News (#07-08 July-August 2019)

Deals

AVELLUM advised GROUPE ATLANTIC

AVELLUM acted as the Ukrainian legal counsel to GROUPE ATLANTIC, a leading French HVAC company, on the acquisition of SST Groups electric underfloor heating and water leakage control systems business.

AVELLUM advised the client on the structuring of the transaction, conducted legal due diligence of the Ukrainian part of the target business, and assisted with reviewing certain transaction documents.

Herbert Smith Freehills acted as the global legal counsel to GROUPE ATLANTIC.

The AVELLUM team was led by partner Yuriy Nechayev, with support from associates Dmytro Symbiryov and Yulia Chelebii-Kravchenko.

Asters advised rail operator Ukrzaliznytsia on bond issue

Asters and Dechert counseled JSC Ukrzaliznytsia under Ukrainian and English law, respectively, on a USD 500 million Eurobonds offering of 8.25% notes due July 2024.

Asters advisory role implied full legal support under Ukrainian law with respect to transaction documents, related corporate and regulatory matters, and preparation of memoranda and legal opinions.

Asters project team, as managed by senior partner Armen Khachaturyan, included partner Constantin Solyar (advising on tax law), senior associate Olena Nikolenko, associates Diana Kondratieva, Roman Podzizei, and Iryna Voitova.

AEQUO advised the European Fund for Southeast Europe

AEQUOhas acted as Ukrainian law counsel to the European Fund for Southeast Europe the Luxembourg-based fund, which focuses on the development of local financial sectors in Southeast Europe and parts of Central Asia by providing long-term funding for micro and small enterprises (MSEs) as well as private households, on the granting of a USD 10 million loan to OTP Leasing LLC, the leading Ukrainian leasing company. Kreditanstalt für Wiederaufbau (KfW), a German government-owned development bank, is the initiator of the EFSE.

The loan will be directed towards financing leasing transactions with Ukrainian MSEs which are engaged in agriculture, livestock and agro-processing, or have their main business operations in rural areas (agribusiness).

AEQUOs team consisted of associate Olesia Mashtaler and counsel Bohdan Dmukhovskyy, who worked under the supervision of Yulia Kyrpa, partner and head of banking and finance of the firm. The team assisted EFSE in preparing and negotiating the transaction documentation, and issued legal opinion in EFSEs favor to confirm the validity and enforceability of the transaction and supporting documents.

Baker McKenzie assisted Bayerische Landesbank

Baker McKenzies Kyiv, Frankfurt, Berlin, Amsterdam and Zurich offices assisted Bayerische Landesbank, in connection with a EUR 180 million loan facility purporting to finance the construction of the two stages of a 200 MW wind power plant in Ukraines Zaporizhzha Region, with Primorskaya-1 and Primorskaya-2 Wind Electric Plants (members of the DTEK Renewables group) as borrowers. The project involved a complex security structure both inside Ukraine and outside it.

Baker McKenzies international team was led by Serhiy Chorny, managing partner in the Kyiv office, with key input from Kathrin Marchant, partner in the Frankfurt office, and associates Victoria Ischenko, Stepanyda Badovska and Nataliya Tyschenko.

When both phases are commissioned, the 200 MW wind farm will generate 650-700 million kWh of green energy.

AEQUO advised Dragon Capital

AEQUO advised Dragon Capital group of companies, one of the leading private equity investors in Ukraine, on the sale of Chumak, one of the largest food industry enterprises in Ukraine. AEQUO represented the client in the Antimonopoly Committee of Ukraine in relation to obtaining merger clearance.

AEQUOs project team included counsel Sergey Denisenko, senior associate Yevgen Blok and associate Yaroslava Dorosh.

CMS advised Acciona Energia

CMS Cameron McKenna Nabarro Olswang in Kyiv has advised Acciona Energia on all aspects of its joint venture projects with UDP Renewables (UDPR), a leading Ukrainian investment and development company for the renewable energy sector. As part of the projects, Acciona and UPDR will construct two new solar power plants, Gudzovka-Solar and Arcyz-Solar, in Odesa Region.

The CMS team advising Acciona was led by energy partner Vitaliy Radchenko, and corporate/M&A partner Tetyana Dovgan, with key support from Graham Conlon, Vitalii Mainarovych, Mariana Saienko, Diana Pysarenko, Olga Belyakova, Nataliya Nakonechna and Mykola Heletiy.

Sayenko Kharenko advised Bergner Group

Sayenko Kharenko has acted as Ukrainian legal counsel to Bergner Group on the acquisition of a majority interest in a Ukrainian distribution company, and on the establishment of a joint venture with a local partner aimed at developing the distribution network for Bergner products in Ukraine. Sayenko Kharenkos involvement in this deal included structuring advice, transactional support including negotiation assistance, development and implementation of joint venture corporate governance rules, as well as post-closing support.

Sayenko Kharenkos core team included partner Oleksandr Nikolaichyk and associate Ilhar Hakhramanov, with support from junior associates Sviatoslav Kozak and Angelina Danyleiko.

AVELLUM Ukrainian legal counsel to EBRD

AVELLUM acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development and Nederlandse Financierings Maatschappij voor Ontwikkelingslanden N.V. (FMO) in connection with a senior secured loan to LLC Chysta Enerhiia-2011 totaling up to EUR 24.5 million (and each 50%).

The loan proceeds will be used to finance the construction and operation of a solar photovoltaic plant in Cherkasy Region.
The project directly contributes towards achieving the governments 15% target in renewable electricity generation by 2030 (up from the current ~2%).

The team was led by senior partner Glib Bondar with support from counsel Maria Tsabal, senior associate Tetiana Mykhailenko and associates Dmytro Symbiryov, Daryna Mykhailenko, Anna Mykhalova and Anna Kalabska.

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