Deals

EPAP Ukraine advised Apax Partners LLP

Egorov Puginsky Afanasiev & Partners Ukraine provided advice to funds advised by Apax Partners LLP on the Ukrainian law aspects of its public takeover of EVRY ASA, a listed Norwegian company, for the purchase price of 16 NOK per share.

EPAP Ukraine provided legal support on the Ukrainian part of the deal, including legal due diligence of Infopulse, the target’s Ukrainian business and a leading provider of IT and BPO Services in Eastern Europe.

The firm’s team for the current transaction included counsel Oleg Boichuk, associate Natalia Spiridonova and was led by partners Oksana Ilchenko and Ilona Zekely.

AEQUO advised European Commission on granting macro-financial assistance to Ukraine

On 22 July the European Commission disbursed a loan in the amount of EUR 600 million to Ukraine. This corresponds to the first installment under the new Macro-Financial Assistance (MFA-III) program for Ukraine, which amounts to a total of EUR 1.8 billion. The said MFA program is envisaged by the Memorandum of Understanding and the Loan Facility Agreement concluded in May 2015 by Ukraine, as a borrower, the National Bank of Ukraine, as an agent to the borrower, and the European Union, as the lender. AEQUO advised the European Commission on the Ukrainian law and international law matters of the transaction. The lawyers assisted in negotiating the transaction documents, controlling the conditions precedents’ fulfillment and issued a legal opinion in favour of the lender. The transaction team comprised Denys Kulgavyi, associate of banking and finance practice group, Yulia Kyrpa the firm’s partner and head of banking & finance and Denis Lysenko, managing partner.

Dentons advised Export Development Canada

Dentons advised Export Development Canada (EDC), Canada’s export credit agency, in connection with two loans to Ukraine for a total amount of CAD 400 million. The loan agreements were made between Ukraine, as represented by the Minister of Finance of Ukraine acting on the Instructions of the Cabinet of Ministers of Ukraine, and the Export Development Canada as agent for Her Majesty the Queen in Right of Canada. An initial CAD 200 million loan was provided by Canada to Ukraine in September 2014, and the second CAD 200 million loan was provided to Ukraine in March 2015. The loan funds will be used to stabilize the Ukrainian economy and promote social development. The Dentons Kiev team, led by partner Natalia Selyakova, worked with the EDC in-house legal team.

Avellum Partners advised MHP S.A.

Avellum Partners advised MHP S.A. in connection with the exchange of grain growing assets Voronezh Agro  for Agrokultura in Lviv, Ternopil and Ivano-Frankivsk Regions. Avellum Partners acted as the leading legal counsel to MHP S.A. by advising on all aspects of the transaction, including transaction structuring, drafting and negotiating transaction documents, advising on security package, pre-transaction restructuring and debt assignment issues. The deal was structured as a share exchange deal. The transaction also involved an exchange of intra-group debt between the parties. The team was led by managing partner Mykola Stetsenko, with significant input by Yuriy Nechayev, senior associate, and Yuriy Zaremba, associate.

EPAP Ukraine assisted Kemira Oyj

EPAP Ukraine has assisted Kemira Oyj with obtaining merger clearance with the Antimonopoly Committee of Ukraine for the acquisition of the paper chemical business of AkzoNobel. The value of the transaction is EUR 153 million. As the result of the transaction, six of the AkzoNobel paper chemicals manufacturing sites and approximately 350 employees have been transferred to Kemira. Kemira has also increased the production capacity of its own paper chemical manufacturing sites so as to realize expected production synergies. The integration period of the transaction is expected to last approximately two years and result in EUR 15 million net synergies on an annualized basis.

EPAP’s Ukraine competition team was led by partner Oksana Ilchenko and was made up of counsel Oleg Boichuk, associates Oksana Franko and Nadiia Dmytrenko, and junior associate Rostyslav Zeleniuk.

Baker & McKenzie advised on sale of stake in Rozetka

Baker & McKenzie has acted as the legal advisor to the owners of the Rozetka business, a market leader in the Ukrainian e-commerce industry, in connection with the sale of a stake to Horizon Capital.

As part of this transaction, Horizon Capital, a leading regional private equity fund manager, acquired a stake in Rozetka. The Kyiv team on this project included partners Viacheslav Yakymchuk and Oksana Simonova, senior associate Zoryana Sozanska-Matviychuk and associates Olga Gavrylyuk, Nataliya Kovalyova, Alyona Furda and Anna Dolynna.