The Time Has Come
Market Intelligence 2015
The business strategies review touched every business in this country and the legal industry is no exception. As had been assumed last year, 2014 became a period of stress tests for law firms to respond to challenges that the crisis and occupation entailed.
We always tend to design our Handbook in a comprehensive and suitable way for navigation in both print and on-line formats. And now this is the thirteenth edition of our legal directory, which observes in detail the Ukrainian legal market, firms and individuals across various areas of legal practice.
The market segmentation is, for research purposes, done in line with the legal market’s development and may change from year to year. In the current edition we compiled 18 surveys and 21 rankings.
We are grateful for the corporate submissions that arrived from law firms as well as individual market feedback that we use as a tool for verification of results and revealing deepen insights into each given segment.
It is worth noting that the situation in our country consequently affected the nature of work noted in the submissions. Naturally, the share of confidential advisory is much more significant, while clients and projects are more sensitive in this respect. Furthermore, numerous projects were aborted and put on hold due to market conditions. We tried to mention notable highlights and project evidence wherever this was possible.
Those firms/individuals that have not provided questionnaires but were, nevertheless, highly active on the market and received strong references during the poll, were included in commentaries based on the use of publicly available sources.
The Handbook carries out the function of reliable market intelligence, high-end expert review and certainly a guide to external counsels. An accurate list of transactions (projects) is structured in the league tables (see Tables 1-5).
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Denis Lysenko, Managing partner of AEQUO
“The market has entered into a dramatic cycle of what one could call 'recomposition' and 'domestification' ”
During 2014 and the first quarter of 2015, the Ukrainian legal market entered into a dramatic cycle of what one could call “recomposition” and “domestification”.
Recomposition included (i) substantial changes in the structure of law firms organized as partnerships (including spin-offs or partner exits into public service or other partnerships); (ii) strengthening of certain players’ focus on their key practice areas or industries – to defend their core product markets against the backdrop of the unfolding economic crisis and increased competition; (iii) relocation of legal teams affected by the military conflict in Eastern Ukraine and annexed Crimea; (iv) reprofiling of some players – into either stricter boutique practices or vice versa – into reportedly full-service organizations, and finally (v) various other instruments used by law firms to address the ever-increasing buyer power of their clients.
Domestification meant that certain multinational law firms decided to cease the operations of their Ukrainian subsidiaries, or at least partly refocus their Ukrainian teams on outsourcing work for overseas offices, which created additional opportunities, despite the difficult overall market situation, for more flexible and creative domestic players.
Both trends are quite naturally expected to continue into 2015 and likely 2016, at least as long as Ukraine struggles through its deep economic and military crisis, and could eventually result in a more fragmented market dominated by more agile and largely domestic firms.
Reorganizations
The past year has seen spin-offs and splits on the market, mergers and international integration too.
There is no doubt that the most resonant news of last summer was the exit of five out of eleven partners from Vasil Kisil & Partners, a full-service Ukrainian heavyweight.In August the young generation of partners, namely Anna Babych, Yulia Kyrpa, Denis Lysenko, Oleksandr Mamunya and Mariya Nizhnik, in unison with the group of lawyers, established the AEQUO law firm. Denis Lysenko became the managing partner of this newly promising and ambitious team.
The same month renowned tax firm KM Partners has been renamed WTS Tax Legal Consulting LCC. The rebranding is connected with membership in international network WTS Alliance over many years and is aimed at rendering services under unified the WTS global brand and unified global standards. At the same time, criminal practice and related services are provided by KM Partners attorneys at law.
In December 2014 Pavlenko & Poberezhnyuk law group, which was mostly involved in litigation work, splits into two independent companies, namely Pavlenko Legal Group and Poberezhnyuk & Partners.
In the same month ECOVIS Bondar & Bondar announced its merger with Law Business Consulting Law Company. The joint team continues its activities under the ECOVIS brand.
There was also important news from the Big 4. The separate law firm of PricewaterhouseCoopers Legal was established, with Andrey Pronchenko becoming its managing partner.
The past year has proved that despite the incredible economic potential of our country, international law firms are very sensitive to political, economic and military uncertainty. In 2013 German firms Noerr and Beiten Burkhardt closed their Kiev offices. The trend was followed by Chadbourne & Parke, which had been present in Kiev since 1993 and closed the doors of its Ukrainian office in August 2014. Moreover, since 1 February 2015, the Kiev team of the Austrian law firm Schoenherr operates as a separate independent firm named Sytnyk & Partners, under the name of former Schoenherr partner Denys Sytnyk.
This proves that business strategies of international and European law firms completely follow the capital flows of foreign investors that have been exiting the Ukrainian market in the last few years.
At the same time, last year TCM Group International set up a presence in Ukraine through its office in Kiev. The group is primarily focused on alternative dispute resolution and international debt collection.
Expansion in Difficult Times
Followed by the annexation of the Crimean peninsula, businesses faced an unprecedented situation when it switched from Ukrainian jurisdiction to the jurisdiction of the Russian Federation. Several national law firms established Crimea desks and offices. Ilyashev & Partners opened an office in Simferopol. Arzinger established an internal cross-industrial task force called “Occupied Territories” to ensure legal support for clients operating in Crimea and Donbass. Sayenko Kharenko set up a special Crimean Desk of 16 lawyers in Kiev, Simferopol and Sevastopol.
Despite the recent uncertainty present on the market, the past autumn saw a revival of expansion strategies among a number of market players.
Thus, in September the Odessa-based Interlegal, which is focused on shipping and international trade in the Black Sea region, opened an office in Istanbul, Turkey.
In October Lviv-based Matviyiv & Partners attorneys at law opened an office in the Ukrainian capital. The office is focused on arranging legal support of commercial activity for Central Ukrainian companies. And vice versa, some law firms based in the capital started expansion to the Western region of the country. For example, in October Juscutum Attorneys Association, a highly active legal team in the IT sector, and the L.I. Group, focused on indebtedness and solvency matters, established branches in Lviv.
Vladimir Sayenko, Partner of Sayenko Kharenko
“Ukrainian and foreign companies faced business risks related to their assets in Crimea”
Following the annexation of the Crimean peninsula quite a number of Ukrainian and foreign companies faced business risks related to their assets in Crimea, which have been vulnerable and basically unprotected since the annexation in March 2014. We were one of the very first law firms offering solutions on Crimea-related projects and setting up a dedicated Crimean desk comprising 16 lawyers. The desk capacities build on the experience and local insight of several of the firm’s team members that before joining the firm three years ago, used to practice law with the largest Crimean law firm. The most urgent legal issues related to Crimea include preservation of title to corporate rights, business transactions and trading activities, financial liabilities secured by assets in the Crimea, dispute resolution involving courts in the Crimea.
Hires and Promotions
In January 2014 a team of nine lawyers, including two partners, Dr. Julian Ries and Dr. Oleksiy Feliv, joined the Kiev office of Gide Loyrette Nouel from theclosed Beiten Burkhardt. The office enhanced its market standing and secured a following from German-speaking clients.
Igor Lynnyk became a partner at Gryphon Investment Consulting Group. He advises on tax, risk management, forensic and dispute resolution practice.
After the promotion in February 2014 of Svitlana Chepurna and four senior associates, Yevgen Kravtsov, Yevgen Porada, Andriy Pozhidayev and Constantin Solyar, to partners, Asters has made some new hires. In May renowned IP practitioner Julia Semeniy joined as a partner. Ievgen Gusiev, who had previously headed the regulated sector practice at Wolf Theiss, joined the firm as a counsel.
In March Sayenko Kharenko enhanced its partnership staff with renowned Ukrainian IP professional Oleksandr Padalka from Asters.
The past summer was also hot for promotions and lateral moves. Konnov & Sozanovsky announced the preferment of Alexey Pokotylo to the rank of partner. Olena Zubchenko was promoted to partner at Lavrynovych & Partners.
In July 2014 Olga Vorozhbyt joined the Kiev office of CMS Cameron McKenna as a partner to develop litigation and compliance practice. She had previously headed the disputes resolution practice at the Kiev office of Chadbourne & Parke.
Misechko & Partners admitted a new partner, Anton Lukovkin, to develop the banking and finance, real estate and construction practices.
In August Dentons announced that Adam Mycyk had joined the firm’s corporate practice as a partner based in Kiev. He is one of the few US-qualified attorneys working in Ukraine, and had previously been a partner at the Kiev office of Chadbourne & Parke. In addition, partner Myron Rabij, the head of real estate and energy practices in Ukraine, joined the New York office as partner at the Ukrainian desk in the USA.
In September 2014 Anna Chepur was promoted to a partner at Gryphon Investment Consulting Group.
Svyatoslav Senyuta, who was compliance officer, head of litigation at the largest mobile operator in Ukraine, Kyivstar, joined International Legal Center EUCON as a partner. He became head of compliance, electronic and mobile commerce practices. In addition, the firm reinforced its office in Warsaw with the admission of new head and senior partner Ihor Yatsenko. He headed the legal department of ISD Polska Sp. z o.o. and focuses on international tax law and tax planning, incorporation in Poland and entry to the European market, restructuring and reorganization.
In November 2014 Egorov Puginsky Afanasiev & Partners Ukraine appointed Roman Stepanenko as partner in charge of banking and finance, capital markets practice.
New hires and departures occurred in the AstapovLawyers International Law Group in November. Aleksey Kovryzhenko joined as counsel and head of distressed assets practice in the CIS region. The team of intellectual property professionals headed by Natalia Meshcheriakova has left the group and rejoined the Intellectual Property Experts Agency.
The year of 2015 started with a number of anticipated promotions and significant hires.
In February VB PARTNERS promoted Oleksandr Lukianenko to a partner. Ivan Shynkarenko, leading counsel of WTS Tax Legal Consulting LCC, has been promoted to partner. Sayenko Kharenko expanded its international trade practice with a senior hire in the shape of Andrii Zablotskyi from Volkov& Partners. In March Kateryna Gupalo joined Arzinger as counsel and head of tax and customs disputes as well as white-collar defense practices.
Political and Public SectorTransfers
The passage of lawyers to state positions and politics which began last year was definitely the core trend on the Ukrainian legal market. Thus, many representatives of the legal business entered the Presidential Administration, Parliament, Ministries,the Prosecutor-General’s Office and National Bank.
Prominent Ukrainian lawyers Andrii Zhurzhii (Fozzy Group), Victoria Ptashnyk (Droit Law Firm), Olena Sotnik (Solodko & Partners) and Sergey Alekseev (Alekseev, Boyarchukov & Partners) entered Parliament.
Some other practitioners went into public service. Thus, Arzinger ensured the state with a handful of appointments. Vitalii Kasko was appointed Deputy Prosecutor-General for International Legal Cooperation; Anton Yanchuk was appointed Deputy Ukraine Justice Minister for European Integration. Recently, in March 2015 Sergiy Shklyar, founding partner and head of dispute resolution, antitrust and competition, became Deputy Ukraine Justice Minister for the Enforcement Service.
