Notable Shifts
Market Intelligence 2016
The legal market structure is a spot of the economy and is, by its very nature, sensitively flexible to all recent economic fluctuations. Market demand determines practices and industries development, and results in market segmentation.
This fourteenth edition of the national legal directory is, as always, a practical guide to navigate the Ukrainian legal market and valuable source researching the market landscape.
We realize that the process of completing questionnaires is a very demanding and time-consuming process. That is why we are very thankful to all participants of the research process for their corporate submission, and to all those lawyers that gave us their fully-fledged opinions and valuable comments in their individual feedbacks by each single practice area. The data and additional insights have been thoroughly collected by e-mail, phone and during personal meetings, as well as monitored from open sources and stored all year long.
The Handbook serves as a unique combination of practice areas and industries that cut offs the market. The current edition consists of 18 surveys and 22 rankings.
The level of credibility and trust in us as researchers has grown substantially. The submission of information on a confidential basis significantly broadened our vision and empowered us to be more objective and get a healthy picture of the market.
We also spent a great amount of time completing and structuring public transactions into the league tables. Reviewing transactional activity in a year-long period is a perfect way to benchmark positions of the major players in the marketplace. This span into five tables is presented in this section (see Tables 1-5).
Among the criteria of being included into the upper echelon is a combination of existing track record throughout the research period, complexity of performed work, practice diversity, client profile, capacity of the team, reputation.
We do also retain the right to mention those counsels and lawyers who do not provide their submission but are active throughout the research period and receive strong market feedback. This allows us to produce a complete picture.
Oleg Batyuk, Ukraine managing partner, Dentons
“Ukrainian business is actively considering foreign markets”
There are several trends worldwide which are having a big impact on the legal services industry. First of all, globalization. Local, regional and international law firms expand across borders, combine with other law firms, and form networks of lawyers.
The other trend is the change of the legal product from being individually customized into market-oriented. Along with this, profound penetration into the computer technology market is another factor that should not be overlooked. But these trends are yet to reach our market.
In terms of the market state, the volume of work for external counsel has decreased significantly. For example, international capital markets, mergers and acquisitions, real estate, private investment funds are almost in a frozen state. At the same time, there is substantial demand for corporate and banking restructuring. We are very much engaged in such projects.
Meanwhile, Ukrainian business is actively considering foreign markets, and some companies are moving into those regions where we are represented. Besides, we receive many requests relating to the overall assessment of the investment situation, for instance, in China, Canada, Germany, Poland, MENA region countries.
As regards foreign clients, they consider the market to be interesting and full of potential but also immensely challenging. There are niches of high activity: IT, agribusiness, pharmaceuticals, energy. The Ukrainian defense and infrastructure sectors could become very important.
Comings and Goings
Recent market conditions have resulted in the establishment of several start-ups, local expansions and outbound investments on foreign markets, exits of international powerhouses, and new expected but not so quick predicted arrivals.
In May 2015 CLACIS, a competition law advisory which focuses on matters regarding competition law and compliance in Ukraine, Russia and Kazakhstan announced its opening. Founding partner Antonina Yaholnyk is a dedicated expert with almost 20 years of legal practice.
In April 2015 Oleg Vdovychen left the Kiev Advocate law firm with a group of lawyersand established Vdovychen & Partners attorneys at law. The new firm has a sharp litigation focus.
LBL — Legal Bureau of Likarchuk started its work in October 2015 as a boutique law firm with its primary focus on disputes and corporate/M&A. The bureau’s head was Kostiantyn Likarchuk, the former co-founding partner of Avellum Partners. In the period between May and September 2015 he served as deputy chairman of the State Fiscal Service of Ukraine, head of Customs.
In October 2015 the new Ukrainian firm EVERLEGAL was launched. The firm is an amalgamation of two legal teams — senior associates of corporate and antitrust practices of the Kiev outfit of Clifford Chance and the team of L.A. Group attorneys at law. Evheniy Deyneko became the firm’s managing partner.
Jeantet, a French international law firm, was launched in Ukraine in Novem- ber 2015 by taking over the Kiev office of Gide Loyrette Nouel. Following the launch, Igor Krasovskiy, who headed the banking and finance practice, and Illya Tkachuk, head ofcorporate and M&A, were promoted to counsels.
Since 1 December 2015 the Clifford Chance office in Kiev has operated as the independent law firm Redcliffe Partners. The firm has four partners, Olexiy Soshenko and Dmytro Fedoruk, who were heads of Clifford Chance’s banking and finance and M&A/antitrust practices, as well as Rob Shantz and Sergiy Gryshko, lateral hires from PricewaterhouseCoopers and CMS Cameron McKenna, who headed the corporate and dispute resolution practices, respectively.
Fulfilling an ambitious strategy to provide full-service coverage across Emerging Europe and Central Asia, on 1 March 2016 Kinstellar opened itsoffice in Kiev, acquiring the new local firm LBL — Legal Bureau of Likarchuk. The Kiev office currently has a team of 11 lawyers and is headed by partner Kostiantyn Likarchuk. The firm has already made some key appointments of practice heads. Andriy Nikiforov joined the firm as counsel and head of banking, finance and capital markets, and restructuring and insolvency practices, while Iryna Nikolayevska joined the newly opened office as counsel and head of corporate/M&A.
In March 2016 the IT practice of Juscutum Attorneys Association created aspin off that resulted in the establishment of Axon Partners. Dmytro Gadomsky became its CEO.
Another notable departure of late is the exit of Iryna Marushko from Lavrynovych & Partners and establishment of Marushko & Associates.
Expansions: in Scope and Depth
It became a usual thing for Ukrainian law firms to open offices abroad. The motivation and access forms are different, ranging from following clients, accumulating new ones, diversifying high country risks in more stable and profitable jurisdictions.
In March 2015 Ilyashev & Partners opened an office in Moscow customized towards supporting litigations and arbitrations. Vladimir Zakharov was appointed the office head.
In September 2015 Lavrynovych & Partnersannounced the opening of the representative office in Vienna, Austria, based on the law firm BRANDSTETTER, BAURECHT, PRITZ & PARTNER Rechtsanwälte KG (BPPA).
Perhaps, the leader for outbound expansion of late is Integrites. The firm significantly broadened its geographical presence. At the beginning of 2015 the firm opened offices in Aktau and Atyrau (Kazakhstan), followed by opening offices in Guangzhou (China), Integrites Benelux BV in Amsterdam (Netherlands), and an office in Munich (Germany).
Another strategy of regional expansion is seen from GOLAW (previously known as Gvozdiy & Oberkovych). At the start of 2016 the firm pursued regional expansion and opened offices in Lviv and Odessa. The firm brought its established offering that appeared to be in demand for clients in the respected regions. In terms of practice areas, most attention is paid to tax advisory, litigation, white-collar crime, compliance.
Hires and Promotions
The market in personalities of 2015 was marked with unexpected departures as well as expected recognitions.
In January 2015 Asters counsels Oleksiy Demyanenko and Alexey Khomyakov were promoted to partners. Mr. Demyanenko focuses on transactional work (M&A, banking and finance, capital markets), aviation, corporate restructuring of business, currency control and cross-border planning for private clients. Mr. Khomyakov primarily focuses on taxation.
The past spring was hot for promotions and lateral moves. InMarch Kateryna Gupalo joined Arzinger as a counsel and head of tax and customs disputes as well as white collar defense practices.
The first quarter of 2015 was marked with the mass trend of lawyers move to the civil service. Amongst the key ones were: appointment of Sergiy Shklyar, founding partnerand head of dispute resolution, antitrust and competition at Arzinger, as adeputy minister of Justice of Ukraine for the Enforcement Service; Nataliya Mykolska (previously counsel at Sayenko Kharenko) became a deputy minister of Economic Development and Trade in Ukraine. In July 2015 Mariya Nizhnik, partner, head of antitrust and competition at AEQUO, was appointed First Deputy Chairman of the Antimonopoly Committee of Ukraine.
In May Andriy Stelmashchuk was elected the new managing partner of Vasil Kisil & Partners.
Egorov Puginsky Afanasiev and Partners Ukraine (EPAP Ukraine) announced the appointment of Gleb Bialyi (co-head of domestic litigation and head of international trade and customs) as partner effected from 1 July 2015.
Sayenko Kharenko enhanced its tax practice with a group of 4 tax lawyers guided by partner Serhiy Verlanov, who joined from PwC Legal.
In July 2015 Avellum announced the promotion of Yuriy Nechayev (corporate/M&A practice), to counsel; while AEQUO promoted to counsel an experienced antitrust and competition practitioner Sergey Denisenko.
In September 2015Avellumstrengthened dispute resolution practice with a new partner, Dmytro Marchukov. Hejoined from the international arbitration and cross-border litigation practice of EPAP Ukraine.
In September 2015 Olena Perepelynska, recognized expert in the field of international commercial arbitration, joined Integrites as a partner and head of CIS international arbitration practice from Sayenko Kharenko. Statnikov & Partners headed by Denis Statnikov joined Integrites to create white-collar crime advocacy practices. Shortly Integritesannounced joining of three partners from the Kiev office Gide Loyrette Nouel. Julian Ries, Oleksiy Feliv and Oleh Zagnitko with a 13-strong team came past October.
In October 2015 Maksym Cherkasenko left his position as partner and head of corporate and M&A at Arzinger and moved to the of counsel position.
In November 2015 Spenser & Kauffmann appointed Nickolas Likhachov its new counsel and head of the corporate and M&A practice.
On the eve of the past year Vasil Kisil & Partners announced expansion of its management team with promotion of Vladyslav Podolyak to counsel and head of intellectual property practice.
The new year was boosted by a new portion of promotions and significant hires.
Sayenko Kharenkopromoted Dmitry Taranyk to partner in the firm’s antitrust practice. The promotion brought the total number of partners in the firm to nine.
Oleksandr Voznyuk was appointed partner in competition and antitrust practice of Asters.
In January 2016EPAP Ukraineannounced the internal promotion of three counsels: Arsen Miliutin (co-head of tax and customs litigation), Viktoriya Podvorchanska (head of pharmaceuticals and healthcare)and Oleksandr Maydanyk (co-head of tax).This followed with thepromotion of Oleg Boichuk and Sergiy Grebenyuk to partners, increasing partnership in Ukraine to eight, and the total number of partners worldwide to 36. Mr. Boichuk is a head of the real estate practice and a co-head of corporate and M&A. Mr. Grebenyuk heads the criminal law practice.
The Ukrainian office of Wolf Theiss has strengthened its banking and finance practice with the arrival of Oleg Mazur (previously — Marchenko Danevych) in the capacity of counsel.
In FebruaryIntegritesstrengthened its dispute resolution practice with the arrival of a new partner in Moscow office, Andrey Ryabinin. Prior to joining he chaired the bankruptcy practice in Muranov, Chernyakov and Partners. Furthermore, the firm expanded its corporate and M&A practice in Ukraine with a new partner called Svyatoslav Sheremeta (he previously co-headed the legal department at Dragon Capital).
