News (#01-02 January-February 2017)

Deals

Merger clearance for Boehringer Ingelheim’s asset swap transaction with Sanofi

Sayenko Kharenko has provided legal assistance in obtaining merger clearance with the Antimonopoly Committee of Ukraine for the EUR 22.8 billion acquisition of Sanofi’s animal health business (Merial) by Boehringer Ingelheim through an asset swap in exchange for Boehringer Ingelheim’s consumer healthcare business.

The transaction would allow Sanofi to become a global leader in consumer healthcare. Combining Merial’s and BoehringerIngelheim’s complementary strengths would create the second largest player on the global animal health market.

Sayenko Kharenko’s competition team advising on the project included counsel Maksym Nazarenko, associates Julia Kuyda and Igor Pomaz, and was led by partner Vladimir Sayenko.

 

AVELLUM advised EBRD

AVELLUM acted as Ukrainian law counsel to the European Bank for Reconstruction and Development in connection with the EUR 1.4 million loan facility to the KHASK industrial group.

KHASK is a Ukrainian major producer and exporter of self-adhesive tapes and packaging materials. The loan facility is used to finance the purchase and installation of a solvent recuperation system, related general construction and capital investment related to energy efficiency.

AVELLUM’s team was led by senior associate Taras Dmukhovskyy, with significant support from associates Taras Stadniichuk and Orest Franchuk, under the supervision of partner Glib Bondar.

 

AEQUO advised multiple lenders on restructuring of multi-million loan facilities

AEQUO has advised Portigon AG (Düsseldorf, Germany), UniCredit Bank Czech Republic and Slovakia, a.s. (Prague, Czech Republic) and other lenders on restructuring of multi-million loan facilities granted to major Ukrainian automotive industry company. The firm advised the lenders on potential enforcement procedures, in Ukraine and abroad, negotiated the revised repayment terms, drafted the restructuring documentation as well as controlled fulfillment of conditions precedent to the restructuring transaction. Upon completion of the transaction AEQUO issued a legal opinion for the lenders. The transaction was supported by Bohdan Dmukhovskyy, senior associate, under the supervision of Yulia Kyrpa, partner and head of Banking & Finance. Allen & Overy advised on all aspects arising out of English, German and Czech Republic law elements of restructuring.

 

Sayenko Kharenko advised on sale of Aegon Life Ukraine

Sayenko Kharenko acted as legal counsel to Aegon Group on the sale of 100% shares in PrJSC Insurance Company Aegon Life Ukraine to TAS Group.

Sayenko Kharenko provided full transaction support, including general advice on corporate law and regulatory matters, deal structuring, development and negotiation of all transactional documents and assistance with completion of the transaction. The Sayenko Kharenko team was led by counsel Alina Plyushch and included associates of the corporate and M&A practice Dmitry Riabikin and Mykhailo Grynyshyn. The project was supervised by partner Andrey Liakhov.

 

Asters advised rail operator Ukrzaliznytsia

Asters, alongside White & Case LLP (UK), acted as legal counsels to PJSC Ukrzaliznytsia, the state Ukrainian railway company, in connection with restructuring of USD 500 million 9.5% loan participation notes due 2018. The reprofiling includes exchanging 2018 notes for new USD 500 million 9.875% notes due 2021 and amending the loan agreement.

Asters advisory role included full legal support on Ukrainian law matters, assistance in negotiating and drafting transaction documents, registration of amendments to foreign loans with the National Bank of Ukraine, assistance in obtaining all necessary regulatory approvals, advising on banking and finance and other Ukrainian law matters.

Asters’ restructuring team advising on the project consisted of senior partner Armen Khachaturyan and associates Olena Nikolenko and Oleksandr Khomenko.

 

Eurobank Ergasias S.A. sells Universal Bank to TAS Group

Baker McKenzie’s Kiev office advised Eurobank Ergasias S.A., one of the largest banks in Greece, on the sale of its Ukrainian subsidiary, Universal Bank, to one of the fastest-growing financial and industrial groups in Ukraine, TAS Group, owned by Ukrainian businessman Serhiy Tihipko. The transaction follows Eurobank’s strategic plan to focus on core markets where they already have a significant presence.

Baker McKenzie’s Kiev team working on this transaction was led by partner Ihor Olekhov, with key input from senior associate Andrii Moskalyk and associates Bogdan Dyakovych, Stepanyda Badovska, Alyona Furda and Olena Serpukhovitina.

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