DEALS:

Asters — legal counsel to Primestar Energy FZE

Asters acted as a legal counsel to Primestar Energy FZE on the purchase of 100% of shares in Ukrgazprombank PJSC.

Legal support in the transaction included: advising on competition and banking law matters, transaction structuring, drafting relevant transaction documents, and coordinating the execution and closing procedures for the transaction. Asters’ team included partners Yevgen Porada  and Alexey Pustovit, associates Iryna Scherbyna, Olena  Tsygulska and Andriy Zharikov.

Sayenko Kharenko — legal advisor to Ukreximbank

Sayenko Kharenko acted as a legal advisor to state-owned Ukreximbank on the restructuring of its Eurobond issues due 2015, 2016 and 2018. This was the first debt restructuring carried out in line with the requirements of the IMF’s Extended Fund Facility.

The Eurobonds subject to restructuring included two senior notes issues due 2015 and 2018 and a subordinated notes issue due 2016. The restructuring covered extension of the maturity of each of the notes issues by seven years, increasing the coupon and modifying the repayment schedule from bullet to amortizing repayment. Sayenko Kharenko’s team included counsel Anton Korobeynikov, associates Marta Lozenko, Taras Shyb, Dmytro Vasylyna, and was led by partner Michael Kharenko.

Dentons advised Turkcell on acquisition of Astelit

Dentons advised Turkcell, the leading mobile phone operator in Turkey, in Ukraine on the acquisition of SCM Holdings Limited’s 44.96% stake in Euroasia Telecommunications Holding B.V. based in the Netherlands, in which Turkcell holds a 55.04% stake. Euroasia owns 100% of Ukrainian mobile operator LLC Astelit, which operates on the Ukrainian mobile market under the “life:)” brand. SCM’s 44.96% stake will be acquired for USD 100 million.

The Kiev-based Dentons team was led by partner Adam Mycyk with significant input from associates Anna Tkachenko and Yaroslav Malomuzh.

Baker & McKenzie advised EBRD

The Kiev and Paris offices of Baker & McKenzie acted as Ukrainian and English law counsels to the European Bank for Reconstruction and Development (EBRD) in connection with a new syndicated loan facility of up to USD 130 million for Nibulon, Ukraine’s leading grain and oilseeds trader and producer. The loan will support Nibulon in its trading activity, including export sales. The firm’s team was led by partners  Ihor Olekhov and Michael Foundethakis with support from associates Maksym Hlotov, Nicholas Macheras and Victoria Ischenko.

AEQUO advised Ukrainian Business Group

On  26 August  2015 the Deposit Guarantee Fund and Ukrainian Business Group signed a Share Purchase Agreement for acquisition of 100% of the shares of PJSC RWS Bridge Bank, a bridge bank established on the basis of PJSC Omega Bank, a Ukrainian bank recently declared insolvent. Prior to selling the bridge bank most of the assets of the insolvent bank — in the aggregate amount of UAH 229.1 million — and equal amount of liabilities were transferred to the bridge bank by the DGF. AEQUO provided full legal support to the investor in the course of due diligence of the assets and liabilities of the insolvent bank and their transfer to the bridge bank, and obtaining of the regulatory approvals, as well as supporting the investor in the tender process undertaken by the DGF and assisting with structuring of the transaction and negotiating of the transaction documents with the DGF. The  team was led by partner Yulia Kyrpa and included senior associates Denys Kulgavyi and Maryna Fedorenko and associates Oleksander Tereshenko, Anton Babak and Yaroslav Lepko.