Finally, the partnership of Integrites announced the election of Oleksiy Felivas managing partner of the Kiev office
In April Astersannounced the promotion of Tetiana Vovk to the post of counsel in the firm’s competition and antitrust practice.
Spring of 2016 became a period of growing capacities and adding counsels at Spenser & Kauffmann:Igor Stepanov joined as head of the criminal law practice; Volodymyr Yaremko headed international arbitration and cross-border litigation; Maryna Tomash strengthened tax; Tetyana Ivanovych became the head of the newprivate clients practice;Tatiana Kharebava headedIP, IT and antitrust.
Sayenko Kharenko appointed three new counsels from senior lawyers: Olexander Droug (international commercial arbitration and commercial litigation, debt restructuring), Anzhela Makhinova (international trade) and Sergiy Smirnov (dispute resolution).
DLA Piper announced that Galyna Zagorodniuk (corporate and M&A, antitrust and competition) was admitted as an equity partner of DLA Piper International LLP. The promotion is effective from 1 May 2016 and will bring the total number of partners to 6 in Kiev.
Kostyantyn Likarchuk, managing partner of Kinstellar (Kiev)
“The legal services market still remains highly profitable in its premium segment”
Kinstellar announced its plans to open in Ukraine in 2008, when it was founded on the basis of Prague, Bratislava, Budapest and Bucharest offices of “Magic Circle” law firm Linklaters, which was leaving the CEE region in a strategic move to concentrate on its core markets. However, Kinstellar came to the Kiev launch only in 2016, when it acquired a local dispute resolution firm LBL — Legal Bureau of Likarchuk, established in 2015 by a team of dispute resolution lawyers, who had left Avellum, another leading Ukrainian law firm.
Kinstellar significantly expanded LBL’s practices by hiring rising stars in corporate and finance practices from the corporate sector and other leading international law firms operating in Ukraine and has been functioning as a full-service firm from day one.
The firm inherited a solid base of local clients from LBL/Avellum and quickly expanded it significantly with international clients.
With offices in the Czech Republic, Slovakia, Romania, Hungary, Bulgaria, Serbia, Turkey, Kazakhstan and now in Ukraine, Kinstellar is the main point of contact in Central and Eastern Europe and Central Asia for major international law firms, including US powerhouses Shearman & Sterling, Sidley Austin, Milbank, who traditionally have not been active on the Ukrainian legal market. With the entry of Kinstellar it is expected that these firms may be brought into the loop and, potentially, this may significantly increase competition for Ukrainian work on the foreign counsel side.
For the market, the entry of a major Central and Eastern European player is a sign that despite the annexation of the Crimea in 2014, a protracted economic crisis and continued unrest in the Eastern part of Ukraine, the legal services market still remains highly profitable in its premium segment, and strong international law firms still consider Ukraine as a prospective market.
After a number of exists of international law firms from Ukraine in 2015, including Clifford Chance’s sale of its Ukrainian operations to its legal team in Kiev, the entry of Kinstellar is a major sign of continued integration of the Ukrainian market with the markets of Central and Eastern Europe, where Ukraine geographically, historically and mentally belongs.
Dr. Oleksiy Feliv, managing partner of
Integrites Kiev office
“Entering new markets looks to be a good way out”
Establishing a presence of Ukrainian law firms in foreign jurisdictions is a great and definitely ambitious opportunity to boost one’s portfolio and diversify clients. Possible geographic directions for an expansion are stipulated by a number of factors, though the decisive one remains the need for our clients to follow them to new markets. It is precisely for this reason that Integrites opened full service offices in Kazakhstan and Russia. Although we position ourselves as a CIS law firm, we were driven by our clients looking more and more towards Western Europe and so we opened representative offices in London, Amsterdam, Munich and Guangzhou in China. The idea of these offices is to be the contact point for both inwards and outwards businesses and to establish close cooperation with our partner law firms in order to serve our clients best in the respective regions. With our office in London we cover the UK and related jurisdictions, with Amsterdam we cover the Benelux countries and with the office in Munich we catch Germany, Austria and Switzerland. Guangzhou is solely meant to cover China businesses.
The current trends on the Ukrainian legal services market show the strengthening positions of local law firms and temporary fall in the activity of foreign law firms. Despite the interest of several big foreign law firms in entering the Ukrainian market, the current situation is unlikely to change in 2016. Further increasing competition of the legal services market will condition law firms to significantly increase the quality of services, evolve new business and management models, diversify practices and develop new legal products. Innovations play a greater role nowadays. The legal services market shrank in Ukraine and entering new markets looks to be a good way out. These challenges will very likely cause further geographical expansion of Ukrainian firms. In our case we see opportunities and further development in Central Asian markets.
Structural Changes
2015 — first quarter of 2016 pursued structural changes in the Ukrainian legal market. New entrants to the market usually emerged as a result of spin offs and formed around strong individuals launching their practices. Meanwhile, the start-ups appeared to be more flexible in terms of cost management and this effected pricing on the market.
Addressing the international developments, this is obviously a world-wide trend when global strategies of market players are revised. The notable shift of refocusing on the high profitability markets and withdrawing presence on markets that do not possess these criteria, is gaining momentum, and is dictated by pure financial reasons. In view of the weak inbound investment activity, our market remains unattractive for global legal powerhouses.
As for the two recent international arrivals — Jeantet and Kinstellar — both arranged their access as takeovers of local teams.
Despite the market shrinkage, market players confirm a shortage of skilled legal personnel. Aggressive headhunting featured on the recruitment market and resulted in a huge number of cross-firm movements.
As for efficient management of law firms, it is obvious that “pure” lawyers are less valuable than those who sell services and showcase efficient BD efforts. Bearing this in mind, respective changes in the service sale mechanism are widely introduced on the market.
Major Ukrainian players are keen to nurture close relationships with other foreign counsels and international powerhouses. This appeared to be particularly reasonable as referrals and best friend networks are likely to be less consuming (in terms of money and time) than business development efforts aimed at general counsels and/or the business community.
The legal practices of the Big Four advisory firms’ are enhancing their capacities as legal market players. Their intention to develop a legal offering is once again a global trend which is much more challenging for conventional legal counsels in terms of growing markets.
Business reorganizations, new challenges and strategies resulted in a vivid rebranding trend. This was accompanied not only by a new visual identity but shortened or changed names. Avellumshortened its name from Avellum Partners to simplify usage; Gvozdiy & Oberkovych was renamed GOLAW. With the number of changes in Vasil Kisil & Partnersinvolving internal reorganization, the firm’s identity has been visually redesigned.
Market Contexts
Practice wise performance explicitly confirms that dispute resolution remains a relatively stable and profitable niche of the legal business. The domain of banking disputes tends to be a very significant part of litigation work. Another groundbreaking continuation of the past years is growth in criminal defense and white-collar crime. This field is traditionally operated by private practicing individuals, though both and criminal defense boutiques and full service players — are rapidly capturing this niche.
On the transactional front, M&A deals remained limited, while activity on capital markets consisted of only liability management mandates. As lawyers stressed, the structuring covered not only the business component, but personal assets component for beneficiaries of business groups.
Competing for limited mandates, external counsels realized that clients prefer teams with sector knowledge. The industry coverage and subsequent investment is mostly stipulated by the changing market contexts, making industry choice very focused on the most profitable industries, such as agriculture, pharmaceuticals and IT.
Certain niche services like cross-border asset tracing, transfer pricing or sports law are widely promoted on the market due not only to growing and emerging demand, but in expectation of a certain sort of boom in high end prospects.
Apart from work with clients, many law firms are actively involved in legislative drafting and advising on sectoral reforms. And this trend is obviously finding continuation.
Yaroslav Romanchuk,managing partner of International Legal Center EUCON
“Ukrainian business has started to actively search for ways to sell its products and services to European consumers”
The economic situation changed dramatically at the end of 2013 — beginning of 2014, the Russian market began to close rapidly and the European market started to open up actively after Ukraine signed the Association Agreement with the EU. Ukrainian business has started to search for ways to sell its products and services to European consumers. We felt this tendency in our company performance.
Before 2014 in Warsaw we had focused exclusively on supporting Polish and European businesses in their entering the Ukrainian market, and following these events we significantly changed the business activity of branch office in Poland crossing over to support Ukrainian business in its entering European Union markets via Poland.
Ukrainian manufacturers of products and services use tried and tested tactics of foreign counterparts in order to promote export positions. It is the creation of trading houses (companies) in the EU for risk diversification, including inflation, exchange, and taking advantage of opportunities on access to financial recources of European countries.
Statistics for 2014-2015 show that Ukrainian business most frequently chooses Poland when entering the European market.
In addition to a stable economy and close mentality, the important fact here is that the Polish authorities, central and local, assist Ukrainian business with company registration in this country. A Polish company where Ukrainian residents are the founding members can use all financial instruments: credits, loans, leasing and financing from European funds. By the way, the refinancing rate of the National Bank of Poland is currently 1.5% per year.
Thus, the EU office has become for us not only a competitive advantage with regard to discovering new clients for operating on the Ukrainian market but also the basis for launching a comprehensive service.
Tetyana Gavrysh,managing partner of ILF
“The full-service doctrine will develop alongside boutiques and start-ups”
Specialization has become a major trend on the Ukrainian legal services market in 2014-2016. More and more companies are focusing on specific industrial or product niches, stepping up advertising and rebranding in order to increase sales and their share of the market — companies like Alexandrov & Partners, AGA Partners, AVER LEX, AEQUO. It’s a time-proven strategy that works in an aggressive business environment, both for the legal industry and beyond.
Specialization allows companies to set themselves apart in the eyes of other companies as well as from the perspective of clients, who are often left wondering what the differences are between all those law firms. And let’s be honest, even market participants themselves can’t always answer that question.
Nevertheless, specializing (in niches, products and markets) isn’t all about marketing. It’s a comprehensive cycle of changes to the product, processes, team competence in hiring, motivation, and yes, marketing. The axis is always the client, a person with a certain way of thinking, not a company from some corner of industry with some income. That’s why a law firm seeking to specialize must base the transition on the needs of the clients. Then and only then can we expect better sales in the legal business.
The second problem of specialization that has been generating heated discussions in the market circles is should we stick to full-service or opt for boutique and startup law firms? In my opinion, there is no one answer to this question. The market will be able to accommodate all those business models, due to the varying needs and preferences of the clients. Still, in my experience, clients tend to choose trustworthy businesses, and people have been putting more trust in law firms lately. So the full-service doctrine will develop alongside boutiques and start-ups, which in turn will keep coming with the rise of information technologies and globalization. Is Ukraine’s legal market ready for such changes, whose strategy will ultimately prevail? Only time will tell, in 5 years at least.
Pricing
Client retention and attraction of new mandates is highly determined by pricing policies. Local clientele is more sensitive in this sense.
During our poll market participants noted a fall in prices for their legal work, emphasizing that their recent price arrangements with clients are fixed in Ukrainian hryvnya without any linkage to foreign currency. The management of costs (especially such important items as compensation and office lease) in local firms is predominantly carried out in the national currency. Given mitigation of currency risks this enables them to produce more favorable price offering.
