Deals

CMS advised EBRD

CMS Cameron McKenna Nabarro Olswang has advised the European Bank for Reconstruction and Development (EBRD) on the participation in acquisition of Żabka, one of Poland’s leading food retailers, with an equity investment of up to EUR 25 million.

Żabka was recently acquired by funds managed by CVC Capital Partners from its previous owner, Mid Europa Partners.

The CMS team was led by Graham Conlon, co-head of International Private Equity at CMS Cameron McKenna Nabarro Olswang, and senior corporate and M&A associate Tetyana Dovgan, with invaluable support from associate Vitalii Mainarovych.

Sayenko Kharenko advised on USD 500 million Eurobond issue by MHP

Sayenko Kharenko acted as Ukrainian legal counsel to joint lead managers J.P. Morgan Securities plc and ING Bank N.V., London Branch, in connection with the cash tender offer with respect to USD 750 million 8.25% notes due 2020 and the issue of new USD 500 million 7.75% notes due 2024 by MHP S.A. MHP is one of the leading agro-industrial companies in Ukraine, focusing on the production of poultry and cultivation of grain. This is the second corporate bond issuance of the year from Ukraine, following the debut Eurobond issue by Kernel in January 2017.

Sayenko Kharenko’s team was led by senior associate Iryna Bakina and associate Olga Kyriusha under the general supervision of partner Nazar Chernyavsky. The transaction team also included senior associates Oleg Klymchuk and Maria Tsabal, and associates Oksana Andronyk and Taras Shyb.

Aequo — legal counsel to Piraeus Bank

Aequo has advised Piraeus Bank Ukraine on Ukrainian law matters related to its borrowing an uncommitted trade facility of up to EUR 5 million from the EBRD. The facility is being granted within the EBRD’s Trade Facilitation Programme (TFP) to support Ukrainian exporters and importers. The TFP promotes international trade to, from, and within EBRD countries of operations, including Ukraine. Through the Programme, the EBRD provides guarantees to international confirming banks, taking the political and commercial payment risk of international trade transactions undertaken by banks in the countries of operations. Aequo assisted the borrower with structuring the deal, negotiating the financing documentation and issued the legal opinion in favour of the EBRD. The project legal team included Denys Kulgavyi, senior associate, and Valeriy Savva, associate, and was led by Yulia Kyrpa, partner and head of the banking and finance practice group.

Dentons advised Ingenico Group

The office of Dentons acted as legal counsel to Ingenico Group, the global leader in seamless payment, on acquisition of the payment activities business of Bancomzvjazok JSC (BKC) through the purchase of 100% of shares in the newly-created legal entity SST (Systems of Secure Transactions). 

BKC has been a partner and distributor of Ingenico Group in Ukraine since 1997. The transaction involved the carve-out of BKC’s payment activities business unit to SST. 

The deal will expand the footprint in Ukraine of France-based Ingenico. With 40 employees, SST brings extensive knowledge of the local market and strong relationships with leading Ukrainian banks.

The Dentons team was led by partner Adam Mycyk, with significant assistance from senior associates Anna Tkachenko and Nikolay Zhovner, as well as partner Volodymyr Monastyrskyy.  Other associates involved in the transaction included Borys Schwarzer, Oksana Horban and Roman Mehedenyuk.