The Moscow office of Debevoise & Plimpton LLP has advised longstanding client Norilsk Nickel (“Nornickel”) in a buyback of up to 5,382,865 shares of Nornickel, representing 3.4% of its issued outstanding shares, for a total amount of approximately $2 billion.

Nornickel is a diversified mining and metallurgical company, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.

The Debevoise team advising Nornickel was led by Moscow partner Alan Kartashkin and included international counsel Maxim Kuleshov and associates Timur Ochkhaev and Tamara Kulyk.