Fixed budgets, caps and success fees are the main pricing methods. Market insiders also single out situations when law firms become involved in projects as investors and receive benefits in the event of a positive outcome for the project.
Lawyer-individualists (earlier, individual practicing lawyers worked mostly typical on the criminal defense market) became a widespread development in other parts of legal work. On leaving law firms they remained on the market but offered clients the same service for a much lower price. At present law firms testify to the fact that they feel competition from their side. On the contrary, criminal defense attorneys traditionally benefit from cooperation with established market players.
Clients are less capable of paying but are very demanding and selective. This trend is not new but is getting vivid year on year. While in previous years the extension of legal departments was observed mostly in local companies and business groups, today even international business present in Ukraine nurture their internal legal capacities to minimize outsourcing.
Prospects
The great hopes are still rest on the revival of international investments, as numerous anticipated business projects in Ukraine are currently suspended. Unfortunately, the recent speed and rate of economic recovery caused fair concerns inside the country and outside it. Thus, the optimistic scenario of facilitation of transactional activity has once again been postponed for better times.
There is no doubt that dispute resolution, antitrust and competition, tax, restructuring and bankruptcy all continue to grow. Distressed assets management would be another lucrative piece of the pie. Criminal defense, white collar crime and anti-corruption compliance are, according to lawyers expectations and global anti-corruption trends, have very good prospects.
The situation around the legal implications of Crimea’s annexation will not loose their sensitivity and topicality in the foreseeable future either. And as disputes with foreign counterparts continuing to grow, the expertise of Ukrainian law will be much needed.
Regulatory changes and recent reform of competition law may trigger new assignments for external counsels. Many market participants are interested in taking part in the new wave of privatization that was officially declared by the previous government. In the event of at least minimal macroeconomic stability, and given the historically low prices of Ukrainian assets, many experts predict M&A facilitation for the second half of 2016-2017. Among the industries of predicted transactional activity are agriculture, banking and finance, IT and FMCG industries. Furthermore, ongoing reforms in the energy sector may generate corporate and business restructuring work.
As 2015 became a continuation of moves into public service, in the near feature we are highly likely to observe the reciprocal trend of comebacks. Some individual examples can be seen even right now.
Apparently, the long-drawn crisis has challenged law firms to fight for new clients and market niches, introduce new solutions and innovations, pursuing flexibility and client care.
Table 1
Capital Markets / Liability Management
| Value | Transactions | Legal Support (Ukrainian Law) | Legal Support (Foreign Law) |
|---|---|---|---|
USD 15 billion |
Restructuring of thirteen sovereign and sovereign-guaranteed Eurobonds |
Avellum acted as Ukrainian legal counsel to the Ministry of Finance of Ukraine; Dentons advised the Group of bondholders, led by Franklin Templeton Investments, one of Ukraine`s largest private creditors |
Weil, Gotshal & Manges advised Ad Hoc Creditors` Committee; White & Case acted as English law counsel to the Ministry of Finance of Ukraine |
USD 1.475 billion |
Reprofiling of two Eurobonds of JSC Ukreximbank maturing in 2015 and 2018, and subordinated bond maturing in 2016, in compliance with the targets of the IMF-supported program |
Avellum advised the Ministry of Finance of Ukraine; Sayenko Kharenko advised JSC Ukreximbank |
White & Case acted as English law counsel to JSC Ukreximbank |
USD 1.2 billion |
Reprofiling of JSC Oschadbank 2016 and 2018 Eurobonds, in compliance with the targets of IMF-supported program |
Avellum acted as Ukrainian legal counsel to the Ministry of Finance of Ukraine; Sayenko Kharenko acted as legal advisor to JSC Oschadbank |
White & Case LLP acted as English law counsel to JSC Oschadbank regarding English law. |
USD 1.2 billion |
Consent solicitations and default waiver matters related to Metinvest`s bonds maturing in 2015, 2017 and 2018 |
Baker & McKenzie represented Metinvest |
Baker & McKenzie acted as international legal adviser |
USD 1 billion |
Issue of 1.847% Guaranteed Notes due 2020 fully guaranteed as to principal and interest by the United States of America, acting by and through the United States Agency for International Development (USAID) | Avellum advised the Ministry of Finance of Ukraine; Sayenko Kharenko acted as a legal counsel of the Initial Purchasers (Citi Group, JP Morgan, Morgan Stanley) |
White & Case acted as the foreign law counsel of the Ministry of Finance of Ukraine; Arnold & Porter acted as legal counsel to the Initial Purchasers (Citi Group, JP Morgan, Morgan Stanley) |
USD 750 million |
Ukreximbank`s solicitation of consents from the holders of its outstanding Eurobonds due 2015 |
Sayenko Kharenko represented the JSC State Export-Import Bank of Ukraine (Ukreximbank); Integrites advised Autonomy Capital | White & Case represented JSC Ukreximbank |
USD 550 million |
Restructuring of Kyiv City USD 250 million Eurobonds due 2015 and USD 300 million Eurobonds due 2016 |
Avellum represented the City of Kyiv; Sayenko Kharenko advised Goldman Sachs as lead manager |
White & Case acted as English law counsel to City of Kyiv; Linklaters acted as advisor to Goldman Sachs on English law matters |
USD 500 million |
Exchange offer in respect of outstanding USD 500 million 7.875% guaranteed notes due 2016 issued by Ferrexpo Finance plc. This exchange offer was coupled with a new issue of USD 160.7 million 10.375% guaranteed amortising notes due 2019 and a 25% cash consideration |
Egorov Puginsky Afanasiev & Partners Ukraine advised Credit Suisse and Morgan Stanley as joint dealer managers; Avellum acted as Ukrainian legal counsel to Ferrexpo |
Herbert Smith Freehills advised Ferrexpo on English, US and UAE law; Linklaters advised dealer managers and trustee on English and US law; Walder Wyss advised Ferrexpo as to Swiss law |
USD 420 million |
Liability management of loan participation notes issued by PJSC Commercial Bank PrivatBank |
Avellum advised PrivatBank; Sayenko Kharenko advised Commerzbank AG, the consent solicitation agent |
Linklaters represented Commerzbank AG |
USD 200 million |
Restructuring of outstanding USD 200 million Eurobonds due 28 April 2015 issued by DTEK, Ukraine`s leading energy holding |
Avellum advised DTEK; Sayenko Kharenko advised Deutsche Bank, the dealer manager |
Latham & Watkins acted as international counsel to DTEK; Linklaters acted as legal counsel to Deutsche Bank |
USD 200 million |
Restructuring of outstanding Eurobonds of Avangardco Investments Public Limited |
Sayenko Kharenko and DLA Piper advised Avangardco Investments Public Limited |
Latham & Watkins advised Avangardco Investments Public Limited |
USD 50 million |
Solicitation of consents of holders of USD 50 million 12.50% Guaranteed Notes of Agroton Public Limited due 2019 listed on the main market of the London Stock Exchange |
Baker & McKenzie represented Agroton Public Limited |
|
USD 10.4 million |
Cash tender offer to holders of USD 50 million Guaranteed Notes due 2019 by Agroton Public Limited listed on the main market of the London Stock Exchange |
Baker & McKenzie represented Agroton Public Limited |
|
WND |
All notes and new cash exchange offer transaction in relation to public debt instruments issued by Ferrexpo Finance plc |
Egorov Puginsky Afanasiev & Partners Ukraine advised Deutsche Bank AG |
Linklaters acted as English law counsel to the arrangers |
Table 2
Banking & Finance
| Value | Transactions | Legal Support (Ukrainian Law) | Legal Support (Foreign Law) |
|---|---|---|---|
EUR 1.8 billion |
New Macro-Financial Assistance (MFA-III) program for Ukraine arranged by the EU |
AEQUO advised the European Commission |
|
JPY 108.2 billion (USD 915 million) |
Loan from the Japan International Cooperation Agency to the Cabinet of Ministers of Ukraine for the purpose of implementing the Bortnychi Sewage Treatment Plant Modernisation Project |
Avellum acted as Ukrainian legal counsel to the Ministry of Finance of Ukraine |
|
USD 300 million |
Three-year guaranteed renewable facility from EBRD to NJSC Naftogaz of Ukraine for winter gas purchases |
Avellum advised EBRD; AEQUO advised NJSC Naftogaz of Ukraine |
|
EUR 200 million (USD 227.8 million) |
Loan from the KfW (Kreditanstalt für Wiederaufbau), a public law institution under the laws of the Federal Republic of Germany, to Ukraine |
Avellum acted as Ukrainian legal counsel to the Ministry of Finance of Ukraine |
White & Case acted as international counsel to the Ministry of Finance of Ukraine |
CAD 200 million (USD 155 million) |
5-year loan from Export Development Canada, Canada’s state export credit agency, to Ukraine. This transaction had to be tailored to the IMF-EFF program |
Avellum represented the Ministry of Finance of Ukraine; Dentons acted as a Ukrainian counsel to lender |
White & Case acted as international counsel to the Ministry of Finance of Ukraine; Dentons acted as international and Ukrainian counsel to lender |
USD 100 million |
Secured pre-export revolving loan facility to Myronivsky Hliboproduct Group arranged by ING Bank N.V. |
Avellum acted as a legal counsel to ING Bank N.V. |
|
USD 85 million |
Financing to PJSC Myronivsky Hliboproduct, one of the biggest agricultural producers in Ukraine, provided by EBRD |
Redcliffe Partners advised EBRD |
|
Up to EUR 75 million |
Financing mechanism for Ukrainian Residential Energy Efficiency Financing Facility, from EBRD for further distribution in the form of loans or grants among eligible private sector sub-borrowers |
Clifford Chance* advised EBRD |
Clifford Chance advised EBRD on English law aspects |
EUR 60 million |
Loan facility to LLC BASF provide by a foreing bank |
ILF represented LLC BASF |
|
USD 65 million |
Syndicated secured pre-crop and pre-export credit facility for Kernel Group, Ukraine’s leading agribusiness, arranged by a syndicate of banks |
CMS Cameron McKenna advised a syndicate of banks |
CMS (Prague) acted as English law counsel; Harney Westwood & Riegels advised on laws of British Virgin Islands |
USD 65 million |
