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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. 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.

Recent work highlights
Banking and finance

• Advised EBRD on EUR50m financing of new metro cars for Kyiv Metro
• Advised EBRD in connection with a long term secured loan to Limited Liability Company “Novi Biznes Poglyady” in the total amount of up to EUR52.5m
• Advised Black Sea Trade and Development Bank in connection with a long-term secured loan to Limited Liability Company “Butsefal” and Prometey Swiss SA in the total amount of up to USD10m
• Advised on USD464m bridge loan financing for Bakcell’s acquisition of Private Joint Stock Company “VF Ukraine”

Capital markets:

• Advised Kernel on its USD300m Eurobond offering and tender offer
• Advised on USD600m tap issue of outstanding 2033 Eurobonds by Ukraine
• Advised on Eurobond cash tender offer by Ukreximbank
• Advised Metinvest on USD333m Eurobond issue and cash tender offers
• Advised the Ministry of Finance of Ukraine in connection with an open market repurchase of Ukraine’s outstanding GDP-linked warrants funded through a tap issue of sovereign Eurobonds, and a new macro-financial assistance (MFA) programme from the European Union
• Advised the Ministry of Finance of Ukraine on the issuance by Ukraine of its new USD2bn 7.253% senior notes due 2033
• Advised on Vodafone Ukraine’s Eurobond offering of USD500m 5-year 6.2% loan participation notes

Corporate/M&A, commercial

• Advised on sale of 3 wind power plants of 49.5 MW total capacity
• Advised CHG Healthcare, one of the largest healthcare staffing companies in the US, on the acquisition of Modio Health
• Advised UDP on the acquisition of a 33.35% stake in Ocean Plaza
• Advised Argus Media Ltd on the acquisition of Agritel International, a subsidiary of Agritel
• Advised Dobrobut’s major shareholders on buyback of Dobrobut’s shares from Horizon Capital

Competition/antitrust

• Successfully defended interests of British American Tobacco in appeal proceedings against Antimonopoly Committee of Ukraine
• Advised Furshet on Ukrainian merger control aspects of Furshet’s acquisition by FOZZY GROUP
• Advised British American Tobacco in a complex and high profile litigation in connection with challenging EUR245m fine imposed by the Antimonopoly Committee of Ukraine
• Advised Cartamundi NV on obtaining merger control clearances and concerted practices clearance for the acquisition of The United States Playing Card Company division from Newell Brands Inc.
• Advised Ecomed on antitrust matters regarding concerted practices

Dispute resolution

• Кepresented Sembol Construction in a significant dispute against Ukrainian tax authorities
• Represented the world’s leading manufacturer of construction and mining equipment in a set of debt recovery litigations and advised on the administrative dispute procedure
• Acts for Uber Ukraine in litigation launched by a victim of a road accident seeking to recover damages both from driver and from Uber

Employment

• Advised Deere & Company on employment matters in the USD5bn 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.
  

Energy and natural resources

• DTEK Renewables on a debut EUR325m 5-year 8.50% green Eurobond offering
• Advised EBRD, NEFCO, and Swedfund on EUR54m financing of a 55.4 MWp solar plant in Ukraine
• Advised EBRD and BSTDB on construction and operation of a solar PV plant by Rengy Bioenergo for an aggregate installed capacity of 47MW – the first solar power projects under EBRD’s recently approved Ukraine Sustainable Energy Lending Facility III framework

Real estate

• Advised EBRD on a senior secured loan of up to EUR5.6m 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 EUR9.5m 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. 

Real estate

• Advised SM Invest Construction B.V., a solar PV plants developer, on the sale of shares in the holding company
• Advised Investment Capital Ukraine (“ICU”) on the complex M&A transaction involving sale to VR Capital Group of 50% stake in a holding company owning 11 solar plants and establishment of a joint venture between ICU and VR
• Advised EBRD on two separate loans of up to EUR 26.4m to LLC “Chysta Energiya-2011” to finance the construction and operation of a 29MW solar PV plant
• Advised sellers on the sale of Smart Plaza Obolon, a newly constructed shopping and entertainment center in Kyiv

Tax

• Advised on tax issues of private placement of USD725m zero-coupon notes maturing in 2019, followed by USD2bn sovereign Eurobond issue by Ukraine
• Advised Uber on various tax aspects of operating in Ukraine, including the launch of Uber Eats and Uber Shuttle in Ukraine
• Advised the joint lead managers on tax issues on EUR600m and USD335m Eurobond offering of Naftogaz of Ukraine

International trade

• Represents world’s leading investment funds as owners of the majority of notes issued by Mriya Agro Holding Plc in the insolvency proceedings of Mriya group companies
• Advised Jacobs Douwe Egberts Ukraine on the broad range of tax and customs matters related to their Ukrainian operations
• Represents LLC Urozhaina Kraina before the Supreme Court in a tax dispute concerning cancellation of tax assessment notices