Last summer Oleksii Reznikov, who was a partner at Egorov Puginsky Afanasiev & Partners Ukraine was elected as deputy head (secretary) of Kiev City Council, while Sergiy Grebenyuk, counsel and co-head of criminal law practice, has been elected as a Deputy Head of the Consultative Council of the Prosecutor-General’s Office of Ukraine.
Since July 2014 Oleksiy Filatov, ex-partner of Vasil Kisil & Partners, who led the dispute resolution practice, has occupied the post of Deputy Head of the Presidential Administration of Ukraine.
Igor Shevchenko, one of the founders of Shevchenko, Didkovskiy & Partners (at present – Asters) became the Ukrainian Minister of Ecology and Natural Resources. Oleksandra Pavlenko, managing partner of Pavlenko Legal Group, became the first deputy Ukrainian Health Minister.
In December 2014 Sergii Koziakov, managing partner of Sergii Koziakov& Partners, became head of the High Qualification Commission of Judges of Ukraine.
Leonid Antonenko and Nataliya Mykolska, counsels with Sayenko Kharenko,became head of the Registration and Licensing Department of the National Bank of Ukraine and the Deputy Ukrainian Minister of Economic Development and Trade – Trade Representative, respectively.
Oleksandr Popov,Editor-in-chief, Analytical edition YURIST&ZAKON
“Many in-house lawyers formally become external counsels and provide services exclusively or mainly to their former employers”
In 2014 compared with 2013, the trend of preferring in-house lawyers to outsourcing legal counsel increased. The price factor plays the main role here. It is no wonder that the difficult economic and political situation forced Ukrainian enterprises to review their expenses significantly. There was also the considerable effect due to the fact that not all external counsels responded to the depreciation of the hryvnya in a timely manner. Consequently, employees working for a fixed wage denominated in the national currency come much cheaper than external advisers. Such considerations have forced an increasing number of Ukrainian enterprises to pass on the main part of the current standard legal tasks to their in-house lawyers.
Another noteworthy feature of 2014 is that this trend is accompanied with staff reductions in legal departments. Many in-house lawyers formally become external counsels and provide services exclusively or mainly to their former employers.
However, external advisers are still widely involved in carrying out non-standard solutions to complex problems. In order to save on legal expenses they are involved for certain stages of projects that require highly qualified expertise, instead of outsourcing a whole project.
In 2015 these trends are expected to intensify. In fact, the market situation seems to be even more complicated because of the decline in demand due to the ongoing economic recession.
Artem Afian,Managing partner of Juscutum Attorneys Association
“Litigation with banks will remain the trend”
It is obvious that crisis-resistant industries will be able to afford lawyers. First, these are the industries that serve primary needs (trade, consumer goods industry, import), and secondly, those that are developing now (alternative energy, energy efficiency, IT (tech) industry, agriculture). The devaluation of hryvnya opened up the opportunities to allocate production facilities in Ukraine. For these reasons, foreign companies will need legal advice of local lawyers, competent in support of such transactions. Given the unstable financial situation in Ukraine, we can easily forecast a wave of lawsuits regarding the non-fulfillment of contractual obligations. Litigation with banks will remain in the trend. The removal of government officials from their positions due to lustration will give rise to disputes on the reinstatement in their positions. The criminal cases against the representatives of the former regime are already being heard in courts. The increase in amount of criminal proceedings related to military crimes (military service evasion, desertion, insubordination) is also expected. Proceedings against persons involved in separatism will form another caravan of criminal cases. I expect that during the crisis the outsourcing of legal services will decline for some period, but then it is likely to recover and even slightly grow.
Trend Spotting
Political and economic turbulence and, certainly, military action in Eastern Ukraine, made the investment climate probably the worst in the country’s history. The shortage of transactional work caused a drop in its price. Indeed, international capital markets are currently closed for Ukrainian issuers, while fund raising abroad is very limited. Many foreign investors decided not to wait for the recovery, froze their activities and even exited the country.
It is observed that even traditionally transactional law firms attempted to conduct healthy diversification of practice offering, refocusing on restructuring, bankruptcy and litigation.
Unquestionably, dispute resolution is most demanded. These are banking disputes, failure to comply with commercial contracts and disputes with regulatory authorities. Rapidly changing tax legislation and the continued fiscal approach of the tax authorities provoke a steady flow of tax litigation. Market conditions stipulate corporate reorganizations, assets restructuring, complete liquidation and exits from the jurisdiction.
Another vivid trend is increasing demand for compliance, including anti-corruption, antitrust, anti-money laundering compliance for financial institutions. Bearing this in mind, law firms are separating compliance into a special service and integrate it into traditional practice areas offering.
Economic turmoil entailed an increase in labor and employment assignments. More- over, the annexation of Crimea resulted in an unprecedented situation with assets and business operations in the peninsula. This required sanctions advice and a comprehensive approach from the perspective of two jurisdictions – Ukrainian and Russian.
Serhii Sviriba, Managing partner of Egorov Puginsky Afanasiev & Partners Ukraine
“Serious fluctuation of the national currency brought another twist to legal fees”
The shrinking market caused great concerns to the approach of traditional hourly rates and demonstrated the strong sensitivity of business and legal costs. Soft estimates and caps showed themselves to be in great demand from clients.
Serious fluctuation of the national currency brought another twist to legal fees. It is no longer so rare that a fee estimate be requested in local currency instead of widely used dollars and euros.
Those, who committed to retain clients at any costs and save fees in currency had to dump their prices significantly. Others kept on trying to use value-based pricing models and retain their clients by satisfying them and generating profits.
Finance under Control
The shrinkage in market volume caused not only an immediate effect in cost management but reconsideration of general legal business strategies. As a result, such a sensitive issue as partnership finance came onto the agenda for many market players.
The economic situation forced a review of so-called “sleeping leaders model”, when the latter cannot rest on their legacy, reputation and client base. Given the highly competitive market at present, the profit-driven approach gains more supporters. And as the past year has vividly shown now it is precisely the time for different types of reorganizations.
Another important feature is business process optimization and decrease in compensation packages, accompanied with the negative salary expectations. The cost-controlling and cost-cutting policy is more accurate than during the crises of 2008. Performance evaluation of personnel is rapidly introduced in small and even boutique law firms. Law firms reconsider their attitude towards business development, which became sensible, targeted and truly performed on an ongoing basis.
The legal employment market has undergone substantial changes throughout 2014-beginning of 2015. Many experienced, qualified and less expensive lawyers replaced highly compensated colleagues in law firms. Indeed, those firms who were traditionally active in attracting talented staff used the opportunity to complete their teams with such performers in a cost-effective way.
Many lawyers from the East moved to other regions and Kiev, tightening competition for vacancies. Some vivid regional counsels relocated firms, employees and their families.
From the positive perspective, the crisis forced law firms to think out of the box and become more flexible.
Serhiy Chorny, Managing partner of Baker & McKenzie, Kiev office
"Traditional practices should continue to operate although in a limited mode – as the market permits"
In times of crisis, a law firm’s management should ensure that the firm enjoys the temporary benefits and opportunities presented by the crisis while, at the same time, not destroying the firm’s strategic or “traditional” practices and keeping them ready to return to the “business as usual” once the market rises again. This means, for example, that the firm’s management should seek every opportunity to advise clients on the crisis management issues which are in high demand at such times (assets protection, assets recovery, business model change, corporate reorganizations, debt restructuring etc.), and to earn as much money on this as possible to support the firm’s financial well-being. Becoming so opportunistic means that lawyers of the “traditional” practices should adjust quickly to apply their skills and knowledge in the areas which are less “traditional” or even new to them. Accordingly, the firm should be ready to invest time (and at times money) in training lawyers to do such crisis-type work efficiently and to the highest quality level. In parallel, the traditional practices should continue to operate, although in a limited mode as the market permits: thus, even in these days, there is some amount of “regular” transactional work for corporate finance and M&A lawyers; revenues from this work fall noticeably but this should not give a pretext to terminate these work streams altogether. In summary, therefore, the best recipe for a law firm’s management in the crisis time is: be opportunistic in seeking work, ensure that such opportunistic work is done at the highest quality level, and keep all your “regular” transaction lawyers in a good mood and ready for post-crisis hectic but so rewarding business.
2015 and Beyond
Since the military conflict is not over, most investors are not willing to take such high country risks that Ukraine offers. Evidently, the economic recovery is possible with the systemic reforms so expected inside the country and by the outside world.
With a fall in the purchasing power of clients and limited volumes of legal outsourcing, 2015 draws a real challenge for the legal market. In the meantime, some policies that have been announced may significantly affect this business and reshape its main players. If judicial reform sees successful implementation and reinstatement of credibility towards courts, the litigation practices in many law firms will receive strong impetus for development. The declared anti-corruption policy has already ensured a new service compliance, either as a separate service or one integrated into conventional practices.
The EU–Ukraine Association Agreement has brought new opportunities for business and lawyers. Ukrainian enterprises interested in export, cooperation and attracting finance, investigate the agreement, EU regulations and requirements.
The record number of lawyers in public service and Parliament, as well as involvement in the ongoing reforms in various spheres, is very promising for pragmatic policy-making. Its time has come precisely for it.
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Oleh Malskyy, Partner at AstapovLawyers International Law Group
“It never hurts to understand, what return on every dollar spent is”
It is very difficult to increase profits in bad times. Costs are something more controllable and may be decreased by due actions and will. The main cost is usually employee salaries and the second is lease. Advertising and general administrative expenses are most manageable. All other costs include the necessity to negotiate reductions with the counterparty, which is more difficult.
Most firms have reviewed their policies regarding marketing and advertisement, implemented cost-saving standards in general administrative resources, negotiated with their landlords, lessors, and have not adjusted salaries with fluctuations in the exchange rate. This helped law firms a little bit to keep up, save employees from redundancies and maintain profit levels.
On the other hand, there are few firms that continue spending in rather generous manner for advertising and events. Some believe it is an opportunity to gain better visibility, some see that it is stupid waste of money at this point. In any case each firm decides on its own, but it never hurts to understand what return on every dollar spent actually is. If the brand is already quite recognizable, if the people are quite loyal, if the travelling costs are rather optimized, there is no harm in having that on board especially in difficult times.