Refinancing by the National Bank of Ukraine of JSC Bank Finance and Credit |
FCLEX represented PJSC Bank Finance and Credit |
|
USD 50 million |
Committed facility to Public Joint Stock Company Ukrtelecom from China Development Bank Corporation |
Asters advised China Development Bank Corporation |
|
EUR 40 million |
Loan to Kronospan UA, a Ukrainian subsidiary of Kronospan Holdings East Limited, provided by EBRD |
Sayenko Kharenko represented EBRD |
Bird & Bird represented EBRD |
USD 40 million |
Syndicated working capital loan to Industrial Group ViOil provided by the EBRD |
Sayenko Kharenko represented EBRD |
Watson Farley & Williams represented EBRD |
USD 35 million |
Committed and anticipated facilities to one of the largest agricultural producers in Ukraine — Astarta from IFC |
Asters represented IFC |
|
Up to EUR 25 million |
Secured loan facility from IFC to Nyva Pereyaslavshchyny, a leading Ukrainian pork producer |
EVERLEGAL advised Nyva Pereyaslavshchyny |
|
USD 25 million |
Loan to LLC DDSG Shipping Ukraine from Ferrexpo Finance PLC |
FCLEX represented LLC DDSG Shipping Ukraine |
|
USD 25 million |
Loan to Mriya Agro Holding for topping up its working capital in framework of debt restructuring by Mriya Group |
Arzinger represented lenders |
Latham & Watkins represented lenders |
EUR 14.5 million |
Syndicated loan for Ovostar Union, one of the Ukrainian leading agroindustrial companies, extended by AKA Ausfuhrkredit-GmbH and Landesbank Berlin AG |
Baker & McKenzie represented AKA Ausfuhrkredit-GmbH and Landesbank Berlin AG |
|
EUR 10 million |
Secured loan facility to Serinus, Canada based oil and gas production company, extended by EBRD |
Egorov Puginsky Afanasiev & Partners Ukraine advised EBRD |
Linklaters (London) represented EBRD; Ashurst, Dentons acted as legal counsel to Serinus |
USD 10 million |
Loan to the Ukrainian subsidiary of NCH Capital, one of the leading private equity funds in the US, from a Latvian bank |
AEQUO advised NCH Capital |
|
UAH 43.2 million |
Additional capitalization of Megabank, Ukrainian commercial bank, arranged by International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD) and KfW |
Baker & McKenzie represented IFC, EBRD and KfW |
|
WND |
Project financing to Sievierodonetsk City Council (first two stages) aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to Poltava City Council aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to Konotop City Council aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to PJSC Dneprotyazhmash company aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to Pivdenagropererobka LLC company aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to Slavutych City Council aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to Berdychiv City Council aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to Cherkasy City Council aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to Sumy City Council aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to Komsomolsk City Council aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to Chernivtsi City Council aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
WND |
Project financing to Kolomyia City Council aimed at implementing energy-saving technologies |
Sayenko Kharenko represented NEFCO |
|
*Since 1 December 2015 the office operates as independent law firm Redcliffe Partners. 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) |
|---|---|---|---|
Up to USD 400 million |
Amendment and restatement of pre-export facility to Kernel Group |
Clifford Chance* advised UniCredit Bank Austria |
|
USD 318 million |
Debt restructuring by PJSC Bank Finance and Credit owed to the National Bank of Ukraine |
FCLEX represented Bank Finance and Credit |
|
USD 219.8 million |
Debt restructuring of PJSC AutoKrAZ to the State Savings Bank of Ukraine, Prominvestbank, Delta Bank |
FCLEX represented PJSC AutoKrAZ |
|
USD 210 million |
Extension of existing facility agreement between a pool of lenders and Kernel, a major Ukrainian grains and sunflower seeds producer and trader |
Clifford Chance* advised Natixis S.A. |
|
USD 187.5 million |
Restructuring of indebtedness of PJSC Kherson Factory of Cardan Shafts owed to group of lenders, including PJSC Bank Finance and Credit |
FCLEX represented PJSC Kherson Factory of Cardan Shafts |
|
USD 173.1 million |
Debt restructuring by Ukravto Corporation, a leader of Ukrainian automobile market, of debts owed to PJSC Raiffeisen Bank Aval, PJSC Credit Agricole Bank, PJSC ING Bank, PJSC OTP Bank, PJSC Prominvest Bank, PJSC Citi Bank |
Spenser & Kauffmann represented Ukravto Corporation |
|
EUR 100 million |
Restructuring of financing to DTEK Wind Power by Erste Group Bank AG |
Sayenko Kharenko represented Erste Group Bank AG |
Allen & Overy acted as English law counsel to Erste Group Bank AG |
USD 100 million |
Restructuring of subordinated loan of the State Savings Bank of Ukraine (Oschadbank) with conversion of loan into Eurobonds |
Sayenko Kharenko represented PJSC Oschadbank |
White & Case represented Oschadbank |
USD 99.25 million |
Restructuring of secured loan provided to Ukrainian company PJSC TAKO by PJSC Raiffeisen Bank Aval, PJSC First Ukrainian International Bank, PJSC Credit Agricole Bank, PJSC UniCredit Bank, PJSC PrivatBank |
Trusted Advisors represented PJSC TAKO |
|
USD 70 million |
Debt restructuring of USD 46 million financing to Sumy Frunze NPO and USD 30 million to Zaporizhtransformator |
Clifford Chance* advised ING |
|
USD 41.18 million |
Amendment and restatement of EBRD’s loan to Ukrainian State Air Traffic Services Enterprise for the modernisation of the Ukrainian air navigation system |
Clifford Chance* advised EBRD |
|
USD 40 million |
Restructuring of indebtedness of Master Avia LLC, one of the leading aircraft ground handling companies in Ukraine, under the loan facility provided by the subsidiary of Sberbank of Russia |
AEQUO advised Subsidiary Bank of Sberbank of Russia (Ukraine) |
Stelios Americanos acted as Cypriot Law adviser |
USD 36 million |
Restructuring of loan granted by EBRD to Interdon LLC, a Ukrainian subsidiary of a listed company Sadovaya Limited |
AEQUO advised EBRD |
RPC acted as English counsel to EBRD |
EUR 30 million |
Restructuring of a loan facility granted to a major energy equipment producer operating in Ukraine and other European countries by UniCredit Bank (Russian Federation) |
AEQUO advised JSC UniCredit Bank (Russia) |
|
USD 30 million |
Restructuring of secured loan provided to Hlibprom by the IFC |
Gide Loyrette Nouel** represented IFC |
|
USD 30 million |
Debt restructuring by Ukraine International Airlines’ before Finance & Credit Bank |
ECOVIS Bondar & Bondar represented Ukraine International Airlines |
|
USD 30 million |
Restructuring of a secured loan to Nibulon S.A. issued by Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank International) |
Integrites advised Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank International) |
|
USD 25 million |
Restructuring of a loan facility to one of largest Ukrainian grain traders by Banque de Commerce et de Placements |
Integrites advised Banque de Commerce et de Placements |
|
USD 22 million |
Restructuring of debt by Saturn LLC to a group of Chinese creditors under LC by UFW Bank issued to Bank of China |
TCM Group Ukraine advised Saturn LLC |
TCM Group China advised Bank of China |
USD 20 million |
Debt restructuring by Ukraine International Airlines to ZLATOBANK |
ECOVIS Bondar & Bondar represented Ukraine International Airlines |
|
USD 15.9 million |
Amendment and restatement of shopping mall Pyramida Facilities |
Redcliffe Partners advised PJSC Ukrsotsbank |
|
USD 15 million |
Restructuring of debt by a group of CIS landlords to Booking.com |
TCM Group Ukraine advised a group of CIS landlords |
TCM Group Netherlands represented Booking.com |
EUR 12 million |
Security arrangement and amendment of lending terms in respect with financing to a Ukrainian borrower for a construction project, provided by Advising Factor banka d.d., Slovenia |
Wolf Theiss advised Factor banka d.d. |
|
EUR 10 million |
Restructuring of corporate loan to Agrogeneration provided by EBRD |
Gide Loyrette Nouel** represented EBRD |
|
USD 10 million |
Restructuring of syndicated loan from international financial institutions by JSC Rodovid Bank |
Asters represented JSC Rodovid Bank |
|
USD 8.8 million |
Restructuring of a loan granted to a Ukrainian brick producer by EBRD and secured by the borrower’s movable and immovable assets |
Wolf Theiss advised EBRD |
Mayer Brown International LLP acted as English law counsel to EBRD |
USD 5 million |
Restructuring of indebtedness owed by one of the largest Ukrainian producer of electric equipment for railway machines, large-capacity vehicles, municipal passenger electric transport, port facilities, and industrial lifting devices, under the loan provided by Ukrainian subsidiary bank of Sberbank of Russia |
AEQUO advised Subsidiary Bank of Sberbank of Russia (Ukraine) |
Stelios Americanos acted as Cypriot Law adviser |
USD 3.2 million |
Restructuring of debt by Prezence Tech LLC to Agreen LLC |
TCM Group Ukraine advised Prezence Tech LLC |
TCM Group China represented Agreen LLC |
USD 2 million |
Restructuring of debt by Agama Istra LLC to Savy Seafood LLC |
TCM Group Ukraine advised Agama Istra LLC |
TCM Group China advised Savy Seafood LLC |
USD 2 million |
Restructuring of debt by NORD LLC to Chemical Group LLC |
TCM Group Ukraine advised NORD LLC |
TCM Group China represented Chemical Group LLC |
USD 1.7 million |
Restructuring of debt by Kemiagrotreyd LLC to Bank of China |
TCM Group Ukraine advised Kemiagrotreyd LLC |
TCM Group China represented Bank of China |
USD 1.3 million |
Restructuring of debt by Factor LLC to Benhong Garment LLC |
TCM Group Ukraine advised Factor LLC |
TCM Group China represented Benhong Garment LLC |
USD 1.2 million |
Restructuring of debt by KandK Profy LLC to Electrical Appliances LLC |
TCM Group Ukraine advised KandK Profy LLC |
TCM Group China represented Electrical Appliances LLC |
WND |
Restructuring by Ramburs Group of its indebtedness under four loan facilities granted by Sberbank of Russia |
AEQUO advised Ramburs Group |
|
WND |
Intra-group indebtedness restructuring by Porsche Group (debt-to-equity transaction) |
Arzinger acted for Porsche Group; AEQUO advised Porsche Bank AG |
|
WND |
Restructuring of USD multimillion secured mezzanine loan granted to one of the leading Ukrainian manufacturers and distributors of household products by EBRD |
Integrites advised EBRD |
Bird & Bird acted as English legal counsel; Harneys acted as Cyprus legal counsel; Courtenay Coye acted as Belize legal counsel |
WND |
