News (#09 September 2017)

Deals

EY Ukraine advised MK Group

EY Ukraine acted as the exclusive financial and legal advisor to MK Group in connection with the disposal of agricultural assets in Ukraine. EY efforts facilitated the acquisition by one of Kernels subsidiaries of a 100% interest in MK Group Ukraines farming business.Total consideration of USD 43.3 million has been paid for the full 100% interest in the business, which has a positive net working capital less net debt in excess of USD 4 million, cultivates more than 27,500 hectares of leasehold farmland and possesses over 170,000 tons of grain storage capacity in Central Ukraine.

The EY M&A project team was led by Mykola Korol, associate director, transaction advisory services. The EY legal team was led by Bogdan Malnev, senior associate, under the supervision of Albert Sych, partner, and with significant support from Vitalii Pustovyi, associate.

AEQUO advised EBRD

AEQUO has acted as Ukrainian law counsel to the European Bank for Reconstruction and Development in connection with the extension to OTP Leasing LLC of a UAH-denominated loan in the amount equal to USD 20 million. The loan will be used to finance leasing transactions with private Ukrainian companies, including small and medium-sized enterprises under the EBRDs SME Local Currency Programme. Having borrowed the UAH loan, OTP Leasing will be able to reduce its financial indebtedness in foreign currency. The AEQUO team consisted of senior associate Denys Kulgavyi, associate Valeriy Savva, and was supervised by Yulia Kyrpa, partner and head of Banking and Finance.

Baker McKenzies Kiev and Warsaw offices advised Greenyard

Baker McKenzie Kiev and Warsaw offices have advised Greenyard on the acquisition of Mykogen, a leading manufacturer of modern mushroom growing grounds. The value of the transaction was EUR 93 million, and the transaction itself is subject to certain conditions, including, amongst other things, obtaining the appropriate regulatory and third party approvals.

Baker McKenzies Kiev team was led by partner Viacheslav Yakymchuk with key input provided by associate Alyona Furda. Baker McKenzies Warsaw team was led by partner Piotr Rawski with key input provided by associate Łukasz Targoszyński.

DLA Piper advised on acquisition of Plarium

DLA Piper, together with Herzog Fox & Neeman, lead counsel to the financial adviser, has advised on the acquisition of Plarium Global by Aristocrat Leisure. The USD 500 million deal is due to be completed before 2018. Both companies are involved in producing popular entertainment content.

The team was led by the head of competition in Ukraine, Galyna Zagorodniuk, senior associate, Dmytro Tkachenko, and associate Artem Hrytsak. Additional support was provided by partner and head of real estate, Natalia Kochergina, and Natalia Pakhomovska, partner and head of the Intellectual Property practice.

Baker McKenzie advised Ukrainian Agrarian Investments

Baker McKenzies Kiev office has advised the management of Ukrainian Agrarian Investments (UAI) on the sale of a minority stake to Kernel Holding S.A. Kernel is the largest Ukraine-based diversified agribusiness company in the Black Sea region with a share listing on the Warsaw Stock Exchange. The total valuation of UAI as a result of the sale of its 100% stake was USD 155 million.

The Baker McKenzie team that worked on this transaction was led by counsel Olha Demianiuk with key input from associate Alyona Furda.

CMS Cameron McKenna Nabarro Olswang advised on landmark financing of new grain terminal

CMS Cameron McKenna has advised M.V. Cargo with respect to two parallel loans made available to it by the European Bank for Reconstruction and Development and the International Finance Corporation. The loans, totalling USD 74 million, will partly finance M.V. Cargos construction of a new modern grain terminal in the Ukrainian Black Sea port of Yuzhniy. The total value of the investment in the project is expected to exceed USD 150 million, and construction of the grain terminal is expected to be finalised in 2018. The CMS financing team was led by Simona Marin and Kateryna Chechulina, and included Khrystyna Korpan and other lawyers from CMS offices in Luxembourg and The Netherlands. Graham Conlon, Tetyana Dovgan and Vitalii Mainarovych also continue to remain involved on the corporate/joint venture side.

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