Table 1
Capital Markets (including liability management)
| Value | Transactions | Legal Support (Ukrainian Law) | Legal Support (Foreign Law) |
|---|---|---|---|
USD 3 billion |
Eurobond issue by the state of Ukraine |
Sayenko Kharenko represented the lead manager of the issue; Lavrynovych & Partners represented the Ministry of Finance of Ukraine |
White & Case represented the Ministry of Finance of Ukraine |
USD 2.78 billion |
Capital increase of Raiffeisen Bank International AG on the Vienna Stock Exchange with proceeds from the issue amounting to EUR 2.78 billion |
Sayenko Kharenko represented Deutsche Bank, Raiffeisen Centrobank and UBS |
Shearman & Sterling advised the underwriters, led by Deutsche Bank, Raiffeisen Centrobank and UBS |
USD 1 billion |
Guaranteed Notes by the State of Ukraine due 2019, guaranteed by the United States of America, acting by and through the United States Agency for International Development.(USAID) |
Lavrynovych & Partners represented the Ministry of Finance of Ukraine; Sayenko Kharenko represented JP Morgan and Morgan Stanley, lead managers |
White & Case represented Ministry of Finance of Ukraine; governing law - New York |
USD 500 million |
Exchange offer of Metinvest B.V. for its USD 500 million 10.25% guaranteed notes due 2015, coupled with the new issue of USD 289.7 million 10.5% guaranteed notes due 2017 under its USD 1.5 billion Guaranteed Medium Term Note Programme and a 25% cash consideration |
Avellum Partners acted as Ukrainian counsel to dealer managers - Deutsche Bank AG, London Branch and ING Bank N.V., London branch; Baker & McKenzie advised Metinvest B.V. |
Linlkaters acted as foreign legal adviser to dealer managers, the London and Amsterdam offices of Baker & McKenzie advised Metinvest B.V. |
USD 252.5 million |
First Ukrainian International Bank's solicitation of consents from the holders of its outstanding USD 252.5 million loan participation notes due 2014 issued by Standard Bank Plc | Sayenko Kharenko represented the solicitation agent, ING Bank N.V., London branch; Avellum Partners represented First Ukrainian International Bank |
|
USD 125 million |
Consent solicitation with respect to certain amendments to the terms of the USD 125 million 10.50% loan participation notes due 2014 issued by VAB Finance No. 1 plc for the sole purpose of funding a loan to Vseukrainskyi Aksionernyi Bank (VAB) |
White & Case represented UBS, acting as solicitation agent and Deutsche Bank in its capacity as trustee; governing law - English |
|
USD 100 million |
New issue of Bank Finance and Credit of 9.25% loan participation notes due 2019, admitted to trading on the Irish Stock Exchange, coupled with the exchange offer and the related consent solicitation for outstanding USD 95 million 10.5% loan participation notes due 2014 |
Avellum Partners acted as Ukrainian counsel to VTB Capital as a lead manager and lender; DLA Piper Ukraine represented Bank Finance and Credit |
Freshfields Bruckhaus Deringer acted as a counsel to VTB Capital; DLA Piper acted for Bank Finance and Credit |
USD 88.3 million |
Restructuring of the outstanding USD 88.3 million Eurobond of VAB Bank |
Sayenko Kharenko represented UBS |
White & Case representing UBS as solicitation agent |
USD 50 million |
Solicitation of consents of holders of USD 50 million 12.50% guaranteed notes due 2019 listed on the main market of the London Stock Exchange by Agroton Public Limited |
Baker & McKenzie acted as legal counsel to Agroton Public Limited |
The London office of Baker & McKenzie |
Empty table cells in a foreign legal support column mean that the information is either not available, confidential or there were no foreign law counsels.
Table 2
Banking & Finance
| Value | Transactions | Legal Support (Ukrainian Law) | Legal Support (Foreign Law) |
|---|---|---|---|
USD 3.9 billion |
Financing to Independent Petroleum Company for the establishment of a joint venture with Alliance Group |
Sayenko Kharenko represened the lender |
White & Case represented Independent Petroleum Company |
EUR 1 billion |
Macro-financial assistance to Ukraine under MFA-II program |
Vasil Kisil & Partners advised the European Commission |
|
EUR 610 million |
Macro-financial assistance to Ukraine under MFA-I program |
Vasil Kisil & Partners advised the European Commission |
|
USD 500 million |
Pre-export financing to Duferco S.A. from a group of lenders, arranged by, among others, BNP Paribas |
Sayenko Kharenko represened BNP Paribas |
|
USD 400 million |
Sunflower oil based pre-export financing for Kernel Group, Ukraine’s leading agribusiness, arranged by ING Bank N.V., UniCredit Bank AG |
CMS Cameron McKenna advised ING Bank N.V., UniCredit Bank AG |
CMS Prague acted as English law counsel to ING Bank N.V., UniCredit Bank AG |
EUR 350 million |
Ukrainian security in relation to the multicurrency revolving credit facilities agreement provided by JP Morgan to Goodyear Dunlop Tires, the world’s largest tire company |
Sayenko Kharenko represented JP Morgan |
|
EUR 300 million |
Ukraine guaranteed financing to National Nuclear Energy Generating Company Energoatom provided by the European Atomic Energy Community (Euratom) relating to Complex Safety Upgrade Program of Power Units of Nuclear Power Plants |
Sayenko Kharenko represened Euratom |
|
USD 250 million |
Financing to Myronivsky Hliboproduct (MHP), a vertically-integrated group of companies and the leading poultry producer in Ukraine, extended by International Finance Corporation (IFC) |
Asters represented IFC |
Baker Botts (UK) LLP represented IFC |
EUR 220 million |
Credit line from the European Investment Bank (EIB) to State Savings Bank of Ukraine (Oschadbank), purporting to finance Oschadbank’s lending projects to small and medium size enterprises (SMEs) in Ukraine |
Baker & McKenzie acted as Ukrainian law counsel to the European Investment Bank |
|
USD 176.7 million |
Backed export financing extended to UkrLandFarming Plc, the largest Ukrainian agro-industrial holding company, by Export Development Canada and Credit Suisse AG |
Moris Group advised UkrLandFarming Plc |
|
USD 155 million |
Syndicated pre-export facility for Transoil Group arranged by, among others, Société Générale |
Sayenko Kharenko represened Société Générale |
|
CAD 200 million |
Loan to Ukraine by Canada, in a form of a loan agreement between Export Development Canada (EDC) as agent for Her Majesty the Queen in Right of Canada, and Ukraine, represented by the Minister of Finance of Ukraine, acting on the instructions of the Cabinet of Ministers of Ukraine, maturing in 2019 |
Lavrynovych & Partners represented Minister of Finance of Ukraine |
White & Case acted as English law counsel to the Ministry of Finance of Ukraine |
USD 130 million |
Syndicated facility for Nibulon, Ukraine’s leading grain trader for the ongoing crop harvesting and marketing season, provided by EBRD. The facility will replace the syndicated loan of USD 125 million signed in 2012, which expired in June 2014 |
Baker & McKenzie acted as Ukrainian law counsel to the EBRD |
The Paris office of Baker & McKenzie |
USD 128.7 million |
Backed export financing extended by Credit Suisse AG (Switzerland) to UkrLandFarming Plc |
Moris Group advised UkrLandFarming Plc |
|
USD 100 million |
Sunflower oil pre-export loan facility to MHP arranged by ING Bank N.V. |
Avellum Partners acted as Ukrainian counsel to ING Bank N.V. |
Norton Rose Fulbright acted as a foreign legal adviser to ING Bank N.V. |
up to USD 100 million |
Financing and management construction of new arenas in Kiev, Odessa, Dnepropetrovsk and Lviv in terms of preparing for and hosting the Final European Basketball championship Eurobasket 2015 in Ukraine |
ECOVIS Bondar & Bondar advised United Basketball Investments |
|
USD 75 million |
Loan to PJSC Raiffeisen Bank Aval provided by the EBRD |
Dentons advised the EBRD |
|
USD 65 million |
Financing to one of the largest agro holdings in Ukraine, Mriya group of companies, extended by IFC |
Asters represented IFC; Law Offices of OMP represented Mriya |
|
EUR 55 million |
Loan to the State Administration of Railway Transport of Ukraine (Ukrzaliznytsia) from the European Investment Bank (EIB) and the related sovereign guarantee |
Baker & McKenzie acted as Ukrainian law counsel to the EIB |
|
EUR 52.1 million |
Secured project financing extended by EBRD to a major European developer Multi Veste in Ukraine, for the construction and development of an international quality, inner-city Forum retail centre, located in Lviv, Ukraine |
Gide Loyrette Nouel represented EBRD |
|
EUR 50 million |
Secured loan to Astarta Group extended by the European Investment Bank (EIB) to finance the construction of silos and elevators. |
Gide Loyrette Nouel representded EIB |
Gide Loyrette Nouel acted for the EIB on matters of English law |
USD 51.25 million |
Loan finance to City Capital Group provided by a syndicated of lenders |
Gramatskiy & Partners advised City Capital Group |
|
USD 50 million |
Project finance through sale by Amtel Properties of its minority stake to the EBRD |
Vasil Kisl & Partners advised Amtel Properties |
|
EUR 44.1 million |
Financing extended by LBBW, AKA Banks to Creative Group, the second largest sunflower oil exporter in the country, for the development of its meat-producing business |
Gide Loyrette Nouel represented LBBW |
|
USD 40 million |
Secured lending to New Europe Property Fund L.P. managed by NCH Capital Inc., provided by EBRD |
Asters represented EBRD |
|
USD 37 million |
Backed export financing extended by AKA Ausfuhrkredit-Gesellschaft mbH (Germany) to AvangardCo Investments Public Limited, leader in the egg and egg processing industry in Ukraine and Eurasia |
Moris Group advised AvangardCo Investments Public Limited |
|
EUR 35 million |
Financing to Danosha, a major Ukrainian pig farming company, by the European Bank for Reconstruction and Development |
Sayenko Kharenko represened the EBRD |
|
USD 30 million |
Loan facility from the Black Sea Trade and Development Bank (BSTDB) to DTEK Trading Limited Liability Company, to finance the investment program of the DTEK Group in the energy sector |
Baker & McKenzie acted as Ukrainian law counsel to BSTDB |
Baker & McKenzie acted as English law counsel to BSTDB |
USD 25 million |
Loan to LLC Comfort Market Luks, a special purpose company ultimately owned by Arricano Real Estate Plc, provided by EBRD |
Asters represented EBRD |
|
USD 25 million |
Secured facility to Swiss subsidiary of Ukrainian leading grain trader from Banque De Commerce Et De Placements S.A. |
