Michelmores advises the Warsaw Stock Exchange on its purchase of a majority stake in the Armenian Stock Exchange
Michelmores' London Corporate team has recently acted as English counsel for the Warsaw Stock Exchange, alongside the Polish law firm Kubas Kos Gałkowski and Armenian law firm AM Law Firm, in relation to its acquisition of 65.03% of the issued share capital in the Armenian Stock Exchange. Michelmores prepared and negotiated the Share Purchase Agreement and Shareholders' Agreement under English law.
On 24 May, within the framework of the World Economic Forum held in Davos, the parties signed a letter of intent confirming their respective intentions to sign the Share Purchase Agreement and the Shareholders' Agreement in June. This letter of intent was signed in Davos in the presence of the President of the Republic of Armenia, Vahagn Khachaturian, and the President of the Republic of Poland, Andrzej Duda, by the CEO of the Warsaw Stock Exchange, Marek Dietl, and the CEO of the Armenian Stock Exchange, Hayk Yeganian.
On 28 June 2022, the acquisition deal completed with a ceremony in Yerevan.