Firm Profile > Avellum > Kiev , Ukraine
38 VOLODYMYRSKA STREET
Avellum > The Legal 500 Rankings
Widely regarded as a market leader in banking and finance, Avellum has a vastly experienced senior partner in Glib Bondar. He assisted Ukraine's Ministry of Finance with its $3bn eurobond issue, and advised Metinvest on refinancing $2.3bn-worth of debt. Taras Dmukhovskyy moved to an in-house position.
Avellum 'has unique experience and the best knowledge, so usually finds the best proposition for the client'. Mykola Stetsenko and Yuriy Nechayev, who are 'very hardworking and professional', are leading lights in the market. Senior associate Andriy Romanchuk is also noted. The team acted for Horizon Capital on the sale of its stake in Ergopack Group.
Competition Tier 1
Avellum has a strong track record in landmark transactions for Ukrainian and multinational companies. Mykola Stetsenko, Yuriy Nechayev and rising star senior associate Yaroslav Medvediev are the key practitioners. For Karavan Group, the firm obtained merger clearance for the acquisition of Karavan Hypermarket chain by Auchan Group.
Employment Tier 1
Avellum is 'very professional, diligent and capable of adapting to clients' needs'. Mykola Stetsenko leads the practice, which handles cross-border corporate transactions and litigation. Among his clients is US machinery manufacturer Deere & Company. The 'approachable and responsive' Yuriy Nechayev is also noted.
Private client Tier 1
Avellum provides 'a responsive, professional and knowledgeable service'. A leading firm for family law, it also handles the full range of private client services. Family lawyers Aminat Suleymanova and Iryna Moroz have 'great client skills and specialist legal knowledge'. Mykola Stetsenko, counsel Vadim Medvedev and associate Oleksandr Gubin are highly regarded.
Real estate and construction Tier 1
Avellum is 'a leading firm - very deal oriented, with detailed knowledge'. Mykola Stetsenko is the key partner. Counsel Maksym Maksymenko and Yuriy Nechayev handled the real estate aspects of a solar power plant project for ICU. Yuriy Zaremba, formerly of counsel with the firm, is now CEO at AxDraft.
Tax Tier 1
At Avellum, practice head Mykola Stetsenko and newly promoted specialist tax partner Vadim Medvedev are 'true stars able to handle all Ukrainian and international matters'. Clients include Metinvest and Ukrzaliznytsia.
Dispute resolution Tier 2
Avellum climbs the ranking having further developed its practice since the 2017 merger with Aga Partners. The practice is known for 'excellent organisation, high-quality advice and a scrupulous approach to clients' needs'. Head of litigation Aminat Suleymanova and 'impressive' partner Ivan Kasynyuk are recommended. Clients include Syngenta and Ukrlandfarming.
Energy Tier 2
Avellum handles the development, acquisition, disposal and financing of energy projects for financial investors and energy companies. Glib Bondar advised Ukraine's Ministry of Finance on a $250m loan to nuclear power operator Energoatom. EBRD and Metinvest are among the firm's other clients.
Avellum > Firm Profile
AVELLUM is a leading Ukrainian full service law firm with a key focus on finance, corporate, dispute resolution, tax, real estate, and antitrust. Its aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions. The firm builds lasting relationships with its clients and makes them feel secure in new uncertain economic and legal realities. By using the firm’s first-hand knowledge, broad industry experience and unparalleled level of service, it delivers the best results to its clients in their business endeavours. The firm’s partners take an active role in every transaction and ensure smooth teamwork. AVELLUM seamlessly cooperates with leading international law firms in course of multijurisdictional transactions.
Effective 9 July 2018, AVELLUM and A.G.A. Partners announced their strategic combination. The new firm operates under AVELLUM brand.