Intellectual property

• Advised Kaufland Dienstleistung GmbH & Co. KG in connection with the prosecution of its trademark in Ukraine
• Advised Sulphur Mills Limited in connection with patent filing and prosecution in Ukraine
• Advised Tizona Therapeutics, Inc., an American biotechnology company, in connection with filing and prosecution of an invention

International arbitration

•  Represented a major CEE-based mining machinery producer in four disputes with a Hong Kong company before the ICAC at the Ukrainian Chamber of Commerce and Industry

Press Releases

AVELLUM PROMOTES MYKYTA NOTA TO COMPETITION PARTNER

18th January 2022 AVELLUM is pleased to announce the promotion of Mykyta Nota to partner effective from 1 January 2022.

AVELLUM ADVISES ON SUCCESSFUL PRIVATISATION OF BILSHOVYK PLANT

13th January 2022 AVELLUM acted as the legal counsel to the parties in connection with obtaining merger control clearance from the Antimonopoly Committee of Ukraine for privatisation of Joint Stock Company “First Kyiv Machine-Building Plant” (“Bilshovyk Plant”).

AVELLUM’S COMPETITION PRACTICE WAS HIGHLY RECOMMENDED IN GCR 100 RANKING

10th January 2022 AVELLUM was ranked as a Highly recommended firm in the 2022 edition of Global Competition Review 100 (GCR 100), a comprehensive listing of the world’s best competition practices. 

Buyers become more demanding with respect to potential targets, AVELLUM’s survey reveals

4th January 2022 AVELLUM for the second time researched how the coronavirus outbreak affected the plans of businesses to purchase or sell assets or companies in Ukraine in the next 6 to 12 months. We surveyed over 90 owners, top managers, and heads of legal departments of Ukrainian and international companies in 2021.

AVELLUM advises MHP on investment into Foodz

9th November 2021 AVELLUM acted as the legal counsel to its long-standing client MHP in connection with investment into Ukrainian food-tech start-up Foodz. As a result of two rounds of funding, MHP received a minority stake in Foodz.

AVELLUM advises world’s leading online gaming and betting company in connection with criminal investigation by Ukrainian law enforcement authorities

27th October 2021 AVELLUM conducted a risk-based analysis of the client’s business model in terms of compliance with the newly-introduced regulatory framework and criminal liability risks in Ukraine. The central issue was a criminal investigation into illegal gambling allegations targeting a number of international online gambling companies. Our advice included development of the strategy for liaison with prosecution (including through international legal assistance means) and challenge of web-site blockage orders imposed by Ukrainian courts.

AVELLUM ADVISES KASPI.KZ ON ACQUISITION OF PORTMONE

13th October 2021 AVELLUM acted as the Ukrainian legal counsel to JSC “Kaspi.kz” (“Kaspi.kz”) in connection with the acquisition of 100% shares in Portmone Group (“Portmone”) by Kaspi Pay, a wholly owned subsidiary of Kaspi.kz.

Ukraine makes headway with land reform

6th September 2021 The long-awaited Law of Ukraine “On amendments to the Land Code of Ukraine and other legislative acts to improve the governance of land relations and their deregulation” No. 1423-IX (“Law”) entered into force (save for certain provisions).

AVELLUM advises A-Development on construction of multifunctional real estate complex in Kyiv centre

6th September 2021 AVELLUM acted as the legal counsel to A-Development – one of the leading Ukrainian developers – on the construction of a real estate complex in the centre of Kyiv in the form of a joint investment with a business partner.

AVELLUM advises on sale of containerboard plant

6th September 2021 AVELLUM acted as legal counsel to investment company Concorde Capital and its partners on the sale of a 72% stake in a containerboard producing company.

AVELLUM advises Ministry of Finance of Ukraine on EUR116 million financing to purchase patrol boats for State Border Guard Service of Ukraine

6th September 2021 AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine in connection with two loan agreements for a total amount of EUR116 million together constituting official financial support from France to Ukraine aimed at strengthening maritime safety and security of Ukraine.

AVELLUM advises Diligent Capital Partners on acquisition of minority stake in Edinstvo Group

6th September 2021 AVELLUM acted as the Ukrainian legal counsel to its long-standing client Diligent Capital Partners (“DCP”), a private equity manager, acting together with the Dutch entrepreneurial development bank FMO (“FMO”), in connection with the acquisition of a minority stake in the leading Ukrainian feed producer Edinstvo Group. As a result of the transaction, Edinstvo Group obtained the USD20 million financing that it plans to use to construct a soybean processing plant, expand feed additives production capacity and install additional feed packaging lines.