Integrites advised Banque De Commerce Et De Placements S.A. |
|
USD 25 million |
Term loan facility for Nibulon, Ukraine’s leading grain trader, logistic operator and exporter, extended by EBRD |
Baker & McKenzie acted as Ukrainian law counsel to the EBRD |
|
EUR 20 million |
Loan to Astarta, Ukraine’s leading agribusiness operator and sugar producer, provided by EBRD |
Integrites advised EBRD |
|
USD 17.9 million |
Backed export financing extended by Landesbank Baden-Württemberg (Germany) and AKA Ausfuhrkredit-Gesellschaft mbH (Germany) to AvangardCo Investments Public Limited |
Moris Group advised AvangardCo Investments Public Limited |
|
USD 15.8 million |
Export financing credit to LLC Ferrexpo Belanovo GOK extended by Private Export Funding Corporation (PEFCO) and guaranteed by Export-Import Bank of the United States |
Avellum Partners acted as Ukrainian counsel to LLC Ferrexpo Belanovo GOK |
Thomson Coburn LLP acted as a counsel to PEFCO |
USD 15.6 million |
Backed export financing extended by Landesbank Berlin AG (Germany) to AvangardCo Investments Public Limited |
Moris Group advised AvangardCo Investments Public Limited |
|
USD 15 million |
Refinancing of existing facilities to Obolon, one of the largest beverage producers in Ukraine |
Clifford Chance advised EBRD |
|
USD 14.5 million |
Export financing credit to LLC Ferrexpo Yeristovo Mining extended by Private Export Funding Corporation (PEFCO) and guaranteed by Export-Import Bank of the United States |
Avellum Partners acted as Ukrainian counsel to LLC Ferrexpo Yeristovo Mining |
Thomson Coburn LLP acted as a counsel to PEFCO |
USD 14 million |
Backed export financing extended by Coöperatieve Centrale Raiffeisen-Boerenleeban B.A. (the Netherlands) to AVANGARDCO Investments Public Limited, |
Moris Group advised AVANGARDCO Investments Public Limited |
|
USD 13 million |
Corporate support facility provided by EBRD to Globino group, secured by various immoveable and moveable assets |
Gide Loyrette Nouel represented EBRD |
Gide Loyrette Nouel acted for the EBRD as to matters of English law |
USD 10.7 million |
Facility to LLC Ferrexpo Poltava Mining, extended by AB Svensk Exportkredit (SEK) with BNP Paribas Fortis acting as an arranger and facility agent, and guaranteed by Exportkreditnamnden, the Swedish Export Credits Guarantee Board |
Avellum Partners acted as Ukrainian counsel to LLC Ferrexpo Poltava Mining; Egorov Puginsky Afanasiev & Partners Ukraine acted as legal counsel to BNP Paribas Fortis, AB Svensk Exportkredit (SEK) |
Morgan, Lewis & Bockius acted as legal counsel to LLC Ferrexpo Poltava Mining; Linklaters acted as English counsel to the creditor |
USD 10 million |
Loan facility to BASF arranged by UkrSibbank |
ILF represented BASF |
|
USD 10 million (prepaid/secured portion) |
Trade finance for Ukrainian leading grain supplier from Marubeni Corporation (Japan) |
Vasil Kisil & Partners advised Marubeni Corporation |
|
EUR 8.5 million |
Loan to JSC Farmak, a major pharmaceutical producer in Ukraine, provided by EBRD |
Asters represented EBRD |
Squire Patton Boggs (UK) LLP represented EBRD |
EUR 7.1 million |
Senior secured guaranteed loan to Rokytne Sugar Plant, a sugar refinery company in Ukraine, aimed at construction of a biogas plant to promote renewable energy in Ukraine |
Clifford Chance advised EBRD |
|
EUR 5 million |
Loan to the group of Ukrainian companies (Dutch Agrarian Company LLC, Ukrainian-Dutch Agrocompany LLC, Hlukhiv Elevator LLC) extended by Bontrup Holding B.V. (Netherlands) |
Jurimex Law Firm represented the group of Ukrainian companies |
|
USD 4 million |
Secured loan to Exco Plus Ltd provided by PJSC Kominvestbank |
Gramatskiy & Partners advised Exco Plus Ltd |
|
EUR 3.5 million |
Re-financing extended by LBBW to the leading diary producer Loostdorf for the purposes of infrastructure development of town |
Gide Loyrette Nouel represented LBBW |
|
over USD 1.5 million |
Loan to INMILCKO Plc, a holding company of a Ukrainian manufacturer of diary products, provided by OTP Bank |
Kibenko, Onika & Partners advised INMILCKO Plc |
Patrikios Pavlou & Associates LLC (Cyprus) |
USD 1.5 million |
Loan facilitiy to PTS UA Services Ltd from MAYBON SERVICES LIMITED |
Gramatskiy & Partners advised PTS UA Services Ltd |
|
USD 1.5 million |
Finance to Promkabel Electrica Ltd from Katko International АB |
Gramatskiy & Partners advised Promkabel Electrica Ltd |
|
USD 1.0 million |
Loan finance to Building Investments Ltd from CARROSTIA INVESTMENTS Ltd |
Gramatskiy & Partners represented Building Investments Ltd |
|
WND |
Real estate acquisition finance by Remex, a Danish investment company |
AEQUO advised Remex |
|
WND |
Project financing to Lutsk City Council aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to municipal company of Oleksandriya city aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to municipal company of Kamyanets-Podilsk city aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to Boryspil City Council aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to municipal company of Zhytomyr city aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to Lviv City Council aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to Myrhorod City Council (second stage) aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to Ivano-Frankivsk City Council (second stage) aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO (representing Teplodar PiVi LLC) |
|
WND |
Project financing to LLC Agro Master Plus company aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to LLC SGT Spivdruzhnist aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Aircraft lease financing for a leading Ukrainian corporate |
Sayenko Kharenko represented UBS |
Empty table cells in a foreign legal support column mean that the information is either not available, confidential or there were no foreign law counsels.
Table 3
Debt Restructuring / Liability Management
| Value | Transactions | Legal Support (Ukrainian Law) | Legal Support (Foreign Law) |
|---|---|---|---|
USD 1.7 billion* |
Comprehensive debt restructuring by Monier Group |
Egorov Puginsky Afanasiev & Partners Ukraine acted as Ukrainian legal counsel to Monier Group |
Kirkland & Ellis acted as international counsel to borrower Monier Group; Clifford Chance acted as international legal counsel to the finance parties |
PLN 1.64 billion (USD 439 million) |
Debt restructuring of Empik Media & Fashion Group, which owns River Island, GAP, Aldo and Esprit |
Sayenko Kharenko represented the lenders, inc. ING Bank Śląski S.A., Bank Polska Kasa Opieki S.A. and Bank Zachodni WBK S.A. |
|
USD 252.5 million |
First Ukrainian International Bank’s solicitation of consents from the holders of its outstanding loan participation notes due 2014 issued by Standard Bank Plc |
Sayenko Kharenko represented solicitation agent, ING Bank N.V., London Branch |
|
PLN 550 million (approx. USD 163 million) |
Restructuring and increase of the sum of PLN 495 million (approx. USD 147 million) multipurpose financing to Inter Cars S.A. |
Dentons advised Bank Polska Kasa Opieki, Bank Handlowy w Warszawie, mBank and ING Bank Śląski |
Dentons Warsaw office |
EUR 85 million |
Restructuring of secured loan made available by EBRD to Air Liquide Ukraine |
Gide Loyrette Nouel represented Air Liquide |
|
USD 88.3 million |
Restructuring of the outstanding Eurobond of VAB Bank |
Sayenko Kharenko represented the solicitation agent, UBS |
White & Case represented UBS as solicitation agent |
USD 63.5 million |
Loan restructuring of PrJSC Renaissance before The Bank of Cyprus PJSC |
LCF Law Group advised The Bank of Cyprus PJSC |
|
USD 43.4 million |
Loan restructuring of Heitman International |
Antika advised Heitman International |
Norton Rose Piotr Strawa and Partners advised Heitman International |
USD 36 millaion |
Restructuring of secured financing provided to a Ukrainian company operating Aladdin Shopping Centre (Kiev), by Deutsche Pfandbriefbank AG |
Andriy Kravets & Partners acted as Ukrainian law counsel to Deutsche Pfandbriefbank |
|
USD 36 million |
Restructuring of loan granted by EBRD to Interdon LLC, a Ukrainian subsidiary of listed company Sadovaya Limited (Cyprus) |
Vasil Kisil & Partners advised EBRD |
|
USD 30 million |
Restructuring of the secured loan of IFC to PJSC Concern Hlibprom, a Ukrainian bakery holding, and taking security over additionally issued shares by the borrower |
Gide Loyrette Nouel represented IFC |
Gide Loyrette Nouel acted as English law counsel to IFC |
USD 30 million |
Restructuring of a secured loan facility to Swiss subsidiary of a leading Ukrainian grain trader by Rabobank International |
Integrites advised Rabobank International |
|
USD 23 million |
Loan restructuring of Natalka City trade centre in Odessa |
Sayenko Kharenko represented the lender, OTP Bank Plc (Hungary) |
|
EUR 11 million |
Restructuring of security under EBRD loan to Ukrproduct Group |
Gide Loyrette Nouel represented EBRD |
|
USD 10 million |
Restructuring of a debt by a Ukrainian retail group from Alfa-Bank |
Arzinger advised Alfa-Bank |
|
USD 10 million |
Acquisition of Alfa-Bank bad debts portfolio from a subsidiary of an international bank operating in Ukraine |
Arzinger advised Alfa-Bank |
|
USD 6.5 million |
Restructuring of a loan provided to a Ukrainian real estate developer by Volksbank |
Arzinger advised Volksbank |
|
Appr. USD 3.6 million |
Restructuring of debt by Argo-Layn LLC to group of Chinese creditors under LC issued by PJSC Unicombank to Bank of China |
TCM Group Ukraine represented Bank of China, Argo-Layn LLC and PJSC Unicombank |
TCM Group China advised a group of Chinese creditors and Bank of China |
EUR 4 million |
Restructuring of the loan granted to a Ukrainian agricultural holding by Big Dutchman AG |
Arzinger advised Big Dutchman AG |
|
USD 3 million |
Restructuring of corporate debt, both secured and unsecured, owed by a Ukrainian company to Crédit Agricole |
Asters represented CIB Credit Agricole |
|
USD 2 million |
Extension of loan terms for VENDROX ENTERPRISES LIMITED in agreements with City Capital Group |
Gramatskiy & Partners advised City Capital Group |
|
USD 1.7 million |
Restructuring of debt by Ukrainian company Vassma LLC to a group of Chinese creditors |
TCM Group Ukraine advised a group of Chinese creditors |
TCM Group China advised a group of Chinese creditors |
Appr. USD 1.7 million |
Restructuring of debt by Kobalt LLC to Foton Corporation Co. Ltd |
TCM Group Ukraine represented Foton Corporation Co. Ltd and Kobalt LLC |
