Elias Neocleous & Co’s Financial
team assisted the Zarenkov family on Cyprus corporate
and financial services law matters in their February 2019 disposal of a 25%
shareholding interest in Etalon Group Plc to Sistema PJFC, a publicly-traded
diversified holding company. Etalon Group Plc, one of Russia’s largest and
longest established development and construction companies,  is a
Cyprus public company having Global Depositary
Receipts (GDRs) traded on the Main Market of the London Stock Exchange since
2011. The relevant public announcements on this transaction are available in
the website of the London Stock
and of Etalon Group Plc.

In this transaction, our Financial
team worked together with the Moscow office of Ernst
& Young (CIS) B.V., as instructing counsel and as to matters of Russian
law, and the London office of Gowling WLG as to matters of UK law.

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