Recent Work Highlights
- Advised the Ministry of Finance of Ukraine on the stateguaranteed USD250 mln loan to SE ‘NNEGC ‘Energoatom’;
- Advised the Ministry of Finance of Ukraine on the financing for the purchase of more than 25 Airbus helicopters for four strategic services of Ukraine: the National Guard of Ukraine, the State Border Guard Service of Ukraine, the State Emergency Service of Ukraine and the National Police of Ukraine;
- Advised the Ministry of Finance of Ukraine on the EUR 349.3 mln term loan facility arranged by Deutsche Bank and backed by an International Bank for Reconstruction and Development (IBRD) policy-based guarantee.
- Advised the Ministry of Finance of Ukraine on its USD3 bln issue of 7.375% Eurobonds due 2032, which involved tender offer of existing Eurobonds, and on the private placement of USD725 mln short-term external sovereign bonds 2019;
- Advised MHP SE on the benchmark USD550 mln, 8 year, 6.95% Eurobond issue coupled with the cash tender offer for MHP’s USD495.6 mln aggregate principal amount;
- Advised joint lead managers on UAH4.051 bln Eurobond offering by JSC ‘Ukreximbank’, 16.5% loan participation notes due in 2021.
- Advised EVO Group, the Ukrainian e-commerce market leader, on its merger with Rozetka, the leading online retailer and marketplace based in Ukraine;
- Advised PJSC ‘Ukrainian Railway’ on its long-term USD1 bln collaboration with General Electric Company, aimed at renewal and modernisation of the locomotive park;
- Advised Horizon Capital on the disposal of 90% stake in Ergopack Group in favour of Sarantis Group;
- Advised the seller on the sale of Karavan hypermarket chain to Auchan Group;
- Advised Diligent Capital Partners in acquisition of 16% equity stake in Allseeds SA;
- Advised on the merger of PJSC “MTB Bank” and PJSC “Commercial Bank “Center”, which created a much stronger bank, ranked among top 50 banks in Ukraine.
- Advised Uber International C.V. on obtaining a merger control clearance from the Antimonopoly Committee of Ukraine for the creation of a joint venture with Yandex, the new company is valued at USD3.8 bln;
- Advised Horizon Capital on obtaining a merger control clearance from the Antimonopoly Committee of Ukraine for the sale of Ergopack to Sarantis Group;
- Advised EVO Group, the Ukrainian e-commerce leader in the marketplace segment, on obtaining a merger control clearance of the Antimonopoly Committee of Ukraine for the merger with Rozetka Group;
- Advised one of the leading Ukrainian agricompanies on obtaining a record number of 34 merger control clearances from the Antimonopoly Committee of Ukraine within one large project for the previous violations of the merger control regime under the amnesty procedure.
- Represented several litigants in the High Court of Justice, with the total amount in dispute reaching USD1.13 bln;
- Represented the state of Ukraine in USD300 mln investment arbitration;
- Acted as experts on Ukrainian law in eight landmark investor-state arbitrations of total amount exceeding USD2 bln;
- Represented LSE listed Ferrexpo Plc in the litigations between its subsidiaries concerning the claims in the amount of over USD150 mln;
- Represented Agroprosperis in FOSFA Arbitration, awarding USD10.5 mln in client’s favour and further recognition and enforcement in a dispute dealing with Russian import ban;
- Represented Česká Exportní Banka before Ukrainian courts in multiple litigations against a Ukrainian borrower in relation to dissipation of mortgaged assets securing USD37 mln loan.
- Advised Deere & Company on employment matters in the USD5 bln acquisition of Wirtgen Group;
- Advised ClinTec International on various employment issues and has been providing complex employment support to the Ukrainian subsidiary since its establishment;
- Advised Nordcurrent, a Baltic game development company, on various employment matters related to its acquisition of Blam! Games Studios.