TCM Group China advised Foton Corporation Co. Ltd |
USD 1.1 million |
Loan restructuring between Servis na Saksaganskogo LLC, natural persons and Bank Cambio |
Jurimex Law Firm represented Servis na Saksaganskogo LLC |
|
Appr. USD 1 million |
Restructuring of debt by EuroPr LLC to Sumec Group Corporation |
TCM Group Ukraine represented Sumec Group Corporation and EuroPr LLC |
TCM Group China advised Sumec Group Corporation |
WND |
Restructuring of an existing debt of Ukrainian insurance company under assistance agreement with Company Asian Assistance (Thailand) Co., Ltd., a Thai insurance company, paying insurance recovery to Ukrainians in Thailand |
Andriy Kravets & Partners advised Company Asian Assistance Co., Ltd |
|
WND |
Sale of bad debts portfolio by Kredobank (PKO Bank Polski Group) |
Arzinger advised PKO Bank Polski Group |
|
WND |
Restructuring of security obligation owed by a Ukrainian borrower to Irish Bank Resolution Corporation Limited |
Egorov Puginsky Afanasiev & Partners Ukraine acted as legal counsel to Irish Bank Resolution Corporation Limited |
|
WND |
Debt restructuring by developers (Ukrainian individuals) of Diversido Mobile, mobile software developer, before investors |
Juscutum represented developers of Diversido Mobile |
|
WND |
Debt restructuring of TELE-FONIKA Kable S.A., one of the largest cable companies in Central and Eastern Europe |
Sayenko Kharenko represented the lenders, inc. mBank S.A., Bank Zachodni WBK S.A. and ING Bank Śląski S.A. |
* Global value
Table 4
Mergers and Acquisitions, Joint Ventures Establishing
| Value | Transactions | Legal Support (Ukrainian Law) | Legal Support (Foreign Law) |
|---|---|---|---|
USD 50.1 billion* |
Merger of equals between Lafarge and Holcim, the world’s biggest cement manufacturers |
Avellum Partners acted as a counsel to Lafarge and Holcim |
Hamburger AG acted as international legal counsel to Holcim; Cleary Gottlieb Steen & Hamilton (France) acted as international legal counsel to Lafarge |
EUR 5 million |
Acquisition of a group of crops farming companies by Briziums |
Gide Loyrette Nouel represented Briziums |
|
USD 3.3 billion |
Sale of control over Foster Wheeler to AMEC Plc |
Avellum Partners advised Foster Wheeler Group; Sayenko Kharenko advised AMEC Plc |
Freshfields Bruckhaus Deringer advised Foster Wheeler Group; Linklaters advised AMEC Plc |
USD 1 billion* |
Acquisition of the agro-chemical division of Chemtura Corporation by Platform Specialty Products Corporation |
Nobles acted as a local counsel to Platform Specialty Products Corporation for the Ukrainian aspects of the transaction; Arzinger acted on the purchaser side, Platform Specialty Products Corporation |
Noerr acted as a counsel for the German and Russian aspects of the transaction; Greenberg Traurig (USA) acted as international leader; Eversheds acted for Chemtura Corporation |
USD 220 million |
Sale by Chevron Philips Chemical Company of its Ryton® polyphenylene sulfide business to Solvay |
Avellum Partners advised Chevron Philips Chemical Company; Sayenko Kharenko advised Solvay |
Jones Walker acted as international counsel to Chevron Philips Chemical |
EUR 202.5 million |
Acquisition of the Ukrainian assets of the Bank of Cyprus, including its Ukrainian subsidiary — PJSC Bank of Cyprus, its Ukrainian loan portfolio and certain loans of the former Laiki Bank (Cyprus), by PJSC Alfa-Bank (Ukraine) |
Baker & McKenzie advised shareholders of PJSC Alfa-Bank (Ukraine) |
The London and Moscow offices of Baker & McKenzie |
USD 200 million** |
Acquisition of the controlling stake of Alvogen, international pharmaceutical company (including Ukrainian subsidiaries), by Pamplona Capital Management, a private equity firm |
Sayenko Kharenko represented Pamplona Capital Management |
Lowenstein Sandler LLP and Allen & Overy represented Pamplona Capital Management |
EUR 107 million (USD 136 million) |
Acquisition of JSC Liepajas Metalurgs, Latvia’s biggest industrial enterprise as well as the only steel mill in Baltic states, by KVV Group, a leading Ukrainian group active in the scrap metal business |
AstapovLawyers advised KW Group; Vasil Kisil & Partners advsed JSC Liepajas Metalurgs |
|
EUR 104 million |
Sale by Lafarge of LLC Lafarge UralCement, operating cement plant in Korkino, Russia, to Dyckerhoff GmbH |
Avellum Partners advised Lafarge |
|
EUR 95 million |
Forming the joint venture of Siemens and Mitsubishi Heavy Industries in the metals technologies business. The implementation of the joint venture involved the carve out of the metals business of Siemens Ukraine into a new Ukrainian Limited Liability Company SIEMENS VAI Metals Technologies |
Baker & McKenzie advised Siemens Ukraine; Gide Loyrette Nouel represented Mitsubishi Heavy Industries, Ltd |
|
over USD 10 million |
Encumbering the shares of Universalna Insurance Company JSC to secure its obligation on the provided financing |
AstapaovLawyers advised European Bank for Reconstruction and Development |
|
USD 10 million |
Acquisition of ten retail sites from a Russian retailer X5 Retail Group (Perekrestok), by LLC Omega (Varus) |
AstapovLawyers advised Varus |
|
USD 9 million |
Sale of shares of Zaliv Shipyard to non-residents. |
FCLEX represented Zaliv shipyard |
|
USD 5 million |
Sale by SBE Sustainable Energy Holding, German agricultural investor of its Ukrainian business to a Ukrainian farming and trading company |
Gide Loyrette Nouel represented SBE Sustainable Energy Holding |
|
USD 2.5 million |
Sale of corporate rights of Comodo Company LLC, which owns a big medical center in Ukraine, to a private client, non-resident of Ukraine |
LCF Law Group advised owners of Comodo Company LLC |
|
USD 2 million |
Acquisition of shares issued by Stakhaniv carriage plant by Galychpharm |
FCLEX represented Galychpharm |
|
USD 1 million |
Sale by Teploenergomontazh Ltd of corporate rights of Teploengineering Ltd to foreign investor — BROWMANT TRADE A.G. |
Gramatskiy & Partners advised Teploenergomontazh Ltd |
|
USD 0.925 |
Acquisition of 100% stake in factoring company Smart Group by Bank Standart |
Gryphon Investment Consulting Group advised Bank Standart |
|
USD 0.45 million |
Acquisition of an electrified railway over 2 km long and a power line by LLC Ferrexpo Yeristovo Mining for the purpose of decreasing the cost of ore transportation |
Avellum Partners acted as Ukrainian counsel to Ferrexpo |
|
USD 0.3 million |
Purchase of significant stake in PJSC Kievprodmash Plant by PJSC FUIB |
Law Agency Absolute advised PJSC FUIB |
|
WND |
Sale by UBG Group of 80% in one of the leading chains of private medical clinics Dobrobut to Sansky Trading Limited Company |
AEQUO advised UBG Group; Law Offices of OMP advised Sansky Trading Limited Company |
|
WND |
Establishment of European rail logistics joint venture between VTG Aktiengesellschaft and international logistics prvovider Kuhne+Nagel in Ukraine |
Asters represented VTG Aktiengesellschaft |
K&L Gates acted as international counsel to VTG Aktiengesellschaft |
WND |
Repurchase of a majority stake in ISIDA-IVF, a leading Ukrainian obstetric-gynecological clinic, from Advent International, by minority shareholders of ISIDA-IVF |
Asters represented ISIDA-IVF; CMS Cameron McKenna represented Advent International |
|
WND |
Sale by Dynea Chemicals Oy of 100% of the shares of the Ukrainian subsidiary Dynea Ukraine Ltd to German company Mellifera Zehnte Beteiligungsgesellschaft mbH |
Egorov Puginsky Afanasiev & Partners Ukraine advised Dynea Chemicals Oy |
Roschier acted as global lead counsel for Dynea Chemicals Oy |
WND |
Acquisition of Agel Enterprises, a nutritional supplement supplier by Richmont Holdings, a private equity fund |
Egorov Puginsky Afanasiev & Partners Ukraine advised Richmont Holdings |
Baker Botts acted as a leading counsel |
WND |
Sale of a Ukrainian agricultural company by ABF, a German agricultural investor |
Gide Loyrette Nouel represented ABF |
|
WND |
Acquisition of Ukrainian branch of OSTEC (Russian Federation) by Chinese producer of electronic parts |
Goldblum and Partners represented a Chinese client |
|
WND |
Acquisition of company in Switzerland MET GLOBAL AG, provided for a Ukrainian supplier and imlementator of technical solutions for machine-building and metal works |
Goldblum and Partners represented the buyer |
Goldblum and Partners acted as a Swiss law counsel |
WND |
Repeated buy-out of shares of PJSC Gazinvest by a European holding |
Gramatskiy & Partners represented PJSC Gazinvest |
|
WND |
Acquisition of 100% stake of a factoring company by Idea Bank, member of Getin Holding S.A. |
Gryphon Investment Consulting Group advised Idea Bank |
|
WND |
Merger of Marks & Spencer Ukraine and GAP Ukraine |
Gvozdiy & Oberkovych advised Marks & Spencer Ukraine and GAP Ukraine |
|
WND |
Sale of several farms in Ukraine by Creamsonfield (group of agricultural companies managed by American Technologies) to Myronovsky Khlibopruduct |
Gvozdiy & Oberkovych advised Creamsonfield |
|
WND |
Equity financing in Russian-based food retail business DodoPizza by Ukrainian individual venture investor |
Juscutum Attorneys Association represented a Ukrainian investor |
|
WND |
Acquisition of the largest Ukrainian supplier of wood chip by Active Energy Group, the AIM-listed Biomass company |
Nobles advised Active Energy Group |
|
WND |
Alienation of Odessa oil extraction plant by Glencore International AG |
Law Offices of OMP advised Glencore International AG |
|
WND |
Sale of minority stake in Ukrainian subsidiaries of Allianz SE, the world’s largest insurance company |
Sayenko Kharenko represented Allianz SE |
|
WND |
Acquisition of the Ukrainian subsidiary of the Finnish chemical group Dynea by Capiton AG, a private equity firm |
Sayenko Kharenko represented Capiton AG |
ARNOLD Rechtsanwälte and BMH BRÄUTIGAM represented the financial investor Capiton AG |
WND |
Merger of Hapag-Lloyd, the German largest container shipping line, with Compañía Sud Americana de Vapores, the largest shipping company in Latin America |
Sayenko Kharenko represented Hapag-Lloyd AG |
Linklaters representing Chilean Compañía Sud Americana de Vapores (CSAV) |
WND |
Sale of the majority stake in HDI Strakhuvannya, a Ukrainian insurance company and a subsidiary of Talanx AG, one of the world’s biggest insurers, to the Bulgarian insurance group Euroins |
Sayenko Kharenko represented Talanx AG |
Empty table cells in a foreign legal support column mean that the information is either not available, confidential or there were no foreign law counsels.
*Global deal, total value in all jurisdictions.