Restructuring of financings earlier provided to Astarta Group by Nederlandse Financierings Mij. voor Ontwikkelingslanden N.V. |
Redcliffe Partners advised Nederlandse Financierings Mij. voor Ontwikkelingslanden N.V. |
|
* Since 1 December 2015 the office operates as independent law firm Redcliffe Partners. ** Since November 2015 the office operates as a French law firm Jeantet. 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 4
Mergers and Acquisitions, Joint Ventures Establishing
| Value | Transactions | Legal Support (Ukrainian Law) | Legal Support (Foreign Law) |
|---|---|---|---|
USD 20 billion* |
Establishment of joint venture between Novartis and GSK in OTC business and exchange of Oncology and Vaccines businesses between GSK and Novartis |
Avellum acted as Ukrainian legal counsel for Novartis; Sayenko Kharenko acted as Ukrainian counsel to GSK on employment matters |
Freshfields Bruckhaus Deringer acted as global counsel to Novartis |
USD 5 billion* |
Demerger of coffee business of Mondelez International with further sale to JV partner. The project involved 12 jurisdictions. |
Clifford Chance** advised Mondelez International; Arzinger represented D.E. Master Blenders 1753 B.V. (DEMB) |
|
EUR 1.5 billion* |
Carve-out of the chemical business of Bayer AG — Bayer Material Science AG into a separate company Covestro AG |
Avellum acted as Ukrainian legal counsel to Bayer AG |
Linklaters Frankfurt am Mein acted as global counsel to transaction |
USD 925 million* (public sources) |
Acquisition of certain divisions of eBay Enterprise from eBay Inc. by Permira, an international private equity fund |
Clifford Chance** advised Permira; EY acted as a Ukrainian legal counsel to eBay Inc. |
Clifford Chance acted as foreign law counsel |
EUR 550 million* |
Acquisition of the insurance business of Gras Savoye by Willis Group |
Clifford Chance** advised Willis Group |
|
USD 280 million |
Acquisition of one of the largest petrol station chains in Ukraine operated under the LUKOIL brand, by AMIC Energy Management GmbH, an independent private equity and corporate finance and strategic advisory firm |
Wolf Theiss advised AMIC Energy Management GmbH |
Akin Gump Strauss Hauer & Feld advised Lukoil on English and Russian law matters |
USD 150 million |
Equity investment by EBRD in Raiffeisen Bank Aval to raise shareholding to 35% |
Clifford Chance** advised EBRD |
Clifford Chance acted as foreign law counsel |
EUR 107 million |
Sale of JSC LIEPĀJAS METALURGS, the largest industrial enterprise in Latvia, to KVV Group, a leading Ukrainian group active in the scrap metal business |
Vasil Kisil & Partners represented JSC Liepajas Metalurgs; AstapovLawyers**** represented KVV Group |
|
EUR 95 million |
Establishment of the joint venture of Mitsubishi Heavy Industries and Siemens — Primetals Technologies, Limited headquartered in the UK, and acquisition a Ukrainian limited liability company which was carved-out from Siemens Ukraine |
Gide Loyrette Nouel*** represented Mitsubishi Heavy Industries |
|
USD 100 million |
Acquisition of SCM Holdings Limited’s 44.96% stake in Euroasia Telecommunications Holding B.V. based in the Netherlands, in which Turkcell previously held stake of 55.04% |
Dentons advised Turkcell Iletisim Hizmetleri |
|
EUR 40 million |
Acquisition of business and assets of Anika group of companies by FrieslandCampina, a group of companies producing nutritional ingredients |
Sayenko Kharenko represented FrieslandCampina; Ilyashev & Partners advised Anika group of companies |
Allen & Overy represented FrieslandCampina |
USD 36 million |
Acquisition by Ukrainian private inverstor of CarPrice, service No.1 in Russia of second-hand cars and in extension of its activity on the territories of Kazahstan, Belarus and Azerbaijan |
AstapovLawyers**** represented CarPrice |
|
USD 12 million |
Acquisition of a grain elevator by OLAM Ukraine through share purchase |
Ilyashev & Partners advised OLAM Ukraine |
|
EUR 10 million |
Acquisition by ACP Europe of the production unit in Ukraine and its further reconstruction |
Gide Loyrette Nouel*** represented ACP Europe |
|
USD 9 million |
Acquisition of non-residential complex in Kiev |
Ilyashev & Partners advised Asset Management Company Industrial Investments |
|
USD 8 million |
Two-tier acquisition of RED.MET LLC, a Ukrainian company engaged in the amber exploration business in the north-west region of Ukraine, by Redcast Holdings Limited |
Wolf Theiss advised Redcast Holdings Limited |
|
UAH 92.1 million |
Acquisition by NCH Capital (USA), one of the leading private equity funds in the US with a presence in Ukraine, of Ukrainian bank PJSC ASTRA BANK from the Deposit Guarantee Fund as a result of bank’s resolution |
AEQUO advised NCH Capital |
|
USD 5 million (public sources) |
Sale by QBE, an Australian based insurance provider, of its 50% Ukrainian subsidiary, QBE Ukraine, to Fairfax Financial Holdings Limited, a Canadian financial holding company |
Wolf Theiss advised QBE; Clifford Chance** represented Fairfax |
Clifford Chance London acted as English law legal counsel |
USD 4 million |
Sale of two agricultural enterprises of OSI Group in Ukraine — LLC Agrosolutions and LLC Agrobeef |
Arzinger represented OSI Group |
|
USD 1.5 million |
Acquistion of Allset — service of booking tables & restaurants in USA by a private investor |
AstapovLawyers**** represented a private investor |
|
USD 1.15 million |
Acquisition by VIG of 20% of the shares in insurance company GLOBUS, which is present on majority of Ukrainian regions |
Wolf Theiss advised VIG |
|
RUB 3.86 million (public sources) |
Sale of Ukrainian subsidiary by Petrocommerce Bank Russia |
Clifford Chance** advised Petrocommerce Bank Russia |
Clifford Chance acted as foreign law counsel |
WND |
Acquisition by George Soros’s Ukrainian Redevelopment Fund of a significant equity stake (held by Horizon Capital and an undisclosed portion of the stake held by Majgaard Holdings Ltd.) in a leading global software engineering and solutions company Ciklum Holding Limited |
AEQUO advised George Soros’s Ukrainian Redevelopment Fund; CMS Cameron McKenna advised Horizon Capital |
CMS Cameron McKenna Kiev acted as English law counsel |
WND |
Acquisition of TRANS-CON LLC, company operating major telecom infrastructure in Kiev city underground, by Mosquito Mobile |
AEQUO advised Mosquito Mobile |
|
WND |
Extension of the strategic partner market agreement between MTS and one of the world’s largest mobile operators Vodafone |
AEQUO advised MTS |
|
WND |
Acquisition by UBG Group from the Deposit Guarantee Fund of a bridge bank incorporated on the basis of the Ukrainian bank PJSC OMEGA BANK in the course of the bank’s resolution |
AEQUO advised UBG Group |
|
WND |
Acquisition by Kontakt East Holding AB (Sweden) of a target Ukrainian company operating in IT and providing social media monitoring for Ukrainian and Russian clients for FMSG sector |
AEQUO advised Kontakt East Holding AB |
|
WND |
Acquisition of Accountor Group, the largest financial and HR services company in Northern Europe, by IK Investment Partners, a European private equity group focused on mid-market investments in the Nordics, DACH region, France and Benelux |
AEQUO advised IK Investment Partners |
|
WND |
Acquisition and financing of the corporate investment fund by TIS Group of Terminals, the Ukraine’s largest dry cargo port, and establishment of the asset management company |
AEQUO advised TIS Group of Terminals |
|
WND |
Acquisition by Europe Virgin Fund L.P. of 50% + 1 share in Venbest Group, the largest private security firm in Ukraine, and establishment of a joint venture with current shareholders of the Group |
Asters represented Europe Virgin Fund L.P.; Arzinger represented Venbest Group |
Christodoulos G. Vassiliades & Co. acted as a English and Cypriot law counsel |
WND |
Purchase of 100 % of the shares in Ukrgazprombank PJSC by Primestar Energy FZE, an international trading company with headquarters in Dubai |
Asters represented Primestar Energy FZE |
|
WND |
Exchange by MHP S.A. of grain growing assets Voronezh Agro in Voronezh region of the Russian Federation for Agrokultura in Lviv, Ternopil and Ivano-Frankivsk regions, Ukraine |
Avellum acted as Ukrainian legal counsel to MHP S.A.; Law Offices of OMP acted as Ukrainian law legal counsel to Agrokultura A.B. |
Eversheds acted as English law legal counsel to Agrokultura A.B.; Freshfields Bruckhaus Deringer acted as English law counsel on Eurobond Indenture issues; Herbert Smith Freehills acted as Russian law counsel |
WND |
Sale of a minority stake in Rozetka, a major Ukrainian online retailer, to Horizon Capital, a leading private equity fund focusing on Ukraine |
Baker & McKenzie represented Rozetka; EY acted as a lead transaction legal counsel to Horizon Capital |
|
WND |
Joint acquisition of 100% of LLC Pharma Start, a top-ten Ukrainian pharmaceutical producer, by Avista Capital Partners and Nordic Capital (acting through Acino as acquisition vehicle) |
Baker & McKenzie represented Avista Capital Partners and Nordic Capital |
|
WND |
Sale of MTBank, the largest private bank in Belarus and one of the fastest growing banks in the country, by Horizon Capital and Zubr Capital to a local investor |
CMS Cameron McKenna advised Horizon Capital and Zubr Capital |
|
WND |
Acquisition of the insolvent bank PJSC Intercreditbank by JS Insurance Company Soyus-Agro-Polis |
ECOVIS Bondar & Bondar represented Joint-Stock Insurance Company Soyus-Agro-Polis |
|
WND |
Acquisition of EVRY ASA by a US private equity investment group Apax Partners LLP |
Egorov Puginsky Afanasiev & Partners Ukraine provided advice to funds advised by Apax Partners LLP |
Clifford Chance (UK), Advokatfirmaet Wiersholm AS advised Apax Partners LLP |
WND |
Sale of the Ukrainian subsidiary of April International |
Gide Loyrette Nouel*** represented April International |
|
WND |
Merger of Unimilk owned by Danone Ukraine, and Danone Dnipro |
Ilyashev & Partners advised Danone |
|
WND |
Acquisition of Maxymizer Limited (a group of IT-companies) by Oracle |
KPMG Ukraine represented Maxymizer Limited; Nobles represented Oracle |
|
WND |
Acquisition of utility company GGE a.s. from Grafobal Group (GGE) by Infracapital Partners II LP |
Sayenko Kharenko represented Infracapital Partners II LP |
Allen & Overy, BDK represented Infracapital Partners II LP; White & Case represented Grafobal Group |
WND |
Sale of shares of PJSC Ukrainian Exchange by PJSC Moscow Exchange MICEX-RTS to a group of international investors |
Sayenko Kharenko represented PJSC Moscow Exchange MICEX-RTS |
|
WND |
Acquisition of a 19.9% stake in Polyus Gold International, Russia’s top gold producer, by Oleg Mkrtchan, Ukrainian businessman |
|
