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Eterna Law

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Almaty, Kiev, Moscow

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AstapovLawyers advised the EBRD becoming a shareholder of Insurance Company Universalna

November 2011

AstapovLawyers International Law Group provided its legal advice to the European Bank for Reconstruction and Development (EBRD) becoming a shareholder of PJSC Insurance Company Universalna.

AstapovLawyers dealt with all the key points of the transaction, including due diligence, drafting documents and obtaining acquisition approval from the Antimonopoly Committee of Ukraine. Finally, our company’s legal support led the EBRD to execution of an investment agreement that would inject UAH 85 million of capital into Universalna. The English Counsel for the EBRD in the course of the transaction was the well-known law firm White & Case.

“This transaction has appeared to be extremely interesting in terms of structuring as the deal is rather specific for the insurance market. AstapovLawyers’ associates and counsel have managed to effect the transaction successfully and timely due to their well-coordinated teamwork,” commented Oleh Malskyy, Partner and Head of M&A Practice at AstapovLawyers.

It should be noted that Universalna is one of the top companies operating in Ukraine’s insurance market and providing a wide range of risk insurance services to corporations and individuals through its extensive network of branches and points of sale.

It is also important that the EBRD’s interest of 23% makes it the owner of the second largest shareholding in Universalna.

The EBRD is an international financial institution that supports projects in 29 countries from central Europe to central Asia. Investing primarily in private sector clients whose needs cannot be fully met by the market, the Bank promotes entrepreneurship and fosters transition towards open and democratic market economies.
AstapovLawyers advised the EBRD becoming a shareholder of Insurance Company Universalna


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