Avellum has acted as Ukrainian legal counsel to the EBRD and Nederlandse Financierings – Maatschappij voor Ontwikkelingslanden N.V. in connection to a EUR 24.5 million senior secured loan granted to LLC Chysta Enerhiia-2011, with 50% from each. Integrites reportedly advised Chysta Enerhiia-2011 on the deal.
"You know that there are quite a lot of things happening in Ukraine now,” says Vadim Medvedev, Partner at Avellum in Kyiv, who begins by talking about the recent election in April of Volodymyr Zelensky to the Ukrainian Presidency. “Everyone is looking forward to the inauguration to see what changes in policies may follow, Medvedev says, while pointing out that, although Zelensky has asked for May 19, the specific date has not been scheduled yet. He explains that outgoing President Petro Poroshenko was considered to be a “'business-as-usual' candidate,” but the business community is uncertain about Zelensky’s plans, “as there are a lot of gray areas and open issues with respect to his policies and programs — it’s simply unclear.”
Sayenko Kharenko has advised VR Capital on the acquisition of 50% of shares in Nicken Holdings LTD from Investment Capital Ukraine. Avellum reportedly provided transactional support to Investment Capital Ukraine on the sale.
Avellum acted as the Ukrainian legal counsel to the EBRD in connection with a senior secured loan of up to EUR 2.6 million to Negabarit-Service LLC, a Ukrainian company specializing in oversized and complex auto cargo transportation.
Avellum acted as Ukrainian legal counsel and White & Case provided English-law advice to the Ministry of Finance of Ukraine in connection with two syndicated EUR-denominated facilities arranged by Deutsche Bank in December 2018 and March 2019 for a total amount equivalent to approximately USD 1 billion. Sayenko Kharenko and Clifford Chance reportedly advised Deutsche Bank. Reed Smith reportedly was English law counsel to the facility agent, TMF Global Services Limited.
Avellum has advised SM Invest Construction B.V. on the sale of shares in the holding company that is developing a 120MW solar power plant in the Mykolaiv region of Ukraine. The buyer, solar energy producer Scatec Solar, was reportedly advised by CMS.
Avellum has advised Kernel Holding S.A. on the acquisition of 100% of shares in Rail Transit Kargo Ukraine. Based on the enterprise value, the deal is worth USD 64 million.
Avellum has acted as legal counsel on the merger of PJSC MTB Bank and PJSC Commercial Bank Center.
If one is an example, two is a coincidence, and three is a trend, the three major law firm mergers in Ukraine this past summer demand closer scrutiny.
On July 9, 2018, the CEE Legal Matters website reported the merger of the Avellum and A.G.A. Partners law firms in Ukraine. A month later, the website reported on a second merger, this time between Asters and EPAP, the Ukrainian office of Russia’s Egorov Puginsky Afanasiev & Partners. And in September the website reported on yet another merger, between Integrites and Pravochyn. To explore these significant changes in the market, on October 26, 2018, CEE Legal Matters sat down with a collection of prominent Ukrainian lawyers — including several from firms directly involved in the summer’s mergers — at the Kyiv office of DLA Piper.