Chadbourne & PARKE LLP Advises red-stars.com On Acquisition of Leading Russian E-Commerce Company.Business Editors/Legal & Hi Tech Writers MOSCOW--(BUSINESS WIRE)--Dec. 22, 2000 Austrian e-business company red-stars.com (Data AG) yesterday announced its successful acquisition of a qualified stake in Actis Systems, Russia's market leader in e-business solutions. Actis Systems covers the majority of the territory of the former Soviet Union and controls 25 percent of the Russian e-services market, as well as a 70 percent market share in Kazakhstan and 75 percent in Ukraine. According to red-stars.com board members Peter Schonhofer and Dietmar Pokorny, the transaction will make red-stars.com the leader in Russia's web development service market. Based in Vienna, red-stars.com is the only Western European company that deals exclusively with the growth of e-business, internet solutions, online marketing and specialized portals in emerging European countries. The company also controls several other companies, including Hungary's Telnet Interactive and the financial provider Skate. Red-stars.com was founded in March 2000 and Siemens AG Austria acquired a qualified minority shareholding in the company in May 2000. Chadbourne & Parke partner Mikhail Rozenberg and associates Natalie Menshikova and Peter Gloushkov advised red-stars.com on structuring the transaction. "Red-stars.com represents a new generation of companies in Russia," said lead counsel Mikhail Rozenberg. "Chadbourne was proud to contribute our expertise and experience to this important deal." Chadbourne & Parke LLP LLP - Lower Layer Protocol , an international law firm headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , provides a full range of legal services legal services n. the work performed by a lawyer for a client. including mergers and acquisitions, securities, project finance, corporate finance, energy, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , intellectual property and ePractice, antitrust, domestic and international tax, insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. , environmental, real estate, bankruptcy and financial restructuring, employment law and ERISA See Employee Retirement Income Security Act. ERISA See Employee Retirement Income Security Act (ERISA). , trusts and estates and government contract matters. The Firm has offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Los Angeles, Washington, D.C., Moscow and Hong Kong, and a multinational partnership, Chadbourne & Parke, in London. |
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