Clifford Chance (CC) has scooped the lead advisory role for Barclays on its £373m acquisition of Russian retail and commercial lender Expobank.

Corporate partner Alex Erasmus lead a Moscow-based team for CC advising Barclays, a longstanding client of the magic circle firm.

The deal, which completed on 3 March and comes as part of a push by the UK's third-largest lender into emerging markets, sees Barclays acquire full ownership of the bank from Petropavlovsk Finance.

The role is a boost for CC's Russian practice and comes after the UK giant today (7 March) announced plans to open a new office in Kiev. Current Warsaw chief Nick Fletcher will be heading up the new office, which will focus on real estate, corporate and finance work.

City rival Allen & Overy (A&O) advised the vendor, with Moscow-based corporate partner Edwin Tham leading the team.

Expobank, which operates 32 branches across western Russia, becomes Barclays' first overseas acquisition since its failed approach for ABN Amro. CC advised Barclays on that deal, while A&O acted alongside NautaDutilh for ABN,

Commenting on the Expobank acquisition, CC's Erasmus said: "We are delighted to be advising Barclays on this acquisition and to be able to service our global clients where it is required."