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AVELLUM advised EVO Group on its merger with Rozetka

January 2019 - Corporate & Commercial. Legal Developments by Avellum.

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AVELLUM acted as the legal counsel to EVO Group, the internet company behind Ukraine’s leading marketplace Prom.ua, in connection with its merger with Rozetka, the leading online retailer based in Ukraine.

We provided legal support to EVO Group in negotiating and signing the transactional documents, as well as in the completion of the transaction. Moreover, AVELLUM advised the client on obtaining a merger control clearance of the Antimonopoly Committee of Ukraine.

Mykola Stetsenko, co-managing partner of AVELLUM, commented on the transaction: “This landmark merger appears to be one of the biggest in the Ukrainian e-commerce segment and creates a flagship online marketplace in Ukraine. We are proud to contribute by helping to establish the Ukrainian e-commerce champion.”

The combined Rozetka-EVO platform has 2 billion site visits and facilitates 30 million e-commerce transactions per year in four countries. Rozetka and Prom are consistently ranked among the top 10 most-visited websites in Ukraine, reaching over 40% of Ukraine’s internet audience.

Ukraine’s e-commerce segment, growing at 26% compound annual growth rate in dollar terms for the past 3 years, is poised for further growth, with online accounting for circa 7% share of total retail in 2018 vs 15-20% share in mature markets. Their merger enables the united platform to expand its product offering, rapidly introduce innovative products and services, and provide local SMEs with a superior internet marketplace experience in selling their goods and services online to local consumers.

The AVELLUM team was led by co-managing partner Mykola Stetsenko with support from associates Yaroslav Medvediev, Dmytro Symbiryov, and Anton Arkhypov.