**The deal value according to public sources.
Table 5
Transactions in the Antitrust Area
| Value | Transactions | Legal Support (Ukrainian Law) | Legal Support (Foreign Law) |
|---|---|---|---|
USD 54.7 billion |
Merger clearance for the acquisition of Shire Plc by AbbVie Inc. |
Sayenko Kharenko represented AbbVie Inc. and Shire Plc; Asters represented AbbVie Inc. |
Slaughter & May acted as international counsel to Shire Plc; Herbert Smith acted as international counsel to AbbVie Inc. |
USD 50.1 billion |
Merger control clearance for the merger of equals of Lafarge and Holcim |
Avellum Partners represented Lafarge and Holcim |
Hamburger AG acted as international counsel to Holcim; Cleary Gottlieb Steen & Hamilton LLP acted as international counsel to Lafarge |
USD 28 billion |
Merger clearance for the acquisition of the controlling stake of Forest Laboratories Inc. by Actavis Plc |
Sayenko Kharenko represented Actavis Plc and Forest Laboratories Inc. |
Skadden, Arps, Slate, Meagher & Flom acted as international counsel for Actavis Plc and Forest Laboratories Inc. |
USD 14.2 billion |
Merger clearance for the acquisition by Bayer of Consumer Care Business of Merck |
Asters represented Bayer AG, Merck & Co., Inc. |
|
USD 11.7 billion |
Merger clearance for the acquisition by ZF Friedrichshafen AG of TRW Automotive Holdings Corp |
Asters represented TRW Automotive Holdings Corp |
|
USD 9.54 billion |
Merger clearance for the acquisition of Kinopoisk by Yandex group |
Arzinger represented both parties |
|
USD 7.6 billion |
Merger clearance for the acquisition of AerCap Holdings N.V. by American International Group, Inc.; and for the acquisition of International Lease Finance Corporation by AerCap Holdings N.V. |
Sayenko Kharenko represented AerCap Holdings N.V., International Lease Finance Corporation, American International Group, Inc. |
|
App. USD 5.8 billion |
Merger clearance for the acquisition of Oriental Brewery Co., Ltd by Anheuser-Busch InBev S.A./N.V. |
Sayenko Kharenko represented Anheuser-Busch InBev S.A./N.V. and Oriental Brewery Co., Ltd |
|
USD 5.4 billion |
Merger clearance for the indirect acquisition by the Blackstone Group L.P. of 100% shares of Pinafore Holdings B.V., the parent company of Gates Corporation |
Asters represented The Blackstone Group L.P., Pinafore Holdings B.V. |
|
USD 5.4 billion |
Merger and antitrust clearances for the acquisition by Eli Lilly of Novartis’ Animal Health business |
Asters represented Eli Lilly and Company; Sayenko Kharenko represented Novartis AG |
Freshfields Bruckhaus Deringer acted as international counsel for Novartis AG and Eli Lilly and Company |
USD 3.6 billion |
Merger clearance for the acquisition by Nestlé of shares in Galderma Pharma and Galderma International |
Asters represented Nestlé S.A., Galderma Pharma S.A., Galderma International S.A.S. |
|
USD 3.3 billion |
Merger clearance for the acquisition of control over Foster Wheeler AG by AMEC Plc |
Avellum Partners represented Foster Wheeler Group; Sayenko Kharenko represented AMEC Plc |
Freshfields Bruckhaus Deringer acted as international legal counsel to Foster Wheeler Group; Linklaters acted as international counsel to AMEC Plc |
USD 3.2 billion |
Merger clearance for the acquisition by The Carlyle Group L.P. of the Industrial Packaging Group from Illinois Tool Works Inc. |
Asters represented The Carlyle Group L.P., Illinois Tool Works Inc. |
|
USD 3.2 billion |
Merger clearance for the acquisition of the controlling stake of Ranbaxy Laboratories Limited by Sun Pharmaceutical Industries Ltd |
Sayenko Kharenko represented Sun Pharmaceutical Industries Ltd and Ranbaxy Laboratories Limited |
Shearman & Sterling acted as international counsel to Sun Pharmaceutical Industries Ltd and Ranbaxy Laboratories Limited |
USD 2.5 billion |
Merger clearance for concentration and concerted actions in connection with acquisition by Microsoft of Mojang Synergies AB |
Asters represented Microsoft and Mojang Synergies AB |
|
EUR 2.2 billion |
Merger clearance for the acquisition of WILD Flavors GmbH by Archer-Daniels-Midland Company |
Sayenko Kharenko represented Archer-Daniels-Midland Company and WILD Flavors GmbH |
Skadden, Arps, Slate, Meagher & Flom acted as international counsel to Archer-Daniels-Midland Company and WILD Flavors GmbH |
More than EUR 2.1 billion |
Merger clearance for the acquisition of a 35% stake in the Italian energy-grid holding company CDP Reti S.p.A. SGCC by the State Grid Corporation of China |
Gide Loyrette Nouel, in cooperation with Chiomenti Studio Legale (Rome) represented the State Grid Corporation of China (SGCC) |
Chiomenti Studio Legale acted as international counsel to the State Grid Corporation of China |
App. USD 1.826 billion |
Merger clearance for a joint venture between Siemens Aktiengesellschaft and Mitsubishi Heavy Industries, Ltd. |
Asters represented Siemens Aktiengesellschaft and Mitsubishi Heavy Industries, Ltd. |
|
App. USD 1.8 billion |
Merger clearance for the establishment of joint venture by Hapag-Lloyd and CSAV |
Sayenko Kharenko represented Hapag-Lloyd and CSAV |
Freshfields Bruckhaus Deringer acted as international counsel to Hapag-Lloyd and CSAV |
USD 1,55 billion |
Merger clearance for the acquisition by Arcelor and Nippon of ThyssenKrupp Steel USA |
Baker & McKenzie represented Arcelor Mittal USA LLC, Nippon Steel & Sumitomo Metal Corporation and ThyssenKrupp Steel (USA) |
|
USD 1,5 billion |
Merger clearance for the acquisition of a 51% stake of Noble Agri Limited by COFCO Corporation |
Clifford Chance represented COFCO Group |
|
USD 1.4 billion |
Merger clearance for the indirect acquisition by Advent International Corporation of shares of Douglas Holding AG |
Asters represented Advent International Corporation and Douglas Holding AG |
|
USD 1.4 billion |
Merger clearance for the sale by JP Morgan Chase & Co of part of its stake in the portfolio of its One Equity Partners to Lexington Partners LP and Carlyle Group |
Asters represented Carlyle Group |
|
App. EUR 1.3 billion |
Merger clearance for the acquisition of OutokumpuOyj by ThyssenKrupp AG |
Sayenko Kharenko represented ThyssenKrupp AG and OutokumpuOyj |
|
App. USD 1,3 billion |
Merger clearance for the acquisition of a 51% stake in Nidera Capital B.V. by COFCO Corporation |
Clifford Chance represented COFCO Group |
|
App. USD 1.3 billion |
Merger clearance for the acquisition of Chiquita Brands International, Inc by Burlingtown UK LTD and Erichton Investments Ltd |
Sayenko Kharenko represented Burlingtown UK LTD, Erichton Investments Ltd and Chiquita Brands International, Inc |
Herbert Smith acted as international counsel to Burlingtown UK Ltd, Erichton Investments Ltd and Chiquita Brands International, Inc |
USD 1.1 billion |
Merger clearance for the acquisition of the controlling stake of Furiex Pharmaceuticals, Inc by Forest Laboratories, Inc |
Sayenko Kharenko represented Forest Laboratories, Inc and Furiex Pharmaceuticals, Inc |
Weil, Gotshal & Manges LLP acted as international counsel to Forest Laboratories, Inc and Furiex Pharmaceuticals, Inc |
USD 1.07 billion |
Merger control clearance for contemplated merger of Chiquita Brands International and Fyffes Plc to create the world’s biggest banana company |
AstapovLawyers represented Chiquita Brands International and Fyffes Plc |
King & Wood Mallesons SJ Berwin acted as transaction counsel |
USD 1.062 billion |
Merger clearance for the acquisition by Triton Fund of GEA Group’s Heat Exchangers HX Segment |
Asters represented Triton Fund and GEA Group |
|
USD 1.060 billion |
Merger clearance for the indirect acquisition by Advent International Corporation of shares of Mediq N.V. |
Asters represented Advent International Corporation and Mediq N.V. |
|
EUR 1 billion |
Merger clearance in connection with internal restructuring of Bayadera and a Ukrainian retail chain |
Avellum Partners represented Bayadera |
|
App. USD 1 billion |
Merger clearance for the indirect acquisition by the Group BI-Invest of 100% shares of Club Méditerranée S.A. |
Asters represented Global Resorts S.A.S. and Club Méditerranée S.A. |
|
App. USD 1 billion |
Merger clearances for the acquisition of joint control by First Pacific Company Limited and Wilmar International Limited over Goodman Fielder Limited |
Asters represented First Pacific Company Limited, Wilmar International Limited, Goodman Fielder Limited |
|
App. USD 930 million |
Merger clearance for the acquisition by Discovery Communications LLC, part of the Discovery Group, together with Liberty Group of ALL3Media Holding Limited |
DLA Piper Ukraine represented Discovery Communications LLC |
|
App. USD 911 million |
Merger clearances for the acquisition by Triton Fund of ALSTOM business |
Asters represented Triton Fund IV L.P. and ALSTOM |
|
App. EUR 840 million |
Merger clearance for the acquisition of Ranpak Holdings, Inc by Rhône Capital L.L.C. |
Sayenko Kharenko represented Rhône Capital L.L.C. and Ranpak Holdings, Inc |
Sullivan & Cromwell acted as international counsel to Rhône Capital L.L.C |
App. EUR 720 million |
Merger clearance for the acquisition of Club Med by Global Resorts |
Gide Loyrette Nouel represented Club Med |
|
App. EUR 657 million |
Merger clearance for the acquisition of Ansaldo Energia S.p.A. by Fondo Strategico Italiano S.p.A. |
Sayenko Kharenko represented Fondo Strategico Italiano S.p.A. and Ansaldo Energia S.p.A. |
|
App. USD 676 million |
Merger clearances for the indirect acquisition by Investindustrial of 100% shares of Arco S.p.A. and Flos S.p.A. |
Asters represented Padme S.r.l., Arco S.p.A., Flos S.p.A. |
|
USD 675 million |
Merger clearance for concentration and concerted actions in connection with the acquisition by iQor Holdings Inc of after-sales services companies of Jabil Group |
Asters represented iQor Holdings Inc and Jabil Circuit, Inc |
|
USD 665 million |
Merger clearance for the acquisition of The Colomer Group Participations, S.L. by Revlon Consumer Products Corporation |
Sayenko Kharenko represented Revlon Consumer Products Corporation and The Colomer Group Participations, S.L. |
|
App. USD 664.4 million |
Merger clearances for i) the concentration in connection with the acquisition by Aspen of Active Pharmaceutical Ingredient API manufacturing operations and related businesses from MSD as well as the option that provides the right to Aspen to sell some pharmaceuticals and ii) concerted action in the form of abstention from competition |
