announces joint venture

Reading Time:
< 1
Posted: 6th August 2019 by
Jaya Harrar
Last updated 14th September 2021
Share this article

Alibaba Group (NYSE: BABA), a global digital commerce company, PJSC “MegaFon” (MoEx: MFON), a pan-Russian operator of digital opportunities, Group (MAIL.LI), the leading internet and IT company in Russia, and Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, have received approval from the Federal Antimonopoly Service (FAS) in Russia for a joint venture to integrate Russia’s key consumer internet and e-commerce platforms and launch a leading social commerce joint venture in Russia and the CIS, which will operate in compliance with local data protection regulations.

Linklaters advised Russian Direct Investment Fund, a major Russian sovereign wealth fund, in relation to creation of JV between RDIF, Alibaba Group, the world’s leading retail commerce company, MegaFon, a pan-Russian operator of digital opportunities, and Group, the leading internet/IT holding in Russia. Ivan Chuprunov (Corporate Managing Associate) led the transaction.

Linklaters commented: “The JV will operate in Russia and certain other jurisdictions across all e-commerce segments and will create one-stop platform for social, communications, gaming and shopping based on the existing e-commerce business of AliExpress Russia and Group’s social and digital businesses as well as accelerate the development of Russia’s growing digital economy.”

Connect with LM
Lawyer Monthly: The Briefing
Subscribe to Lawyer Monthly Magazine Today to receive all of the latest news from the world of Law.

About Lawyer Monthly

Lawyer Monthly is a news website and monthly legal publication with content that is entirely defined by the significant legal news from around the world.