Eversheds Faasen advises CEO Argos
In the last year and a half, as advisor to the CEO of Argos, Peter Goedvolk, Eversheds Faasen took a highly active role in shaping involving a bid of approximately EUR 700 by the Russian group Sistema for all shares in Argos Group Holding B.V. Peter Goedvolk has already been in contact for some years with Sistema's directors and shareholders and with Sistema's investee Bashneft, a significant player in the Russian oil industry, whose operations include the exploitations of various oil fields and refineries and the transport of oil.
Therefore, Peter Goedvolk can be considered to be strategic pioneer of this transaction.
Argos' other shareholders were assisted by Houthoff Buruma, and Sistema was assisted by Stibbe. Further support was provided by NIBC (to Sistema) and ING Ernst & Young (as advisors to Argos).
Sistema hopes that this takeover signals a substantial step forward. Many of Bashneft's and Argos' operations are complementary and there are substantial synergy benefits to be gained.
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