Linklaters advised Oleg Mkrtchan |
WND |
Market exit and the sale by Geveko Industri Holding AB, an international company, involved in road marking business, of its Ukrainian subsidiary Cleanosol Trading Company LLC (CTC) to local management |
Wolf Theiss advised Geveko Industri Holding AB |
|
* Global deal, total value in all jurisdictions. ** Since 1 December 2015 the office operates as independent law firm Redcliffe Partners. *** Since November 2015 the office operates as a French law firm Jeantet. ****In May 2016 AstapovLawyers merged with European Law Firm Baltic Business Group to operate under the new joint brand of Eterna Law. 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 5
Transactions in the Antitrust Area
| Value | Transactions | Legal Support (Ukrainian Law) | Legal Support (Foreign Law) |
|---|---|---|---|
GBP 47 billion |
Merger clearance for acquisition of BG Group plc by Royal Dutch Shell plc |
Sayenko Kharenko represented BG Group plc and Royal Dutch Shell plc |
Slaughter & May acted as international counsel to Royal Dutch Shell plc, Freshfields Bruckhaus Deringer acted as international counsel to BG Group plc |
USD 66 billion |
Merger clearance for acquisition by Actavis plc of control over Allergan, Inc |
Asters represented Actavis plc and Allergan, Inc |
|
USD 32 billion |
Merger clearance for three-part inter-conditional transaction between GlaxoSmithKline plc and Novartis AG involving (i) establishment by GlaxoSmithKline plc and Novartis AG of a consumer healthcare joint venture, (ii) acquisition by GlaxoSmithKline plc of Novartis’ global human vaccines business, (iii) acquisition by Novartis AG of GlaxoSmithKline’s portfolio of oncology pharmaceuticals |
Asters represented GlaxoSmithKline plc; Sayenko Kharenko represented Novartis |
Freshfields Bruckhaus Deringer / Linklaters acted as international counsels to Novartis |
Approx. USD 17 billion |
Merger clearance for acquisition of Sigma-Aldrich Corporation by Merck KGaA |
Sayenko Kharenko represented Sigma-Aldrich Corporation and Merck KGaA |
Skadden, Arps, Slate, Meagher & Flom acted as international counsel to Sigma-Aldrich Corporation and Merck KGaA |
EUR 15.6 billion |
Merger clearance for acquisition by Nokia Corporation of Alcatel-Lucent |
Egorov Puginsky Afanasiev & Partners Ukraine represented Nokia Corporation |
Skadden, Arps, Slate, Meagher & Flom LLP and Roschier acted as international advisors to Nokia; Sullivan & Cromwell LLP acted as international counsel to Alcatel-Lucent |
Approx. EUR 15 billion |
Merger clearance for acquisition by General Electric Company of Alstom’s Thermal & Renewable Power and Grid businesses |
Asters represented Alstom; Clifford Chance* represented General Electric |
|
USD 11 billion |
Merger clearance for merger of PartnerRe Ltd. and AXIS Capital Holdings Limited |
Sayenko Kharenko represented PartnerRe Ltd. and AXIS Capital Holdings Limited |
Davis Polk & Wardwell acted as international counsel to PartnerRe Ltd, Simpson Thacher & Bartlett LLP acted as international counsel to AXIS Capital Holdings Limited |
EUR 7.1 billion |
Merger clearance for acquisition of Pirelli & C. S.p.A. by China National Chemical Corporation |
Sayenko Kharenko represented Pirelli & C. S.p.A. and China National Chemical Corporation |
Freshfields Bruckhaus Deringer acted as international counsel to China National Chemical Corporation |
Approx. USD 6.5 billion |
Merger clearance for the indirect acquisition by Vista Equity Partners of control over Solera Holdings, Inc |
Asters represented Vista Equity Partners and Solera Holdings, Inc |
|
USD 5.81 billion |
Merger clearance for acquisition of German company RWE Dea AG by Letter One Group |
Ilyashev & Partners represented Letter One Group; CLACIS represented RWE |
Skadden, Arps, Slate, Meagher & Flom LLP acted as international counsel to LeterOne; Linklaters acted as international counsel to LetterOne in certain aspects |
USD 5 billion |
Merger clearance for the establishment of joint venture in the field of coffee production between Mondelez International and Acorn Holdings BV, owner of DE Master Blenders 1753 |
Asters represented Mondelez International, DE Master Blenders 1753; Clifford Chance* represented Mondelez International |
|
USD 4.7 billion |
Merger clearance for acquisition by Berkshire Hathaway Inc. of Business for production of Duracell batteries of The Procter & Gamble Company |
Asters represented The Procter & Gamble Company; Sayenko Kharenko represented Berkshire Hathaway Inc |
Allen & Overy acted as international counsel to Berkshire Hathaway Inc |
EUR 3.6 billion |
Merger clearance for acquisition of Omega Pharma Invest NV by Perrigo Company plc |
Sayenko Kharenko represented Omega Pharma Invest NV and Perrigo Company plc |
Freshfields Bruckhaus Deringer acted as international counsel to Perrigo Company plc |
Approx. EUR 3 billion |
Merger clearance for acquisition of Nutreco N.V. by SHV Investments Limited |
Sayenko Kharenko represented Nutreco N.V. and SHV Investments Limited |
Allen & Overy acted as international counsel to Nutreco N.V. and SHV Investments Limited |
USD 3 billion |
Merger clearance for indirect acquisition by Hewlett-Packard Company of control over Aruba Networks, Inc |
Asters represented Hewlett-Packard Company and Aruba Networks, Inc |
|
USD 3 billion |
Merger clearance for acquisition by CommScope Holding Company, Inc. of all of equity interest in certain TE Connectivity LTD subsidiaries as well as acquisition of control over all assets, properties and rights owned relating to the Broadband Network Solutions business |
Asters represented CommScope Holding Company, Inc. and TE Connectivity LTD |
|
USD 2.945 billion |
Merger clearance for acquisition by Apollo Global Management of Verallia, sub-division of Saint Gobain, a leading world glass producer |
AEQUO represented Apollo Global Management |
|
USD 2.9 billion |
Merger clearance for concentration and concerted actions in connection with acquisition by Mars, Incorporated of The Procter & Gamble Company’s business for production of pet food |
Asters represented Mars, Incorporated and The Procter & Gamble Company |
|
USD 2.85 billion |
Merger clearance for acquisition by Alcoa Inc., the largest U.S. aluminum producer, of U.K. aerospace-components maker Firth Rixson Ltd |
CLACIS represented Alcoa Inc and Firth Rixson Ltd |
|
Approx. USD 2.8 billion |
Merger clearance for indirect acquisition by Wendel SA of 100% shares of Constantia Flexibles GmbH |
Asters represented Wendel SA and Constantia Flexibles GmbH |
|
GBP 1.87 billion |
Merger clearance for acquisition by Fairfax Financial of Brit plc |
AEQUO represented Fairfax Financial |
Shearman & Sterling LLP acted as a global competition counsel to Fairfax |
USD 2.3 billion |
Merger clearance for acquisition by Platform Specialty Products Corporation of shares of Alent plc |
Asters represented Platform Specialty Products Corporation and Alent plc |
|
USD 2 billion (public sources) |
Merger clearance for acquisition by the Hearst Corporation of Fitch Group |
Clifford Chance* represented the Hearst Corporation |
|
USD 1.4 billion |
Merger clearance for acquisition of Indesit Company S.p.A. by Whirlpool Corporation |
Sayenko Kharenko represented Indesit Company S.p.A. and Whirlpool Corporation |
Cleary Gottlieb Steen & Hamilton acted as international counsel to Whirlpool Corporation |
USD 1.37 billion |
Merger clearance for acquisition by Kraton Polymers LLC of 100% shares in Arizona Chemical Holdings Corporation |
Asters represented Kraton Polymers LLC and Arizona Chemical Holdings Corporation |
|
USD 1.2 billion |
Merger clearance for acquisition by Mohawk Industries, Inc of the IVC Group |
Avellum represented Mohawk Industries, Inc |
|
USD 1.08 billion |
Merger clearance for acquisition by Fosun of the France-based vacation resort operator Club Mediterranee |
AEQUO represented Fosun (China) |
DLA Piper Hong Kong acted as an international competition counsel to Fosun |
USD 1.07 billion |
Merger clearance for contemplated merger of Chiquita Brands International, an American producer and distributor of bananas and Fyffes plc, to create the world`s biggest banana company |
CLACIS represented Chiquita Brands International and Fyffes plc |
|
USD 1.03 billion |
Merger clearance for acquisition by Apollo Global Management of OM Group (USA), a manufacturer of magnetic technologies |
AEQUO represented Apollo Global Management |
|
USD 925 million |
Merger clearance for acquisition by Sterling of 100% of GSI from eBay, Inc |
Asters represented Sterling Capital Partners IV, L.P. and GSI Commerce, Inc |
|
USD 827 million |
Merger clearance for acquisition by Astorg Partners of 100% of shares of Kerneos |
CLACIS represented Astorg Partners |
|
USD 635 million |
Merger clearance for acquisition by Cisco Systems, Inc of sole control over OpenDNS, Inc |
Asters represented Cisco Systems, Inc and OpenDNS, Inc |
|
EUR 560 million |
Merger clearances for acquisition of VDM Metals companies by Goldberg, Lindsay & Co., LLC |
Sayenko Kharenko represented VDM Metals companies and Goldberg, Lindsay & Co., LLC |
Gleiss Lutz acted as international counsel to VDM Metals companies and Goldberg, Lindsay & Co., LLC |
USD 600 million |
Merger clearance for acquisition by Technicolor S.A. of control over the Cisco Systems, Inc.’s assets related to activity in the field of Internet devices |
Asters represented Technicolor S.A., Cisco Systems, Inc |
|
USD 600 million |
Merger clearance for acquisition by Imerys of business S&B |
Arzinger respresented both parties |
|
Approx. USD 520 million |
Merger clearances for acquisition by IMS Health Incorporated of control over the customer relationship management and strategic data businesses of Cegedim SA |
Asters represented IMS Health Incorporated, Cegedim SA |
|
Approx. USD 452.5 million |
Merger clearance for acquisition by Cisco Systems, Inc of control over Lancope, Inc |
Asters represented Cisco Systems, Inc. and Lancope, Inc |
|
USD 450.1 million |
Merger clearance for acquisition by PZU S.A. of shares in Alior Bank |
Ilyashev & Partners represented PZU |
Weil, Gotshal & Manges LLP (Poland) acted as international counsel to PZU |
EUR 340 million |
Merger clearance for acquisition of Metso’s Process Automation Systems business by Valmet Oyj |
Sayenko Kharenko represented Metso Corporation and Valmet Oyj |
Hannes Snellman acted as international counsel to Valmet Oyj |
USD 365 million |
9 merger clearances for acquisition by Platform Group of part of OM group business |
Arzinger represented both parties |
|
USD 280 million |
Merger clearance for acquisition by AMIC Energy Management GmbH of one of the largest petrol station chains in Ukraine operated under the “LUKOIL” brand |
