Natalia Diatlova

PhD, Partner
Head of the Public-Private Partnership (PPP) Practice
Head of the International Projects Group

St Petersburg, Moscow



Having worked in private practice for over 15 years, Natalia has extensive experience in Russian and international matters relating to commercial projects at a national and international level, in the area of investments, corporate law, real estate and M&A transactions as well as public-private partnerships.

Natalia has led work on large-scale international investment problems in various commercial and civil legal matters, real estate, foreign investment, investment agreements, projects in the construction and redevelopment of industrial premises for manufacturing, shopping and business centres, warehouses, and also for the creation of joint ventures.

Natalia led the team of Russian lawyers in the first PPP project in Russia for the construction of the toll road Zapadny Skorostnoy Diameter in St Petersburg. Natalia is a well-known specialist in the field of PPP in Russia, with significant experience in private practice and has taken part in the development of various national (federal and regional) legal regulations in the sphere of PPP. Natalia is also the author of articles in Russian and English on PPP issues and has experience of giving presentations on such topics at business and academic conferences in Russia.

Professional interests and specialisation – commercial projects (particularly those with an international element), joint ventures, M&A transactions, projects in the sphere of real estate, infrastructure and PPP.

Natalia has been a speaker at Russian and international business and academic events mainly regarding matters of real estate, PPP and international commercial projects.

In 2017 Natalia completed a postgraduate degree on the topic of “Public-Private Partnership Agreements: civil law aspects”.


Natalia is a partner at Maxima Legal and heads the firm’s International Desk and PPP Practice.

Previously Natalia was the Director of the tax and legal department at KPMG and prior to that was Counsel and co-head of the real estate practice at Salans.


In recent years Natalia’s legal practice has focused on three areas:

1. Assisting clients with commercial and corporate matters (in particular international projects), including the creation of joint ventures with foreign capital, M&A and corporate restructuring:

  • Creating and assisting with the activities of joint ventures;
  • Assisting with international projects from their commencement to conclusion;
  • Preparing documents for investments, memorandums and legal opinions;
  • Structuring and closing transactions;
  • Assisting with transactions connected with investments in real estate, as well as with the acquiring and sale of businesses under Russian and foreign laws;
  • Conducting legal audits and due diligence of the activities of corporate groups with a view to the purchase or sale of a business;
  • Assisting with the legal aspects relating to the activities of corporate groups (that are involved in the production of products for domestic consumption, the automotive, paper, pharmaceutical, construction, agricultural and oil and gas sectors, amongst others), including in international commercial and corporate matters, administrative law and real estate matters; and
  • Contractual law matters (such as contracts for the supply of goods, subcontracts including building subcontracts, leases, supply of services, loans, indemnities, licences, investments, sale of goods and concessions).

2. Assisting with PPP projects (including concessions) and the development of PPP legislation in Russia, including:

    • Assisting with the toll road Zapadny Skorostnoy Diameter, including preparing the documents required to submit a tender and drafting the PPP agreement;
    • Assisting the Institute DorAeroProekt in the structuring of a project for toll road M4 ‘Don’, including preparing a risk matrix;
    • Structuring a Russian group of construction companies for the purpose creating a more efficient corporate structure for PPP projects;
    • Participated in the development of proposed amendments to the PPP law in the Leningrad and Novosibirsk regions; and
    • Advising on PPP issues in the field of corporate and project finance.


  • Best Lawyers 2021 (Russia, St Petersburg) — Corporate Governance and Compliance Practice, Corporate Law, Project Finance and Development Practice, Government Relations
  • Best Lawyers 2020 (Russia, St Petersburg) — Government Relations

In 2019, Kommersant Publishing House named Natalia Diatlova in the individual categories of the annual national ranking Leaders of the legal services market.

  • Top 3 best lawyers in Russia in the PPP category
  • Top 3 best lawyers in Russia in the Commercial Law category


  • Member of the Expert Council of the National PPP Centre
  • Member of the Expert Methodological Council of the National Association of Concessionaires of Long-Term Investors in the NACDI Infrastructure
  • PhD and Associate Professor of the law faculty at the High School of Economics in St Petersburg, Public-Private Partnership course
  • Reviewer of articles and results of dissertations for academic degrees of the scientific-theoretical magazine “Bulletin of St Petersburg University. Law” on the topics of “Public-Private Partnership”, “Corporate Law” and “Private International Law”
  • Reviewer of graduate qualification works of Master’s students of the Department of Commercial Law of the Law Faculty of St Petersburg State University
  • Expert on the ROSINFRA platform


1996                Law Faculty of St Petersburg State University (graduated with honours)

2018                Law Faculty of St Petersburg State University, Department of Commercial Law, led by V F Popondopulo (thesis topic: “Agreements in Public-Private Partnership: civil law aspects


Natalia has authored a number of articles and academic commentaries in Russian and English on matters relating to Public-Private Partnerships, international investments and other issues relating to commercial law. A full list of Natalia’s publications can be provided on request.


Russian (native) and English (fluent)