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Baker & McKenzie Advises Alfa Group on Acquisition of Bank of Cyprus's Ukrainian Assets

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In a follow-up to a story reported by CEE Legal Matters on April 23, Baker & McKenzie announced that it advised the Alfa group on its EUR 202.5 million acquisition of the Ukrainian assets of the Bank of Cyprus, including its Ukrainian subsidiary (PJSC Bank of Cyprus), its Ukrainian loan portfolio, and certain loans of the former Laiki Bank (Cyprus).  

Alfa Bank is a Ukrainian universal commercial bank headquartered in Kiev. According to the official National Bank of Ukraine statistics, as of January 1, 2014, the Bank of Cyprus was the 67th largest bank in Ukraine in terms of total assets among the 180 commercial banks registered in the country. The bank had 42 branches, which provided services to retail and corporate customers, with 71 percent of the loan portfolio consisting of corporate customers.

Baker & McKenzie Partner Olyana Gordiyenko was pleased with the deal: "We are proud to be part of the client's biggest acquisition in Ukraine so far and we are glad that the deal has been a good bargain for the client. The complex nature of this acquisition demanded sophisticated structuring with differing documentation and process required for different parts of the transaction."  

The Baker & McKenzie team also included Zoryana Matviychuk and other aAssociates from the Kiev office, Partners James Richards and Simon Morgan from Moscow, and Senior Associate Ron Kirschner in London.

 

 

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AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com

 

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