Wolf Theiss represented AMIC Energy Management GmbH |
Akin Gump Strauss Hauer & Feld acted as international counsel to Lukoil |
USD 272 million |
Merger clearance for acquisition by Amdocs Limited of assets of Comverse, Inc. |
Sayenko Kharenko represented Amdocs Limited and Comverse, Inc; DLA Piper represented Comverse, Inc |
Meitar Liquornik Geva Leshem Tal acted as international counsel to Amdocs Limited |
EUR 240 million |
Merger clearance for acquisition of Dutch joint venture by Archer Daniels Midland Company |
Integrites represented Archer Daniels Midland Company |
Eversheds LLP acted as international counsel to Archer Daniels Midland Company |
Approx. USD 248 million |
Merger clearance for acquisition by Vivendi S.A. of shares of Dailymotion S.A |
Asters represented Vivendi S.A. and Dailymotion S.A. |
|
EUR 200 million |
Merger clearance for acquisition by Perrigo Company plc of assets of GlaxoSmithKline PLC related to certain OTC products of the company |
Asters represented GlaxoSmithKline PLC; Sayenko Kharenko represented Perrigo Company |
Allen & Overy acted as international counsel to Perrigo Company plc |
USD 175 million |
Merger clearance for acquisition by Permira of X.Commerce, Inc |
Clifford Chance* represented Permira |
|
EUR 153 million |
Merger clearance for acquisition of the paper chemical business of Akzo Nobel N.V. by Kemira Oyj |
Egorov Puginsky Afanasiev & Partners Ukraine represented a global chemicals company Kemira Oyj; Sayenko Kharenko represented Akzo Nobel N.V. |
Houthoff Buruma acted as international counsel to Kemira Oyj; De Brauw Blackstone Westbroek acted as international counsel to Akzo Nobel N.V. |
USD 150 million |
Merger clearance for acquisition by KKR & Co. L.P. of joint control over JBF Global Pte. Ltd. |
Asters represented KKR & Co. L.P. and JBF Industries Limited |
|
USD 150 million |
Merger clearance for acquisition of one of the world-famous storage companies by Iron Mountain Inc |
Integrites represented Iron Mountain Inc |
Eversheds LLP acted as international counsel to Iron Mountain Inc |
USD 135 million |
Merger clearance for acquisition by Comverse Inc of Acision |
DLA Piper represented Comverse Inc |
|
Approx. USD 108 million |
Merger clearance for the indirect acquisition by Ferro Corporation of 100% shares of Vetriceramici S.p.A. |
Asters represented Ferro Corporation and Vetriceramici S.p.A. |
|
USD 90 million |
Merger clearance for concentration in connection with the establishment by GE Transportation Engines Holding B.V., JSC Remlokomotiv and LLC Transmashdizel of joint venture — Astana Diesel Engines B.V. |
Asters represented GE Transportation Engines Holding B.V., JSC Remlokomotiv, LLC Transmashdizel |
|
Approx. USD 60 million |
Merger clearance for establishment of joint venture by EBRD and SOUFFLET AGRICULTURE S.A.S. |
Arzinger represented European Bank for Reconstruction and Development; Peterka & Partners represented SOUFFLET AGRICULTURE S.A.S. |
|
Approx. USD 54.6 million |
Merger and antitrust clearances for (i) the concentrations in connection with the acquisition by Knauf Aquapanel GmbH of shares of Knauf/USG Verwaltungs GmbH and Knauf/USG Systems GmbH & Co. KG from USG Ventures-Europe GmbH, and (ii) related arrangements |
Asters represented Knauf Aquapanel GmbH and USG Ventures-Europe GmbH |
|
Approx. USD 32 million |
Merger clearance for the indirect acquisition by Mahindra & Mahindra Ltd. of shares of Holiday Club Resorts Oy and HCR Management Oy |
Asters represented Mahindra & Mahindra Ltd. and Holiday Club Resorts Oy |
|
USD 28.2 million |
Merger clearance for acquisition of Sarten Ambalaj Sanayi ve Ticaret A.Ş. by a leading Japanese trading, investment, and service company |
Sayenko Kharenko represented Sarten Ambalaj Sanayi ve Ticaret A.Ş. and leading Japanese trading, investment, and service company |
Freshfields Bruckhaus Deringer acted as international counsel to leading Japanese trading, investment, and service company |
USD 25 million |
Merger clearance for acquisition by BSH Hausgerate GmbH of FagorMastercook |
Clifford Chance* represented BSH Hausgerate GmbH |
|
USD 25 million |
Merger clearance for acquisition by Mahindra & Mahindra of control over Mitsubishi Agricultural Machinery Co., Ltd. |
Sayenko Kharenko represented Mahindra & Mahindra and Mitsubishi Agricultural Machinery Co., Ltd. |
Mayer Brown acted as international counsel to Mahindra & Mahindra and Mitsubishi Agricultural Machinery Co., Ltd. |
EUR 10 million |
Foreign merger clearance for acquisition of Kem One Innovative Vinyls by OpenGate |
Gide Lourette Nouel** represented OpenGate Capital |
|
EUR 10 million |
Merger clearance for acquisition by Atlantic Gateway of shares of Transportes Aéreos Portugueses, SGPS, S.A. |
Gide Lourette Nouel** represented Transportes Aéreos Portugueses, SGPS, S.A |
|
EUR 10 million |
Merger clearance for acquisition by Ansaldo Energia of Alstom’s advanced gas turbine business |
Jeantet advised Ansaldo Energia |
|
USD 5 million (public sources) |
Merger clearance for acquisition by Fairfax Financial Holdings Limited, a Canadian financial holding company (Fairfax), of the Ukrainian subsidiary of the QBE Insurance Group |
Wolf Theiss represented QBE; Clifford Chance* represented Fairfax Financial Holding |
Clifford Chance London acted as English law legal counsel |
Approx. USD 4 million |
Merger clearance for acquisition of two agribusiness companies in Ukraine of OSI Group (Agrosolutions LLC and Agrobif LLC) by its former local management as well as a private German investor |
Arzinger represented both parties |
|
UAH 92.1 million |
Merger clearance for acquisition by NCH Capital (USA) of an insolvent Ukrainian bank from the Deposit Guarantee Fund |
AEQUO represented NCH Capital |
|
WND |
Merger clearance for acquisition by George Soros’s Ukrainian Redevelopment Fund of a significant equity stake in Ciklum Holding Limited |
AEQUO represented George Soros’s Ukrainian Redevelopment Fund; CMS Cameron McKenna represented Horizon Capital |
|
WND |
Merger clearance for the establishment of the joint venture between Sidel (France) and Amcor (Australia) |
AEQUO represented Tetra Laval |
|
WND |
Merger clearance for acquisition by Brit Limited of a stake in Ambridge Partners LLC |
AEQUO represented Brit Limited |
|
WND |
Merger clearance in a joint acquisition by Avista Capital Partners and Nordic Capital (acting through Acino as acquisition vehicle) of 100% in LLC Pharma Start |
Baker & McKenzie represented Avista Capital Partners and Nordic Capital; DLA Piper represented shareholders of Pharma Start |
|
WND |
2 merger control filings in connection with direct acquisition by Unilever U.K. Holdings Limited of REN Limited and REN USA Inc. engaged in developing, manufacturing, selling, and supplying premium skincare products and toiletries under the REN brand |
Baker & McKenzie represented Unilever U.K. Holdings Limited |
Addleshaw Goddard LLP advised sellers of REN |
WND |
Merger clearance for acquisition by Unilever N.V., a company of the Unilever group, of P&G’s CAMAY and ZEST personal cleansing business |
Baker & McKenzie represented Unilever N.V.; Asters represented The Procter & Gamble Company |
|
WND |
Merger clearance for acquisition by Rozetka group of LLC OTK Europlus and sale of a minority stake to a leading private equity fund focusing on Ukraine |
Baker & McKenzie represented Rozetka UA; EY Legal represented the investor (Horizon Capital) |
|
WND |
Merger clearance for acquisition by McCormick & Company, Incorporated of Drogheria e Alimentari S.p.A., an Italian joint stock corporation active in the business of production and commercialization of cake decorations, spices, herbs and dry seasonings |
Baker & McKenzie represented McCormick & Company |
|
WND |
2 merger control filings in connection with acquisition by Archer Daniels Midland (UK) Limited, a company of the ADM Group, of AOR NV and AOR Plastics NV |
Baker & McKenzie represented Archer Daniels Midland (UK) Limited |
|
WND |
Merger control filing in connection with acquisition by Saudi agricultural and Livestock Investment Co. (Saudi Arabia’s governmental agricultural corporation) and Bunge of controlling stake in Canadian Wheat Board (CWB) through G3, a joint venture of SALIC and Bunge in Canada |
Baker & McKenzie represented Saudi agricultural and Livestock Investment Co. (Saudi Arabia’s governmental agricultural corporation) and Bunge |
Shearman & Sterling acted as international counsel to Bunge Group |
WND |
Merger clearance for acquisition by OTP banka Srbija a.d. Novi Sad, a Serbian subsidiary of Hungarian OTP Bank Plc., of Findomestic Banka a.d. Beograd (Novi Beograd), a Serbian subsidiary of French BNP Paribas |
Baker & McKenzie represented OTP Bank Nyrt.; Dentons represented Findomestic Banka a.d. Beograd (Novi Beograd) |
|
WND |
Merger clearance for the indirect acquisition (as part of a global transaction) by Emeram Capital Partners GmbH of 100% shareholding in Ukrainian company involved in the provision of IT services |
Wolf Theiss represented Emeram Capital Partners GmbH |
|
WND |
Merger cleararnce for the establishment of joint venture between UIA and KLM Royal Dutch Airlines |
ECOVIS Bondar & Bondar represented Ukraine International Airlines |
|
WND |
Merger clearance for acquisition of EU construction materials manufacturer by Soudal Holding NV |
KPMG Ukraine represented Soudal Holding NV |
|
WND |
Merger clearance for establishment by Aventis Inc. (subsidiary of Sanofi SA) and Google Life Sciences LLC of joint venture company |
Asters represented Aventis Inc. and Google Life Sciences LLC |
|
WND |
Merger clearance for the indirect acquisition by Investindustrial of controlling stake in B&B Italia S.p.A. |
Asters represented Investindustrial and B&B Italia S.p.A. |
|
WND |
Merger clearance for the indirect acquisition by KKR & Co. L.P. of controlling stake in Ursa Insulation Holding B.V. |
Asters represented KKR & Co. L.P. and Uralita S.A. |
|
WND |
Merger clearance for acquisition by Coty, Inc. of the share capital of certain companies in the field of cosmetics, operating under the brand Bourjois |
Asters represented Coty, Inc. and Bourjois |
|
WND |
Merger clearance for acquisition by Cisco Systems, Inc. of control over MetaCloud LLC |
Asters represented Cisco Systems, Inc. and MetaCloud LLC |
|
WND |
Merger clearance for acquisition by Mastice SpA of share in the corporate capital of Sematic S.p.A. |
Asters represented Mastice S.p.A. and SAPA S.p.A. |
|
WND |
Merger clearance for acquisition by Cisco Systems, Inc. of control over One Mainstream, Inc |
Asters represented Cisco Systems, Inc. and One Mainstream, Inc |
|
WND |
Merger clearance for acquisition by ZWILLING J.A. Henckels Aktiengesellschaft of shares in Ballarini Paolo & Figli S.p.A. |