Asters represented Aspen Pharmacare Holdings Limited and Merck Sharp & Dohme B.V. |
|
App EUR 600 million |
Merger control clearance for the acquisition of 100% of shares of Kerneos by Astorg Partners |
AstapovLawyers represented Astorg Partners |
King & Wood Mallesons SJ Berwin acted as transaction counsel |
App. USD 505 million |
Merger and antitrust clearances for i) the acquisition by Panasonic Corporation of shares of Viko Elektrik ve Elektronik Endüstrisi Sanayi ve Ticaret A.Ş., and ii) related arrangements |
Asters represented Viko Elektrik ve Elektronik Endüstrisi Sanayi ve Ticaret A.Ş.; Peterka & Partners represented Panasonic Corporation |
|
App. EUR 475 million |
Merger clearance for the establishment of joint venture by Gamesa Energía, S.A. Unipersonal and Areva Energies Renouvelables SAS. |
Sayenko Kharenko represented Gamesa Energía, S.A. Unipersonal and Areva Energies Renouvelables |
Uría Menéndez acted as international counsel to Gamesa Energía, S.A. Unipersonal and Areva Energies Renouvelables |
USD 495 million |
Merger clearance for the acquisition by Abbott Laboratories Inc. of Veropharm |
Clifford Chance represented Abbott Laboratories |
|
App. USD 490 million |
Merger clearance for the acquisition of Neovia Logistics by Rhone Capital L.L.C. and Goldman Sachs Group, Inc |
Sayenko Kharenko represented Rhone Capital L.L.C. and Goldman Sachs Group, Inc |
|
USD 424 million |
Merger clearance for the acquisition by PZU SA of 4 insurance companies in Poland, Lithuania, Latvia, Estonia |
Ilyashev & Partners represented PZU Ukraine |
|
App. EUR 400 million |
Merger clearance for the acquisition of Stredoslovenská energetika, a.s. by Energetický a průmyslový holding, a.s. |
Sayenko Kharenko represented Energetický a průmyslový holding, a.s. and Stredoslovenská energetika, a.s. |
|
Over USD 410 million |
Merger clearance for concentration in connection with acquisition of a significant part of shares of BTA Bank Kazakhstan and Oranta by Kazkommercbank and private investor |
Ilyashev & Partners represented BTA Bank |
|
App. USD 341 million |
Merger clearance for the acquisition by Marine Harvest ASA of shares in Morpol ASA and ancillary transactions |
Asters represented Marine Harvest ASA and Morpol ASA |
|
App. EUR 320 million |
Merger clearance for the establishment of joint venture by Austevoll Seafood ASA and Kvefi AS |
Sayenko Kharenko represented Austevoll Seafood ASA and Kvefi AS |
|
App. USD 322 million |
Merger clearance for the acquisition by Westlake Chemical Corporation of shares of Vinnolit Holdings GmbH |
Asters represented Westlake Chemical Corporation and Vinnolit Holdings GmbH |
|
App. USD 279 million |
Merger clearance for the acquisition by KI Chemistry S. à r.l. of shares of the company Ciech S.A |
Asters represented KI Chemistry S. à r.l. and Ciech S.A |
|
EUR 260 million |
Merger clearance for the acquisition of Novaled AG by Cheil Industries Inc and Samsung Electronics European Holding Coöperatief U.A. |
Sayenko Kharenko represented Cheil Industries Inc, Samsung Electronics European Holding Coöperatief U.A. and Novaled AG |
|
App. USD 250 million |
Merger clearance for the acquisition of GK Holdings, Inc by Rhone Capital L.L.C. |
Sayenko Kharenko represented Rhone Capital L.L.C. and GK Holdings, Inc |
|
App. EUR 230 million |
Merger clearance for the acquisition of AAA Auto Group N.V. by ABRIS CEE MID-MARKET FUND II LP |
Sayenko Kharenko represented ABRIS CEE MID-MARKET FUND II LP and AAA Auto Group N.V. |
Weil, Gotshal & Manges LLP acted as international counsel to ABRIS CEE MID-MARKET FUND II LP and AAA Auto Group N.V. |
EUR 230 million |
Merger clearance for the acquisition by L'Oreal Group of Fipal S.A.S., a holding company to Decléor group, and Carita International S.A. |
Clifford Chance represented L'Oreal Group |
|
App. EUR 220 million |
Merger clearance for the acquisition of Paroc Group Oy by CVC Capital Partners Parry 1 Holding AB |
Sayenko Kharenko represented Parry 1 Holding AB and Paroc Group Oy |
Freshfields Bruckhaus Deringer (Brussels) acted as international counsel to Parry 1 Holding AB and Paroc Group Oy |
USD 220 million |
Merger clearance for the acquisition of Chevron Phillips Chemical by Solvay S.A. |
Sayenko Kharenko represented Solvay S.A.; Avellum Partners represented Chevron Philips Chemical Company |
|
App. USD 200 million |
Merger clearance for the acquisition by KKR Floorline Investments Pte. Ltd of shares of Gland Pharma Limited |
Asters represented KKR Floorline Investments Pte. Ltd and Gland Pharma Limited |
|
App. EUR 197 million |
Merger clearance for the acquisition of Valvitalia Holding S.p.A. by Finvalv S.r.l. |
Sayenko Kharenko represented Finvalv S.r.l. and Valvitalia Holding S.p.A. |
|
EUR 182.5 million |
Merger clearance in connection with acquisition by Sun European Partners, LLP of the Invensys Appliance division from its parent company Schneider Electric |
AstapovLawyers represented Sun Capital Partners Inc.; Vasil Kisil & Partners represented Invensys |
Kirkland & Ellis LLP acted as transaction counsel;, Linklaters acted as global adviser to Invensys Plc |
App. USD 180 million |
Merger clearance for the acquisition of control over Gloria Jeans La Mode Investissement S.a.r.l by Baring Vostok GJ Holding Sarl and The Goldman Sachs Group, Inc ELQ Investors II Limited |
Sayenko Kharenko represented GJ Holding S.a.r.l, ELQ Investors II Limited and La Mode Investissement S.a.r.l |
|
App. USD 177 million |
Merger clearance for the acquisition of Mould Technologies Holding AG by Husky Injection Molding Systems Ltd |
Sayenko Kharenko represented Mould Technologies Holding AG and Husky Injection Molding Systems Ltd |
|
App. USD 156 million |
Merger clearances for the acquisition by FIBA Beteiligungs-und Anlage GmbH of shares of Finedining S.à. r.l. |
Asters represented FIBA Beteiligungs-und Anlage GmbH and Finedining S.à r.l. KKR Group |
|
USD 149 million |
Merger clearance for the acquisition of the controlling stake of ASK Chemicals GmbH, Tecpro Holding Corp., ASK Chemicals Holding US LP by Rhone Capital LLC |
Sayenko Kharenko represented Rhone Capital LLC |
White & Case acted as international counsel to Rhone Capital LLC |
App. USD 130 million |
Merger clearance for the acquisition of the copper fungicide business of E. I. du Pont de Nemours and Company by Mitsui & Co Ltd Certis CU LLC |
Sayenko Kharenko represented Certis CU LLC |
Freshfields Bruckhaus Deringer (Brussels) acted as international counsel to Certis CU LLC |
App. USD 120 million |
Merger clearance for the acquisition by Marine Harvest ASA of control over the assets of Acuinova Chile S.A. |
Asters represented Marine Harvest ASA and Acuinova Chile S.A. |
|
App. EUR 108 million |
Merger clearance for the acquisition of Gutehoffnungshütte Radsatz GmbH by BONATRANS GROUP |
Sayenko Kharenko represented BONATRANS GROUP and Gutehoffnungshütte Radsatz GmbH |
|
App. EUR 105 million |
Merger clearance for the acquisition of Nestlé Waters SAS businesses by Eden Springs Europe B.V. |
Sayenko Kharenko represented Eden Springs Europe B.V. and Nestlé Waters SAS |
Allen & Overy acted as international counsel to Eden Springs Europe B.V. and Nestlé Waters SAS |
EUR 104 million |
Merger clearance for the acquisition by Dyckerhoff GmbH of LLC Lafarge UralCement |
Avellum Partners represented Lafarge, Sayenko Kharenko represented Dyckerhoff GmbH |
Morgan Lewis acted as international counsel to Dyckerhoff GmbH |
App. USD 108 million |
Merger clearance for the acquisition of Miller-St. Nazianz, Inc by CNH Industrial America LLC |
Sayenko Kharenko represented CNH Industrial America LLC and Miller-St. Nazianz, Inc |
Sullivan & Cromwell acted as international counsel to CNH Industrial America LLC and Miller-St. Nazianz, Inc |
App. USD 106 million |
Merger clearance for the acquisition by Marine Harvest ASA of minority shareholding in Grieg Seafood ASA |
Asters represented Marine Harvest ASA and Grieg Seafood ASA |
|
USD 90 million |
Merger clearance for the acquisition by Brookfield Infrastructure Fund GP II LLC owned by Brookfield Asset Management Inc of 50% shares of APM Terminals Elizabeth, LLC |
Asters represented Brookfield Infrastructure Fund GP II LLC and APM Terminals Elizabeth, LLC |
|
App. USD 83.5 million |
Merger clearance for the indirect acquisition by MFC Industrial Ltd of 100% shares of Fesil AS |
Asters represented MFC Industrial Ltd and Fesil AS |
|
App. USD 74 million |
Merger clearance for the acquisition by Henkel AG & Co. KGaA of Laundry Detergents/Home Care Business carried out under brand names IXI, Kokosal and E of PZ Cussons Plc |
Asters represented Henkel AG & Co. KGaA, PZ Cussons Plc |
|
App. EUR 59 million |
Merger clearance for the acquisition of Slovenský plynárenský priemysel, a.s. by Ministerstvo hospodárstva Slovenskej republiky |
Sayenko Kharenko represented Ministerstvo hospodárstva Slovenskej republiky and Slovenský plynárenský priemysel, a.s. |
|
USD 60 million |
Merger clearance for concentration and concerted actions in connection with the formation of the alliance by Monsanto Company and Novozymes BioAg A/S |
Asters represented Monsanto Company and Novozymes BioAg A/S |
|
App. EUR 56 million |
Merger clearance for the acquisition of GEVEKE B.V. by NIKKISO CO., Ltd |
Sayenko Kharenko represented GEVEKE B.V. |
|
App. USD 53 million |
Merger clearance for the acquisition of 10 Barrel Brewing by Anheuser-Busch InBev S.A./N.V. |
Sayenko Kharenko represented Anheuser-Busch InBev S.A./N.V. and 10 Barrel Brewing |
|
App. USD 47.4 million |
Merger clearances for establishing a joint venture between National Industrialization Company and Clariant AG |
Asters represented National Industrialization Company and Clariant AG |
|
Appr. EUR 30 million |
Merger clearance for the establishment of joint venture by Ferrostaal Industrieanlagen GmbH and Rheinmetall AG |
Sayenko Kharenko represented Ferrostaal Industrieanlagen GmbH and Rheinmetall AG |
|
USD 25 million |
Merger clearances for the acquisition by JSC Russian Railways Logistics of shares of Far East Land Bridge |
Asters represented JSC Russian Railways Logistics and Far East Land Bridge |
|
USD 21.7 million |
Merger clearance for the acquisition of shares of Dunayska sudnoplavna Stevedore Company LLC by Noble Jade B.V. |
LCF Law Group represented Dunayska sudnoplavna Stevedore Company LLC |
|
EUR 20 million |