- Advised Investment Capital Ukraine on the sale of 50% stake in the project company to VR Capital Group and further establishment of two joint ventures to develop 63.8 MW and 34.75 MW solar power plants in Khmelnytskyi and Kherson regions;
- Advised Kernel, the world’s leading and the largest Ukrainian producer and exporter of sunflower oil, on regulatory framework for implementation of biogas projects in Ukraine;
- Advised EBRD and Black Seas Trade and Development Bank in connection with a senior secured loans in the total amount of up to EUR36,28 million to Rengy Bioenergo LLC to finance the construction and operation of a solar PV plant in Mykolaiv region for an aggregate installed capacity of 47MW.
- Represented a leading Ukrainian state-owned powergenerating company in the USD4 mln LCIA arbitration regarding the quality of shipped products;
- Advised COFCO Agri on USD5 mln dispute regarding the quality of the supplied products to the EU;
- Represented Ukrlandfarming in GAFTA arbitration in a dispute regarding the guarantee obligation in reference to contract for supply of goods USD5 mln in total.
- Advised EBRD on a senior secured loan of up to EUR5.6 mln to the LLC ‘Ekotechnik Shyroke’ on development, construction, and placing into operation of a 7.0 MW solar power plant in Ukraine;
- Advised EBRD on a senior secured loan of up to EUR9.5 mln to Nova Poshta on financing the design and construction of a new automated parcel-sorting terminal in the City of Khmelnytskyi and purchasing the equipment;
- Advised Goldman Sachs International on acquisition together with Dragon Capital of Horizon Park Business Center.
- Advised Metinvest Group on the refinancing of its USD2.271 bln debt consisting of USD1.592 bln issue of new Eurobonds and the amendment and restatement of its pre-export finance facility;
- Advised on restructuring of USD470 mln outstanding loan participation notes issued by Mriya Agro Holding Plc in the context of restructuring of its USD1 bln debt and represents the Noteholders’ Committee of Mriya in USD644 mln multiple bankruptcy proceedings against Ukrainian suretyship providers;
- Advised the City of Kyiv in regards to two exchange offer Notes of USD550 mln in total, 8%, 2015 and 9.375%, 2016.
- Advised PJSC ‘Ukrainian Railway’ on the tax treatment of the transaction of USD1 bln collaboration with General Electric for the supply of up to 225 new and modernisation of 75 currently operating locomotives, including advise on tax provisions to the framework and financial lease agreements covering 30 locomotives;
- Advised the LSE listed UK Company on compliance of its operations in Ukraine with Ukrainian tax law, including risk assessment and development of the tax compliance procedures and guidance;
- Advising MTI Group on tax issues related to the transfer of shares and assets in course corporate restructuring of its business.
|Banking & Finance||Glib Bondaremail@example.com|
|Family Law||Iryna Morozfirstname.lastname@example.org|
|International Arbitration||Ivan Kasynyukemail@example.com|
|Tax & Transfer Pricing||Vadim Medvedevfirstname.lastname@example.org|
|Capital Markets||Glib Bondaremail@example.com|
|Energy & Natural Resources||Glib Bondarfirstname.lastname@example.org|
|International Trade||Iryna Morozemail@example.com|
|Intellectual Property||Anton Polikarpovfirstname.lastname@example.org|
|IT Law||Anton Polikarpovemail@example.com|
|Banking & Finance||Maria Tsabalfirstname.lastname@example.org|
|Private Client||Aminat Suleymanovaemail@example.com|
|Private Client||Vadim Medvedevfirstname.lastname@example.org|
|Real Estate||Maksym Maksymenkoemail@example.com|
Staff FiguresPartners : 7 Counsels : 5 Associates : 38
LanguagesEnglish Ukrainian Russian
MembershipsAmerican Chamber of Commerce European Business Association International Bar Association International Fiscal Association US-Ukraine Business Council
Our traditionally strong position in the Ukrainian legal market was reconfirmed in 2019 edition of the Ukrainian Law Firms. A Handbook for Foreign Clients by Yuridicheskaya Praktika.