Asters represented ZWILLING J.A. Henckels Aktiengesellschaft and Ballarini Paolo & Figli S.p.A. |
|
WND |
Merger clearance for acquisition by Cisco Systems, Inc. of sole control over Tropo, Inc |
Asters represented Cisco Systems, Inc. and Tropo, Inc |
|
WND |
Merger clearance for acquisition by Investindustrial Industries S.A. of shares of Sergio Rossi S.p.A. |
Asters represented Investindustrial Industries S.A. and Sergio Rossi S.p.A. |
|
WND |
Merger clearance for the concentrations in connection with the indirect acquisition by ÅR Packaging Group AB of shares of certain companies controlled by MeadWestvaco Corporation, as well as control over the assets in the field of folding carton packaging for tobacco, chocolate products and clothing |
Asters represented ÅR Packaging Group AB and MeadWestvaco Corporation |
|
WND |
Merger clearance for acquisition by MAN Diesel & Turbo SE of 100% shares of Max Watt Turbines Private Limited |
Asters represented MAN Diesel & Turbo SE and Max Watt Turbines Private Limited |
|
WND |
Merger clearance for the establishment of joint venture by Evonik Degussa GmbH and AkzoNobel N.V. |
Asters represented Evonik Degussa GmbH; Sayenko Kharenko represented AkzoNobel N.V. |
Stibbe acted as international counsel to AkzoNobel N.V. |
WND |
Merger clearance for acquisition by Primestar Energy FZE of 100% of shares in PJSC Ukrgazprombank |
Asters represented Primestar Energy FZE and PJSC Ukrgazprombank |
|
WND |
Merger clearance for acquisition by SNAI S.p.A. of shares in Cogemat S.p.A. |
Asters represented SNAI S.p.A. and Cogemat S.p.A. |
|
WND |
Merger clearance for concentration in connection with the establishment by Siemens Aktiengesellschaft and JSC Termotron-Plant of the joint venture Rail Automation Holding B.V. |
Asters represented Siemens Aktiengesellschaft and JSC Termotron-Plant |
|
WND |
Merger clearance for acquisition by CNBM INTERNATIONAL ENERGY PTE LTD Inc. of shares in the capital stock of certain Ukrainian companies engaged in power generation |
Asters represented CNBM INTERNATIONAL ENERGY PTE LTD Inc. |
|
WND |
Merger clearance for acquisition by the European Bank for Reconstruction and Development of shares in PJSC Ukrsibbank |
Asters represented the European Bank for Reconstruction and Development |
|
WND |
Merger clearance for the concentrations and concerted actions in connection with acquisition by Denka Elastomers LLC of assets of E. I. du Pont de Nemours and Company in the field of production and sale of chloroprene rubber |
Asters represented Denki Kagaku Kogyo Kabushiki Kaisha and E. I. du Pont de Nemours and Company |
|
WND |
Merger clearance for acquisition by Vestel of Sharp’s assets in the field of sales of products under the Sharp brand |
Asters represented Vestel Ticaret A.Ş and Sharp |
|
WND |
Merger clearance for acquisition by Fater of P&G’s assets, including assets for the production and sale of hard-surface cleaners under the Comet brand |
Asters represented Fater SpA and P&G |
|
WND |
Merger clearance for acquisition by Ansaldo Energia S.p.A. of parts of heavy duty gas turbine business that General Electric Company previously acquired from ALSTOM |
Asters represented General Electic Company |
|
WND |
Merger clearance for acquisition by Nissan Motor Co., LTD of more than 50% shares of D47aktsy Nissan Otomotiv A.Ş. from Sumitomo Group |
Asters represented Nissan Motor Co., LTD and Nissan Otomotiv A.Ş. |
|
WND |
Merger clearance for acquisition by Marubeni Aviation of the shareholding in Aircastle Limited |
Clifford Chance* represented Marubeni Aviation |
|
WND |
Merger clearance for acquisition by Celtic BidCo of Alvogen Lux Holdings |
Clifford Chance* represented Celtic BidCo |
|
WND |
Merger clearance for acquisition by Nikkei Inc. of the Financial Times from Pearson Plc |
Sayenko Kharenko represented Nikkei Inc. and Pearson Plc |
Skadden, Arps, Slate, Meagher & Flom acted as international counsel to Nikkei Inc., Freshfields Bruckhaus Deringer acted as international counsel to Pearson Plc |
WND |
Merger clearance for acquisition of Samsung General Chemicals Co Ltd and Samsung Techwin Co Ltd by Hanwha Corporation |
Sayenko Kharenko represented Samsung General Chemicals Co Ltd, Samsung Techwin Co Ltd and Hanwha Corporation |
Lee & Ko acted as international counsel to Samsung General Chemicals Co Ltd, Samsung Techwin Co Ltd and Hanwha Corporatione |
WND |
Merger clearance for acquisition of Pantos Logistics Co., Ltd by LG International Corp. |
Sayenko Kharenko represented Pantos Logistics Co., Ltd and LG International Corporation |
Lee & Ko acted as international counsel to Pantos Logistics Co., Ltd and LG International Corporation |
WND |
Merger clearance for acquisition of Hamlet Protein A/S by Altor Fund IV Holding AB and Goldman Sachs Group, Inc |
Sayenko Kharenko represented Hamlet Protein A/S, Altor Fund IV Holding AB and Goldman Sachs Group, Inc |
Kromann Reumert acted as international counsel to Hamlet Protein A/S, Vinge acted as international counsel to Altor Fund IV Holding AB and Sullivan & Cromwell acted as international counsel to Goldman Sachs Group, Inc |
WND |
Merger clearance for acquisition by Imerys SA of Solvay’s precipitated calcium carbonate business |
Sayenko Kharenko represented Imerys SA and Solvay |
|
WND |
Merger clearance for acquisition of Elysian Brewing Company, Inc. by Anheuser-Busch InBev S.A./N.V. |
Sayenko Kharenko represented Elysian Brewing Company, Inc and Anheuser-Busch InBev S.A./N.V. |
|
WND |
Merger clearance for acquisition of Pivovar Samson a.s. by Anheuser-Busch InBev S.A./N.V. |
Sayenko Kharenko represented Pivovar Samson a.s. and Anheuser-Busch InBev S.A./N.V |
Freshfields Bruckhaus Deringer acted as international counsel to Pivovar Samson a.s. and Anheuser-Busch InBev S.A./N.V. |
WND |
Merger clearance for acquisition by ASK Chemicals GmbH of Hexion Inc’s assets related to the developing, manufacturing and the direct or indirect sale of foundry products |
Sayenko Kharenko represented ASK Chemicals GmbH and Hexion Inc; NOBLES represented Hexion Inc |
White & Case acted as international counsel to ASK Chemicals GmbH |
WND |
Merger clearance for acquisition of INEOS’ chlorvinyls business by INTERNATIONAL CHEMICAL INVESTORS S.E. |
Sayenko Kharenko represented INEOS and INTERNATIONAL CHEMICAL INVESTORS S.E. |
Slaughter & May acted as international counsel to INEOS and Shearman & Sterling acted as international counsel to INTERNATIONAL CHEMICAL INVESTORS S.E. |
WND |
Merger clearances for establishment of joint venture by Albemarle and Israel Chemicals Limited |
Sayenko Kharenko represented Albemarle and Israel Chemicals Limited |
Mayer Brown acted as international counsel to Albemarle and Dechert acted as international counsel to Israel Chemicals Limited |
WND |
Merger clearance for merger of Net-а-Porter, subsidiary of Richemont Holdings Limited, and YOOX |
Sayenko Kharenko represented COMPAGNIE FINANCIERE RICHEMONT SA and YOOX |
Slaughter & May acted as international counsel to COMPAGNIE FINANCIERE RICHEMONT SA, Gatti Pavesi Bianchi Studio Legale Associato acted as international counsel to YOOX |
WND |
Merger clearance for acquisition of Sal Vesta Iberia, S.L. by AkzoNobel N.V. and Israel Chemicals Limited |
Sayenko Kharenko represented AkzoNobel N.V. and Israel Chemicals Limited |
|
WND |
Merger clearance for the establishment of joint venture by Ferrostaal GmbH and Haldor Topsøe A/S |
Sayenko Kharenko represented Ferrostaal GmbH and Haldor Topsøe A/S. |
Corinius acted as international counsel to Ferrostaal GmbH and Kromann Reumert acted as international counsel to Haldor Topsøe A/S |
WND |
Merger clearance for acquisition of Wheaton Holding Corp. by Duran Group Holding GmbH |
Sayenko Kharenko represented Wheaton Holding Corp. and Duran Group Holding GmbH |
Freshfields Bruckhaus Deringer acted as international counsel to Wheaton Holding Corp. and Duran Group Holding GmbH |
WND |
Merger clearance for acquisition of Duran Group Holding GmbH by One Equity Partners |
Sayenko Kharenko represented Duran Group Holding GmbH and One Equity Partners |
Freshfields Bruckhaus Deringer acted as international counsel to Duran Group Holding GmbH and One Equity Partners |
WND |
Merger clearance for acquisition of NordGlass sp. z o.o. by AGC Glass Europe SA |
Sayenko Kharenko represented NordGlass sp. z o.o. and AGC Glass Europe SA |
Allen & Overy acted as international counsel to NordGlass sp. z o.o. and AGC Glass Europe SA |
WND |
Merger clearance for acquisition by Solvay S.A. of Cytec Industries, Inc |
Sayenko Kharenko represented Solvay S.A. and Cytec Industries, Inc |
Freshfields Bruckhaus Deringer acted as international counsel to Solvay S.A. and Cytec Industries, Inc |
WND |
Merger clearance for acquisition by GS Yuasa International Ltd. of Inci Aku San. ve Tic. A.S. |
Sayenko Kharenko represented GS Yuasa International Ltd. and Inci Aku San. ve Tic. A.S. |
Hogan Lovells acted as international counsel to GS Yuasa International Ltd. and Inci Aku San. ve Tic. A.S. |
WND |
Merger clearance for the establishment by and between ArcelorMittal Group and CLN Group of the joint venture named ArcelorMittal GLN Distribuzione Italia |
CLACIS represented ArcelorMittal and CLN Group |
|
WND |
Merger clearance for acquisition of Condesa Group, European producer of welded pipes and tubes by ArcelorMittal and a syndicate of Banks |
CLACIS represented ArcelorMittal Group and Condesa Group |
|
WND |
Merger clearance for acquisition by PJSC MHP of Dnister Agro (agricultural assets) |
CLACIS represented MHP and Dnister Agro |
|
WND |
Merger clearance for acquisition by Quintiles Transnational Corp of 100% a US-based company, Theorem Clinical Research Holdings Inc, which has a subsidiary in Ukraine (Theorem Clinical Research Ukraine LLC) |
CLACIS represented Quintiles Transnational Corp |
Jones Day acted as transaction counsel |
WND |
Merger clearance for acquisition of KWW Kotkowski Wierzbicki Węgrzyn sp.j. by Farmak |
Integrites represented Farmak |
|
WND |
Merger clearance for acquisition of one of the companies of Nova Poshta Group by private individuals |
Integrites represented Nova Poshta |
|
WND |
Merger clearance for acquisition through Palmyra Sp. z o.o., via the tender offer of up to 100% in Ferro S.A. by IK Investment Partners |
Dentons represented IK Investment Partners |
|
WND |
Merger clearance for acquisition by Wielton SA of shares in Fruehauf, France’s leading trailer brand |
Dentons represented Wielton SA |
|
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. * Since 1 December 2015 the office operates as independent law firm Redcliffe Partners. ** Since November 2015 the office operates as a French law firm Jeantet.
