It is one of the few recent privatisation deals in Belarus. COBALT advised Group Franck Muller (G.F.M) Watchland S.A. in the course of privatisation of the Minsk Watch Factory – manufacturer of the famous “Luch” brand watches.
The work on the project included conducting due diligence of the target company and structuring the transaction. Lawyers of COBALT advised on the structure of the deal, as well as carried out the due diligence of the target company and drafted the investment agreement between the investor and the Republic of Belarus which stipulated, inter alia, renewal of the watch manufacturing of the Open Joint Stock Company “Minsk Watch Factory”, construction of the new production capacities, objects of social infrastructure and buildings.
The deal was important for Belarus business as investor purchased the majority of shares in the state-owned enterprise. The value of this deal is more than USD 12 million.