AVELLUM’s recognition in 2019 now extends to 20 researched practices compared to 16 practices last year. 9 AVELLUM lawyers were listed as leading individuals or notable practitioners.
The GAFTA Board of Appeal satisfied in full the Client’s claim of approximately USD150,000 seeking compensation for damages specified in a washout agreement that were caused by the failure to comply with the contract.
AVELLUM secured a favourable award for the client in the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry (“ICAC”) for a total amount of almost USD200,000.
AVELLUM acted as the Ukrainian legal counsel to the European Bank for Reconstruction and Development (“EBRD”) in connection with a senior secured loan of up to EUR10 million (with an option to incease the loan up to EUR25 million) to Private Joint-Stock Company “Kyiv Cardboard and Paper Mill” (“KCPM”).
AVELLUM and A.G.A. Partners announced that two law firms have agreed to combine effective 9 July 2018. This strategic combination brings together renowned transactional practice of AVELLUM and experienced dispute resolution practice of A.G.A. Partners.
AVELLUM acted as the Ukrainian legal counsel to Uber on obtaining a merger control clearance from the Antimonopoly Committee of Ukraine for the creation of a joint venture with Yandex. The new company is valued at USD3.8 billion.
AVELLUM Advises Ukrainian Investment Firm on Establishment of Joint Venture in Renewable Energy Sector
AVELLUM acted as the legal counsel to Investment Capital Ukraine (“ICU”) on the establishment of a joint venture with VR Capital Group to develop a 63.8 MW solar power plant in Khmelnytskyi region.
AVELLUM advises EBRD on UAH/EUR multi-currency loan to Nova Poshta
AVELLUM acted as the Ukrainian legal counsel to the European Bank for Reconstruction and Development (“EBRD”) in connection with a senior secured loan of up to EUR9.5 million to Limited Liability Company “Nova Poshta” (“Nova Poshta”).
AVELLUM advises Nordcurrent on acquisition of Blam! Games Studios
AVELLUM acted as the Ukrainian legal counsel to Nordcurrent on the acquisition of Blam! Games Studios. Nordcurrent is the largest game development studio in the Baltic region. Blam! Games Studios is a Ukrainian game development and animation studio, which has been cooperating with Nordcurrent since 2014.
AVELLUM Advises Joint Lead Managers on Issue of Hryvnia Denominated Eurobonds by Ukreximbank
AVELLUM acted as the Ukrainian legal counsel to the joint lead managers with respect to UAH4.051 billion Eurobond offering by Joint Stock Company “The State Export-Import Bank of Ukraine (“Ukreximbank”).
AVELLUM Advises MHP on USD550 Million Eurobond Issue
AVELLUM acted as the Ukrainian legal counsel to MHP SE (“MHP”) on USD550 million, 8 year, 6.95% Eurobond issue with the benefit of the guarantees from its Ukrainian subsidiaries. The joint lead managers on the transaction were J.P. Morgan Securities plc, London Branch of ING Bank N.V., and UBS Limited.
AVELLUM Advises on Largest Refinancing for Metinvest
AVELLUM acted as the Ukrainian legal counsel to Metinvest Group (“Metinvest”) on the successful refinancing of its USD2,271 million debt consisting of USD1,592 million issue of new eurobonds (“new eurobonds”) and the amendment and restatement of its pre-export finance (“PXF”) facility allowing to secure USD765 million in the PXF facility.
AVELLUM Advises Horizon Capital on Disposal of Stake in Ergopack Group
AVELLUM acted as the lead legal counsel to Horizon Capital and certain individuals on the disposal of 90% stake in Ergopack Group in favour of Sarantis Group.
