Asters has advised the EBRD in connection with its up to USD 3.86 million financing to Energoresurs-Invest Corporation, a provider of insulated steel pipe solutions and manufacturer of wastewater plastic pipes and drainage systems.
On 2 August 2017 the state aid regime, based on the requirements of the EU-Ukraine Association Agreement (the "Association Agreement"), fully entered into force in Ukraine. Before this there were no state aid rules in place, and state support was distributed by the Ukrainian authorities as was deemed appropriate according to fast-changing industrial and regional policy objectives. The Ukrainian government has, traditionally, heavily supported producers in a number of so-called "priority" industries such as steel, fuel and energy, coal mining, aircraft manufacturing and shipbuilding. In the energy sector alone, total budget revenue relinquished under special tax benefits allowed to undertakings accounted for up to 3.5% of GDP annually. The introduction of state aid control is expected to bring more transparency and higher standards in the management of public spending. In particular, all existing state aid programmes implemented before 2 August 2017 should be notified to the Antimonopoly Committee of Ukraine (the "AMC") until 2 August 2018, and all new state aid may be granted only following the prior approval of the AMC.
According to experts, Ukraine ranks fourth in the world in export of IT-products; i.e., software. It is not a rare phenomenon for Western counter-parties buying software to encounter a low level of pre-sale clearance. In other words, the Ukrainian sellers are not always able to confirm their title rights to the software they dispose of, potentially exposing foreign buyers to the risk of IP-related claims of third parties.
Aequo has advised Dragon Capital Investment Limited, a private equity investor in Ukraine and member of the Dragon Capital group of companies, on its acquisition of the 17,000 square meter Eco Tower business center in Zaporizhzhya, Ukraine, from Austria's Conwert Group. The sellers were reportedly represented by CMS Reich-Rohrwig Hainz.
On May 7, 2018, CEE Legal Matters reported that DTEK Renewables is developing the Nikopol solar power plant project in Ukraine, which will be the most powerful in the country. We reached out to Ivan Lyakh, General Counsel for DTEK Renewables, for comment.