Milbank LLP advised Frigoglass Group (“Frigoglass”) on US and EU regulatory matters, including economic sanctions and restrictive measures, in connection with the sale of its commercial refrigeration business in Russia, Frigoglass Eurasia LLC (“Frigoglass Eurasia”). Milbank worked alongside Tetrad Capital Partners on the transaction. Frigoglass is a global commercial refrigeration solutions company for the beverage industry.
Following a competitive process, Frigoglass entered into an agreement to sell its entire shareholding in Frigoglass Eurasia to a strategic investor. The transaction was announced on September 2, 2025, and closed on May 26, 2026, following the receipt of governmental approvals from authorities in Russia, the Netherlands, Cyprus and the United States.
The Milbank team was led by Global Risk & National Security partners Bijan Ganji and Andrea Hamilton and included Corporate Finance and Securities partners Apostolos Gkoutzinis and Ana Grbec; Global Corporate partners Andrej Wolf and Lara Watt; and Global Risk & National Security special counsel Pinky Mehta and Mark Padley and associates Bridget Golob and Georgia Kinsella.