Citigroup Venture Capital International in Russian Warehousing Investment

October 29, 2005

Cleary Gottlieb represented Citigroup Venture Capital International in its $37.5 million acquisition of a stake of more than 25% in National Logistics Company (NLC). Formed in 1995, NLC is the second largest logistics operator in Russia and is considered one of the highest quality Russian warehousing service providers. NLC’s customers include prominent Western companies such as Procter & Gamble and GlaxoSmithKline. German private equity boutique DTB is also participating in the investment. This transaction marks Cleary’s first time representing CVCI in an investment in Russia or continental Europe.