Ogier's BVI office has recently advised on the sale of the BVI company that holds the controlling interest in the major Russian commercial seaport, Novorossiysk Commercial Sea Port ("NCSP"). NCSP shares are traded on Russia's RTS and MICEX exchanges as well as on the London Stock Exchange in the form of GDRs.

NCSP is Russia's main port on the Black Sea and is the largest Russian port operator in terms of cargo turnover.

As part of the transaction a further sizeable Russian seaport was acquired. The Port of Primorsk is located on the Baltic Sea to the northwest of St. Petersburg and is Russia's largest oil port, handling approximately 30% of Russia's oil exports and approximately 37% of oil exported via Russian seaports.

The total value of the transaction was US$2,500,000,000 (two billion five hundred million US dollars). Part of the acquisition was funded by a loan from a major Russian bank. Ogier BVI worked with a Latham & Watkins Moscow team, representing the seller.

Ogier's team was lead by BVI partner Ray Wearmouth, working with senior associate Paul Heath and Russian speaking associate Marina Kozlova.