Mykola Stetsenko, managing partner, AVELLUM Foreign investors often have misperceptions about doing business in Ukraine. Below, I debunk the 5 most common myths, as well as 3 more that reflect the mot recent improvements in the business climate.
AVELLUM acted as the legal counsel to Investment Capital Ukraine (“ICU”) on the sale of the remaining stake in alternative energy projects with total capacity over 200 MW to VR Capital Group (“VR”). The transaction covered the following solar power plants jointly developed by ICU and VR:
AVELLUM acted as the legal counsel to sellers on the sale of Smart Plaza Obolon, a newly constructed shopping and entertainment center in Kyiv. URE Holding Limited, a company from Dragon Capital Group, acquired the properties.
AVELLUM acted as the Ukrainian legal counsel to the joint lead managers, Citigroup Global Markets Limited and Deutsche Bank AG, London Branch, with respect to EUR600 million and USD335 million Eurobond offering of Naftogaz of Ukraine.
AVELLUM acted as the Ukrainian legal counsel to Cornerstone Partners, a co-owner of IT Kontrakt, a Polish IT Company, on the acquisition of CoreValue, a US-headquartered IT service provider with Ukrainian roots.
AVELLUM secured a favourable award to the client in a dispute at the GAFTA arbitration for a total amount of more than EUR1.5 million.
AVELLUM acted as the Ukrainian legal counsel to GROUPE ATLANTIC, a leading French HVAC company, on the acquisition of SST Group’s electric underfloor heating and water leakage control systems business.
AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine on another milestone Eurobond deal. The issue by Ukraine of EUR1 billion notes with a 7-year tenor marks the first euro-denominated offering Ukraine has made in almost 15 years.
AVELLUM acted as the legal counsel to SM Invest Construction B.V., a solar PV plants developer, on the sale of shares in the holding company, which owns the underlying assets to develop a 148MW solar power plant in Mykolaiv region. Scatec Solar, a leading and globally acting solar energy producer, acted as the purchaser.
AVELLUM acted as the Ukrainian legal counsel to the European Bank for Reconstruction and Development (“EBRD”) in connection with a long term senior secured loan to Limited Liability Company “Zunami” (“Zunami”) in the total amount of up to EUR3 million.