Merger clearance for the acquisition by China Shipping Terminal Developments Hong Kong Co., Ltd, a subsidiary of China Shipping Group, of approximately 23.99% of issued shares in APM Terminals Zeebrugge NV |
DLA Piper Ukraine represented China Shipping Terminal Developments Hong Kong Co., Ltd; Asters represented APM Terminals |
|
App. USD 20.5 million |
Merger clearances for the acquisition by Carrier Corporation of control over FHP Manufacturing Company jointly with Robert Bosch GmbH |
Asters represented Carrier Corporation and FHP Manufacturing Company |
|
App. EUR 17.9 million |
Merger clearance for the acquisition of Norway Pelagic ASA by Austevoll Seafood ASA |
Sayenko Kharenko represented Austevoll Seafood ASA and Norway Pelagic ASA |
|
App. USD 19 million |
Merger clearance for the acquisition by OTP Bank Plc through OTP banka d.d. of shares in Banco Popolare Croatia d.d. |
Asters represented OTP Bank Plc and Banco Popolare Croatia d.d. |
|
App. USD 13 million |
Merger clearance for the acquisition of PJSC CDB Corall by Attiva Holdings Limited |
Sayenko Kharenko represented PJSC CDB Corall and Attiva Holdings Limited |
|
App. EUR 8.5 million |
Merger clearance for the acquisition of shares Outokumpu Oyj by Solidium Oy |
Sayenko Kharenko represented Solidium Oy and Outokumpu Oyj |
|
App. EUR 3.5 million |
Merger clearance for the acquisition of E.G.S. srl by MC Dental Holdings Europe GmbH |
Sayenko Kharenko represented MC Dental Holdings Europe GmbH and E.G.S. srl |
|
USD 3.5 million |
Merger clearance for 4 concentrations in connection with acquisition by HT Property Development OÜ of shares in Trigon Hartwall Ukrainian Properties AS; acquisition by TC Farming Limited Cyprus of: equity holdings in HT Property North OÜ Estonia, equity holdings in the authorized capital of Stilex Research and Production Company LLC Ukraine and equity holdings in the authorized capital of Topaz LLC Ukraine |
Alexandrov & Partners represented Trigon Group of Companies |
CMS Cameron McKenna acted as international counsel for a group of companies, which includes HT Property Development OÜ |
USD 3 million |
Merger clearance for the acquisition by Chongqing Xinwei Telecom Technology Co., Ltd of 95% shares of Jovius Limited |
Asters represented Chongqing Xinwei Telecom Technology Co., Ltd and Jovius Limited |
|
App. EUR 2 million |
Merger clearance for the acquisition of České aerolinie a.s. by Travel Service, a.s. and Korean Air Lines Co., Ltd. |
Sayenko Kharenko represented Travel Service, a.s., Korean Air Lines Co., Ltd. and České aerolinie a.s. |
White & Case (Prague) acted as international counsel to Travel Service, a.s., Korean Air Lines Co., Ltd. and České aerolinie a.s. |
App. USD 1 million |
Merger clearance for the acquisition by MIH Allegro B.V. of domain name TORG.UA from Avito Holding AB |
Sayenko Kharenko represented MIH Allegro B.V. and Avito Holding AB |
|
WND |
Merger clearance for the acquisition by Apollo Global Management of Endemol Netherlands |
AEQUO represented Apollo Global Management |
Morgan, Lewis & Bockius acted as international counsel to Apollo |
WND |
Merger clearance for the acquisition of number of companies active in IT and filtering systems markets by Tetra Laval |
AEQUO represented Tetra Laval |
Ashurst acted as international counsel to Tetra Laval |
WND |
Merger clearance for the acquisition of Rhiag Group Italy by Apax Funds |
AEQUO represented Apax Funds |
Ashurst acted as international counsel to Tetra Laval |
WND |
Merger clearance for the establishment of joint venture of Apollo Global Management with 21st Century Fox |
AEQUO represented Apollo Global Management |
Morgan, Lewis & Bockius acted as international counsel to Apollo; Allen & Overy acted as international counsel to 21st Century Fox |
WND |
Merger clearance for acquisition by Tetra Laval of Obram, Poland based and CIS active cheese equipment producer |
AEQUO represented Tetra Laval |
Ashurst acted as international counsel to Tetra Laval |
WND |
Merger clearance for the acquisition by IK Investments Partners of Evac Finland |
AEQUO represented IK Investments Partners |
Roschier acted as international counsel to IK Investments Partners |
WND |
Merger clearance for the acquisition of Oerlemans Foods from global food company Vion |
Egorov Puginsky Afanasiev & Partners Ukraine represented H2 Equity Partners |
Houthoff Buruma acted as international counsel to H2 Equity Partners Rothschild; De Brauw Blackstone Westbroek acted as international advisors to Vion |
WND |
Merger clearance for the acquisition of Agel Enterprises by Richmont Holdings |
Egorov Puginsky Afanasiev & Partners Ukraine represented Richmont Holdings |
Baker Botts LLP acted as a leading counsel |
WND |
Merger clearance for the acquisition of Intersystems by AGCO |
Egorov Puginsky Afanasiev & Partners Ukraine represented Intersystems Holdings Inc |
Kirkland & Ellis represented Intersystems |
WND |
Merger clearance for the sale of “torg.ua” to Napers Group |
Egorov Puginsky Afanasiev & Partners Ukraine represented Avito Holding |
|
WND |
Merger control clearance for divestment of the client`s laundry business to Henkel AG |
CMS Cameron McKenna represented PZ Cussons |
|
WND |
Merger clearance for the acquisition by Discovery France Holdings SAS of Eurosport SAS |
Asters represented Discovery France Holdings SAS and Eurosport SAS |
|
WND |
Merger clearances for the acquisition by Eli Lilly of shares of Lohmann SE |
Asters represented Eli Lilly and Company, Lohmann SE |
|
WND |
Merger clearance for the acquisition by Koch Industries, Inc. and The Goldman Sachs Group, Inc. of control over Flint Group GmbH |
Asters represented Koch Industries, Inc., The Goldman Sachs Group, Inc., and Flint Group GmbH |
|
WND |
Merger clearances for the concentration and concerted actions in connection with acquisition by Schneider Electric SE of Gunsan Elektrik |
Asters represented Schneider Electric SE and Gunsan Elektrik |
|
WND |
Merger clearance for the acquisition by Fater S.p.A of assets of The Procter & Gamble Company |
Asters represented The Procter & Gamble Company and Fater S.p.A. |
|
WND |
Merger clearances for the acquisition by S.L.Z.A. S.A. of Vicini S.p.A. |
Asters represented S.L.Z.A. S.A. and Vicini S.p.A. |
|
WND |
Merger clearance for the acquisition by Osram S.p.A. of Slay Paky S.p.A. |
Asters represented Osram S.p.A. and Slay Paky S.p.A. |
|
WND |
Merger clearance for the acquisition by Predica Prévoyance of control over Futures Energies Investissements Holding (joint venture with GDF SUEZ S.A.) |
Asters represented Predica Prévoyance Dialogue du Crédit Agricole S.A., GDF SUEZ S.A., Omnes Capital |
|
WND |
Merger clearance for the indirect acquisition by FIMI Opportunity Funds of Deere & Company |
Asters represented FIMI Irrigation Ltd; DLA Piper Ukraine represented Deere & Company |
|
WND |
Merger clearance for the acquisition by KWS SAAT AG of shares of GENECTIVE S.A. |
Asters represented KWS SAAT AG; DLA Piper Ukraine represented VILMORIN ET CIE S.A., GENECTIVE S.A. |
|
WND |
Merger clearance for the acquisition by PAI Partners of Lucebit GmbH and ERNI AGL AG |
Asters represented PAI Partners SAS and Lucebit GmbH |
|
WND |
Merger clearance for the acquisition by Shaneel Enterprises Ltd through SA Designer Parfums Ltd of control over the part of fragrances business of The Procter & Gamble Company |
Asters represented SA Designer Parfums Ltd and The Procter & Gamble Company |
|
WND |
Merger clearance for the acquisition by AstraZeneca Plc of control over certain Ukrainian assets of Bristol-Myers Squibb Company. |
Asters represented AstraZeneca Plc and Bristol-Myers Squibb Company |
|
WND |
Merger clearance for the acquisition by OJSC PhosAgro of the equity interest of LLC PhosAgro-Ukraine |
Asters represented PhosAgro and PhosAgro-Ukraine |
|
WND |
Merger control clearance in connection with establishment of P3 Network Alliance in the sphere of container liner shipping by A.P. Moeller — Maersk A/S, MSC Mediterranean Shipping Company S.A. and CMA CGM S.A. |
Asters represented A.P. Moeller-Maersk A/S, MSC Mediterranean Shipping Company S.A., CMA CGM S.A |
|
WND |
Merger clearance for the acquisition by Petroil Netherlands B.V. of 100% authorized capital stock of TPP-Terminal |
Asters represented Petroil Netherlands B.V. and TPP-Terminal |
|
WND |
Merger clearance for the acquisition of control by IPC (Independent Petroleum Company Holdings CY Limited jointly with Lambros Overseas S.A.) over Daumier Investments Limited |
Asters represented IPC Holdings CY Limited and Lambros Overseas S.A |
|
WND |
Merger clearance for the establishment of joint venture by Solvay S.A. and INEOS AG |
Sayenko Kharenko represented Solvay S.A. and INEOS AG |
|
WND |
Merger clearance for the acquisition of ALLC Ukraina by Agroregion B.V. |
Sayenko Kharenko represented ALLC Ukraina and Agroregion B.V. |
|
WND |
Merger clearance for the acquisition of the controlling stake of Citigroup Venture Capital International Investment G.P Limited by TRG Allocation Offshore Ltd (The Rohatyn Group) |
Sayenko Kharenko represented TRG Allocation Offshore Ltd; Citigroup Venture Capital International Investment G.P Limited |
|
WND |
Merger clearance for obtaining right to manage Hotel Bristol in Odessa by Starwood Hotels and Resorts |
DLA Piper Ukraine represented Starwood Hotels and Resorts |
|
WND |
Merger clearance for obtaining a right for Starwood Hotels and Resorts as to the management of Four Points by Sheraton Hotel in Zaporozhye |
DLA Piper Ukraine represented Starwood Hotels and Resorts |
|
WND |
Five merger clearances for acquisition by Ferrero of Oltan Grout (Turkey) |
DLA Piper Ukraine represented Ferrero |
|
WND |
Merger clearance for the multimillion acquisition of Benvic, a leading PVC compounder by OpenGate Capital |
Gide Loyrette Nouel represented OpenGate Capital |
|
WND |
Merger clearance for concentration in connection with transferring ownership rights for Volnogorsk Mining and Metallurgical Complex and Irshansk Mining and Concentration Complex to the State Enterprise Mining and Chemical Company |
Gvozdiy & Oberkovych represented State Enterprise Mining and Chemical Company |
|
WND |
Merger clearance for concentration in connection with acquisition of shares of INTERCREDITBANK by Soyus-Agro-Polis |
ECOVIS Bondar & Bondar Law Bureau represented INTERCREDITBANK and Soyus-Agro-Polis |
|
WND |
Merger clearance for concentration in connection with control acquisition of Altimo Cooperative and VimpelCom Ltd (Bermuda) by Storm |
Ilyashev & Partners represented Storm |