AVELLUM advises on Ukraine’s first notes issue listed on London Stock Exchange

6th September 2021 AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine in connection with a USD1.25 billion notes issue with an 8-year maturity priced at 6.875% annual yield.

AVELLUM advises on Ukravtodor’s debut USD700 million Eurobond issue guaranteed by Ukraine

6th July 2021 AVELLUM acted as the Ukrainian legal counsel to (і) the State Road Agency of Ukraine (“Ukravtodor”) on a debut USD700 million issue of 6.25% guaranteed notes due 2028 with a benefit of the sovereign guarantee, and (ii) the Ministry of Finance of Ukraine in connection with the sovereign guarantee. The notes were admitted to listing on the London Stock Exchange.

AVELLUM advises DTEK on USD2 billion debt restructuring

2nd July 2021 AVELLUM acted as the Ukrainian legal counsel to DTEK Group in connection with the debt restructuring under the two inter-conditional English schemes of arrangement for DTEK Energy B.V. and DTEK Finance PLC.

AVELLUM advises Interpipe on USD300 million Eurobond issue

2nd July 2021 AVELLUM acted as the Ukrainian legal counsel to Interpipe Holdings Plc (“Interpipe”) on USD300 million issue of 8.375% guaranteed notes due 2026. The notes were admitted to listing on the Luxembourg Stock Exchange.

Ukraine makes headway with land reform

2nd June 2021 The long-awaited Law of Ukraine “On amendments to the Land Code of Ukraine and other legislative acts to improve the governance of land relations and their deregulation” No. 1423-IX (“Law”) entered into force (save for certain provisions).

AVELLUM advises A-Development on construction of multifunctional real estate complex in Kyiv centre

2nd June 2021 AVELLUM acted as the legal counsel to A-Development – one of the leading Ukrainian developers – on the construction of a real estate complex in the centre of Kyiv in the form of a joint investment with a business partner.

AVELLUM advises on sale of containerboard plant

2nd June 2021 AVELLUM acted as legal counsel to investment company Concorde Capital and its partners on the sale of a 72% stake in a containerboard producing company.

AVELLUM advises Ministry of Finance of Ukraine on EUR116 million financing to purchase patrol boats for State Border Guard Service of Ukraine

2nd June 2021 AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine in connection with two loan agreements for a total amount of EUR116 million together constituting official financial support from France to Ukraine aimed at strengthening maritime safety and security of Ukraine.

AVELLUM advises Diligent Capital Partners on acquisition of minority stake in Edinstvo Group

2nd June 2021 AVELLUM acted as the Ukrainian legal counsel to its long-standing client Diligent Capital Partners (“DCP”), a private equity manager, acting together with the Dutch entrepreneurial development bank FMO (“FMO”), in connection with the acquisition of a minority stake in the leading Ukrainian feed producer Edinstvo Group. As a result of the transaction, Edinstvo Group obtained the USD20 million financing that it plans to use to construct a soybean processing plant, expand feed additives production capacity and install additional feed packaging lines.

AVELLUM advises on Ukraine’s first notes issue listed on London Stock Exchange

2nd June 2021 AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine in connection with a USD1.25 billion notes issue with an 8-year maturity priced at 6.875% annual yield.

AVELLUM advises Dobrobut’s major shareholders on buyback of Dobrobut’s shares from Horizon Capital

19th April 2021 AVELLUM assisted with the preparation and negotiation of the transaction documents and coordinated completion of the entire transaction. Notably, AVELLUM team advised on the disposal of the stake to Horizon Capital in 2018-2019.

AVELLUM advises EBRD on EUR50 mln financing of new metro cars for Kyiv Metro

19th April 2021 Proceeds from the EBRD loan will be used to finance the procurement of 50 new metro cars (as well as related services and equipment). These metro cars will carry passengers on one of the Kyiv underground rail network lines. Such an upgrade of the Kyiv metro rolling stock is expected to encourage more people to use modern and efficient public transport instead of their private cars, reducing traffic congestion in Kyiv.

AVELLUM advises on sale of 3 wind power plants of 49.5 MW total capacity

19th April 2021 AVELLUM provided full legal support to the client in negotiating and drafting the transaction documents.

AVELLUM advises Furshet on Ukrainian merger control aspects of Furshet’s acquisition by Fozzy Grou

1st March 2021 AVELLUM acted as the legal advisor to Furshet, a Ukrainian supermarket chain, on obtaining merger control clearance from the Antimonopoly Committee of Ukraine for the acquisition of control over Furshet’s retail assets by Fozzy Group.