AVELLUM Advises Ukrzaliznytsia on USD1 Billion Collaboration with General Electric
AVELLUM acted as the Ukrainian legal counsel to Public Joint Stock Company “Ukrainian Railway” (“Ukrzaliznytsia”) on a USD1 billion collaboration with General Electric Company (“GE”). The project aims at renovating and modernising the locomotive fleet of Ukrzaliznytsia through a long-term joint collaboration for the supply of up to 225 new locomotives and modernisation of 75 currently operating locomotives. In 2018-2019, GE is expected to supply 30 new locomotives to Ukrzaliznytsia through a financial lease agreement with Joint Stock Company “The State Export-Import Bank of Ukraine”.
AVELLUM Advises Ministry of Finance of Ukraine on State-Guaranteed USD250 Million Loan to Energoatom
AVELLUM Advises Ministry of Finance of Ukraine on State-Guaranteed USD250 Million Loan to Energoatom
AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine on the state-guaranteed USD250 million loan extended to State Enterprise National Nuclear Energy Generating Company “Energoatom”.=
AVELLUM Advises Shareholder of PJSC “Commercial Bank “Center” on Increasing Its Charter Capital
AVELLUM advised Public Joint Stock Company “Commercial Bank “Center” (“PJSC CB “Center”), a regional Ukrainian bank, and its sole shareholder Mr. Hamed Alikhani on increasing the charter capital of PJSC CB “Center” to UAH200 million. AVELLUM advised the clients on a number of corporate, regulatory, and securities issues related to increasing the charter capital, and on further acquisition of new shares in PJSC CB “Center”.
AVELLUM Promotes New Partner and Counsels
AVELLUM is pleased to announce senior promotions.
Yuriy Nechayev was promoted to a partner at Corporate/M&A practice. In his new role, Yuriy will continue focusing on M&A, corporate law, and private equity.
AVELLUM Advises Deere & Company on Employment Issues Related to Acquisition of Wirtgen Group
AVELLUM acted as the Ukrainian legal advisor to Deere & Company (“Deere”) on Ukrainian employment matters related to the USD5.2 billion acquisition of the Wirtgen Group.
AVELLUM ADVISES ING ON USD100 MILLION PRE-EXPORT LOAN FACILITY TO MHP
AVELLUM acted as a Ukrainian legal counsel to ING Bank N.V. (“ING”) on a USD100 million secured pre-export revolving loan facility (“Loan”) to Myronivsky Hliboproduct Group (“MHP”), provided by ING together with Crédit Agricole Corporate and Investment Bank.
AVELLUM successfully represented Česká Exportní Banka, a.s. (“ČEB”) in (i) a number of litigations against a Ukrainian corporate borrower in connection with attempts of illegal transfer of mortgaged real estate assets securing USD37 million loan and (ii) a sale of the relevant loan and security claims.
AVELLUM acted as a Ukrainian legal counsel to Coast2Coast, a South-African investment company, on acquisition of Poland-based Stella Pack by Bounty Brands, a part of Coast2Coast portfolio. Stella Pack is a major manufacturer and distributor of household products.
AVELLUM's Managing Partner Mykola Stetsenko Became Member of the Public Council of the Antimonopoly Committee of Ukraine
We are proud to announce that Mykola Stetsenko, Managing Partner of AVELLUM, was elected as a member of the Public Council at the Antimonopoly Committee of Ukrainе ("Public Council").
AVELLUM acted as Ukrainian legal counsel to its longstanding client Kernel Holding S.A. ("Kernel") in connection with an offering of its USD500 million 8.75% guaranteed notes due 2022. The notes are expected to be rated B+ by Fitch and B by S&P, two notches and one notch above the Ukrainian sovereign respectively.
AVELLUM acted as the Ukrainian legal counsel to AGCO in connection with obtaining a merger control clearance of the Antimonopoly Committee of Ukraine for the acquisition of Cimbria for EUR310 million.
AVELLUM Advises UniCredit on Disposal of Shares in PJSC "Ukrsotsbank" in Favour of ABH Holdings S.A.
