-listed Magna International, the world's leading auto components manufacturer. EPA&P + Cravath (USA) 2008: Advised UC RUSAL on a recently announced acquisition of strategic stake in Norilsk Nickel from ONEXIM Group. EPA&P + Ashurst (UK)

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