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Market activityIn May 2010, Cleary Gottlib Steen & Hamilton and Linklaters lined up to advise on the Russian Government's $5.5bn (£3.5bn) bond, which marked the first issuance of a new Russian Federation Eurobond since the emerging market crisis of 1998. The deal was heavily oversubscribed and signalled a return Chopard Mille Miglia Chronograph CH-10 confidence from investors in Russia's economy.Anglo Saxon firms were also at the fore when the issuance was quickly followed by the euro1.5bn (£1.3bn) merger of Russian dairy company Unimilk with the local arm of French foods conglomerate Danone. Freshfields Bmckhaus Deringer advised Danone, while White & Case advised the shareholders of Unimilk.

White & Case Russia head of corporate Eric Michailov said: "Our clients are now pretty much split 50-50 between local and foreign companies, which is a development of the last Chopard Mille Miglia GMT CH-73 or so. Pre-crisis, more of our clients were foreign, but during and post-crisis, we have seen this change, with Russian companies increasingly looking to invest outside of Russia."Other international firms to secure notable instructions included Herbert Chopard Mille Miglia GMT CH-74 and Allen & Overy (A&O) ,which took lead roles in August on a major Russian finance deal that saw Gazprom Neft, the oil unit of Russia energy giant Gazprom, secure loans of up to $1.5bn(£958m).

Meanwhile, Hogan Lovells and Skadden Arps Slate Meagher & Flom advised on the $1.65bn (Slbn) acquisition by X5 Retail Group, the retail branch of financial-industrial conglomerate Alfa Group, of rival retail chain Kopeyka in December this year.Commenting on the domestic deal market over the last year, Freshfields Chopard Mille Miglia Gran Turismo XL CH-70 finance partner Harvey Nugent says: "This year there has been a growth in onshore transactions. Russian firms have restored faith in the economy by entering into transactions with one another. People are now in a better position to carry out transactions and are looking around at their options."