Kyiv, 7 November 2016 - AVELLUM advised UniCredit Group ("UCG") on Ukrainian law matters in connection with the disposal of 99.9% shares in PJSC "Ukrsotsbank", an asset of UCG in Ukraine, in exchange for a minority stake (9.9%) in ABH Holdings S.A.
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 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 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.
AVELLUM acted as the Ukrainian legal counsel to the European Bank for Reconstruction and Development (“EBRD”>) and Nederlandse Financierings – Maatschappij voor Ontwikkelingslanden N.V. (“FMO”) in connection with a senior secured loan to LLC “Chysta Enerhiia-2011” in the total amount of up to EUR 24.5 million (and each 50%).
AVELLUM acted as the legal counsel to Investment Capital Ukraine (“ICU”) on the complex M&A transaction involving:
AVELLUM acted as the Ukrainian legal counsel 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 the total amount equivalent to approximately USD1 billion.
AVELLUM acted as the Ukrainian legal counsel to the European Bank for Reconstruction and Development (“EBRD”) and the Black Sea Trade and Development Bank ("BSTDB") in connection with senior secured loans in the total amount of up to EUR36.3 million to Rengy Bioenergo LLC (“Loans”).
AVELLUM acted as the legal counsel on the merger of Public Joint Stock Company “MTB Bank” (“MTB Bank”) and Public Joint Stock Company “Commercial Bank “Center” (“Bank Center”). The merger was conducted under a simplified procedure introduced by the Law of Ukraine “On Simplifying Reorganisation and Capitalisation Procedures for Banks”, which became effective on 29 April 2017 (“Law”).
AVELLUM acted as the legal counsel to its longstanding client Kernel Holding S.A. (“Kernel”) on the acquisition of 100% of shares in Rail Transit Kargo Ukraine (“RTK-Ukraine”) worth, based on the enterprise value, USD64 million.
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.
AVELLUM is happy to announce that Viktoriia Morozova has joined the firm’s Energy and Infrastructure practice as an of counsel.
AVELLUM is happy to announce the promotion of Vadim Medvedev to partner effective from 1 January 2019.
Vadim leads the firm’s tax practice and has an outstanding track record in the areas of international tax planning, transaction structuring, and succession planning matters. Vadim is also highly praised for successfully representing clients in tax litigation cases.
AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine on the USD2 billion sovereign Eurobond issue consisting of two tranches with 5.5 and 10-year tenor. J.P. Morgan Securities, Goldman Sachs, BNP Paribas, and Citigroup acted as joint lead managers on the transaction.
AVELLUM acted as the Ukrainian legal counsel to the European Bank for Reconstruction and Development (“EBRD”) in connection with a senior secured loan of up to EUR1.3 million to Private Higher Educational Establishment "Kyiv Medical University" (“KMU”).
AVELLUM advises Ukrainian investment firm on establishment of yet another joint venture in renewable energy sector
AVELLUM advises Diligent Capital Partners on acquisition of 16% equity stake in Allseeds
AVELLUM acted as the Ukrainian legal counsel to a private equity vehicle managed by responsAbility Investments AG (“responsAbility”) in connection with the acquisition of a shareholding in Bank Lviv. Bank Lviv is the first investment project of responsAbility in Ukraine. Further on, responsAbility intends to increase its stake in the bank to 51%.
Mykola Stetsenko, Managing Partner, AVELLUM
Yaroslav Medvediev, Senior Associate, AVELLUM
2015 and 2016 turned into a period of reform for the Ukrainian antitrust regulatory framework and the Ukrainian competition authority – the Antimonopoly Committee of Ukraine (AMC). The AMC’s new executive team follows the best European practices in antitrust and competition field as the model for development of domestic competition environment. During those two years, the AMC significantly increased its investigation of alleged violations of competition law (including violations of the merger control regime, cartels, unauthorized concerted practices, abuse of dominance, unfair competition, and bid rigging) and deepened its commitment to promoting fair competition in general. In this regard, the existence of the antitrust compliance program for medium and large-sized companies has become very important.