White & Case Advises on Aeroflot’s US$1 Billion Capital Increase

Global law firm White & Case LLP has acted as the sole international legal adviser on the more than US$1 billion equity fundraise by PJSC Aeroflot, Russia’s largest airline group.

“The White & Case team, acting as sole international legal counsel, has successfully advised on this strategically important transaction for Aeroflot,” said White & Case partner Darina Lozovsky, who co-led the Firm’s deal team. “It is the largest capital increase by a company listed on the Moscow Exchange since 2013.

VTB Capital acted as the sole global coordinator and bookrunner on the offering. The fundraise is part of the Aeroflot’s  financial strategy of strengthening its equity and liquidity position in context of the exceptional circumstances caused by the coronavirus pandemic.

The White & Case team that advised on the transaction was led by partner Darina Lozovsky (Moscow & London) and local partner Dmitry Lapshin (Moscow), and included partner Inigo Esteve (London) and associates Renat Akhmetzyanov, Anastasia Sheyndlina (both Moscow) and Samuel Curme (London).

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