Bryan Cave Leighton Paisner Russia (formerly Goltsblat BLP in Russia) has advised Orion LLC, an ESN Group company, on the sale of 100% of the shares in the fiscal data operator 1 OFD (ESK JSC) to VTB Group.
1 OFD processes and transfers fiscal data from cash registers to the Federal Tax Service of Russia in near-real time. The company services around 400,000 cash registers and is one of Russia’s top three fiscal data operators, with a market share of about 16%.
For VTB Group, acquisition of 1 OFD is a strategic investment facilitating expansion of its service offerings and strengthening its data monetisation models. By leveraging OFD data, VTB Group will be able to monitor promptly the financial standing of corporate customers, improve its scoring models and increase targeted offer conversion.
Bryan Cave Leighton Paisner Russia’s dedicated team was led by Anton Sitnikov, Partner, Head of Corporate / M&A, with valuable assistance from Senior Associates Oksana Orlovskaya, Kseniya Shevchenko and Anastasia Kudryashova, Junior Associate Mikhail Erokhin (Corporate / M&A), Counsel Anton Nefedev and Junior Associate Gleb Liubochko (IP), Head of Tax Advisory Anna Zelenskaya and Junior Associate Igor Saprykin (Tax).
Anton Sitnikov, commenting on Bryan Cave Leighton Paisner (Russia) LLP’s involvement, said, “We are delighted to have worked on this deal of a truly landmark nature for our client, its counterparty and the market. We appreciate the trust ESN Group has placed in us and offer 1 OFD good wishes for future growth and development, now as part of VTB Group.”
For more detail about the deal, visit VTB Group’s website at https://www.vtb.ru/o-banke/press-centr/novosti-i-press-relizy/2019/08/2019-08-07-gruppa-vtb-priobrela-pervyy-ofd/