RDIF Invests in Barillas Russian Business
October 15, 2020
Cleary Gottlieb represented Barilla in establishment of a joint venture with the Russian Direct Investment Fund (RDIF).
Barilla and RDIF are planning to invest jointly over €100 million in Barilla’s Russian business, which brings Barilla additional resources for construction of a new pasta production plant in the Moscow Region.
RDIF, Russia’s sovereign wealth fund, and Italy’s Barilla Group, one of the leading global producers of pasta and bakery products, announced plans of joint investments to expand Barilla’s business in Russia in October 2020. The investment program is aimed to enable Barilla’s Russian subsidiary to significantly increase scale of its operations and level of production localization on the local market.
The transaction was signed on June 29, 2020 and closed on September 24, 2020.
Cleary has represented Barilla on a number of matters in relation to expanding of its business activity in Russia in previous years.