OREANDA-NEWS. March 25, 2013. SORAINEN Estonia is advising Bank of Moscow, a leading universal commercial bank in Russia, in gaining control of Estonian credit institution Eesti Krediidipank. Changing a credit institution into a controlled company, however, required undergoing extensive and time-consuming notification proceedings with the Estonian Financial Supervision Authority (the EFSA).

Our advice also included drafting and filing notification of the acquisition with the EFSA, compiling the necessary documents to be appended to the notification, arranging and drafting answers to the EFSA’s additional questions and extensive communication with the EFSA regarding other issues related to the case. We also advised the client in relation to exercising shareholder rights in the bank as well as on various transactional matters regarding the takeover.

The assignment is particularly challenging as the transaction is taking place in the environment of a corporate battle between two shareholder groups and management of the target bank.

The client is being advised by partner Reimo Hammerberg, senior associates Risto Agur and Paul Kunnap and associate Helen Ginter.