AVELLUM closes 2020 with 3 more successful Eurobond deals

25th January 2021 AVELLUM advised on all largest private and sovereign Eurobond issuances and liability management transactions out of Ukraine in 2020. Despite the global turbulence during the year, we are proud to close 2020 with the following successful Eurobond offerings and liability management transactions:

AVELLUM advises Metinvest on USD333 million Eurobond issue and cash tender offer

7th January 2021 AVELLUM acted as the Ukrainian legal counsel to Metinvest B.V. on:

AVELLUM advises on sale of AXDRAFT to Onit

7th January 2021 AVELLUM acted as the Ukrainian legal counsel to major shareholders of AXDRAFT, a Ukrainian document automation company, on its sale to Onit. We advised on tax and corporate structuring, as well as transactional matters pertaining to major shareholders.

AVELLUM advises Nemiroff on first successful privatisation of Ukrspyrt’s alcohol production facility

7th January 2021 AVELLUM acted as the legal advisor to LLC “LVN Limited”, a part of Nemiroff Group (“Nemiroff”) on obtaining merger control clearance of the Antimonopoly Committee of Ukraine (“AMCU”) for the privatisation of a part of assets of Ukrainian State-Owned Enterprise of Alcohol and Liquor Industry “Ukrspyrt” (“Ukrspyrt”).

AVELLUM advises on Ukraine’s USD2 billion senior notes issue and switch tender offer

22nd October 2020  AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine on the issuance by Ukraine of its new USD2 billion 7.253% senior notes due 2033 (“New Eurobonds”). The new issuance was combined with Ukraine’s first ever switch tender offer in relation to its outstanding USD-denominated 7.75% senior notes due 2021 and USD-denominated 7.75% senior notes due 2022. The New Eurobonds were admitted to trading on the regulated market of Euronext Dublin.

AVELLUM advises Argus Media Ltd on acquisition of Agritel International

16th October 2020 AVELLUM acted as the Ukrainian legal counsel to Argus Media Ltd on the acquisition of Agritel International, a subsidiary of Agritel, an expert provider of information, consulting, and forecasting on agricultural and agro-industrial markets.

AVELLUM advises on over USD1.5 billion of Ukraine’s sovereign financings

16th October 2020 AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine in connection with:

AVELLUM and AGA Partners represented major mining machinery producer in four disputes before ICAC

16th October 2020 AVELLUM jointly with AGA Partners successfully represented a major CEE-based mining machinery producer in four disputes with a Hong Kong company before the ICAC at the Ukrainian Chamber of Commerce and Industry. The disputes arose under four separate contracts for the supply of mining machinery and equipment to Ukraine amounting to a total of almost EUR6 million.

AVELLUM has successfully defended its client in arbitration on jurisdictional ground

20th May 2020 AVELLUM successfully represented a Swiss agri-trading company (“Buyer”) in a London-based commodity arbitration initiated by one of major Ukrainian agricultural holdings (“Seller”). The dispute arose based on an Ex Works sale contract and concerned an alleged failure of the Buyer to make a payment.

AVELLUM advises on acquisition of 33% stake in Ocean Plaza by UDP

29th April 2020 AVELLUM acted as the legal counsel to UDP, a leading Ukrainian development company, on the acquisition of a 33.35% stake in Ocean Plaza, one of the largest shopping and entertainment centres in Ukraine and Europe.

AVELLUM advises BSTDB on secured loan to Prometey group

31st March 2020 AVELLUM acted as the Ukrainian legal counsel to the Black Sea Trade and Development Bank (“BSTDB”) in connection with a long-term secured loan to Limited Liability Company “Butsefal” and Prometey Swiss SA in the total amount of up to USD10 million.

AVELLUM advises EBRD on EUR52.5 million loan facility to one of largest shopping malls in Odesa

31st March 2020 AVELLUM acted as the Ukrainian legal counsel to the European Bank for Reconstruction and Development (“EBRD”) in connection with a long term secured loan to Limited Liability Company “Novi Biznes Poglyady” (“NBP”) in the total amount of up to EUR52.5 million.

AVELLUM advises on Vodafone Ukraine aqcuisition and Eurobond financings

26th February 2020 AVELLUM acted as the Ukrainian legal counsel to:

AVELLUM advises on Ukraine’s new benchmark euro-denominated notes

11th February 2020 AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine on the second breakthrough issuance of Ukraine’s euro-denominated notes.

AVELLUM advises joint lead managers on USD100 million Tier 2 Eurobond offering by Ukreximbank

7th February 2020 AVELLUM acted as the Ukrainian legal counsel to J.P. Morgan Securities and Morgan Stanley acting as joint lead managers in connection with USD100 million Tier 2 Eurobond offering by the State Export-Import Bank of Ukraine (“Ukreximbank”).

AVELLUM advises DTEK Renewables on Debut Green Eurobond Offering

10th January 2020 AVELLUM acted as the Ukrainian legal counsel to DTEK Renewables on a debut EUR325 million 5-year 8.50% green Eurobond offering.

AVELLUM advises CHG Healthcare on acquisition of Modio Health

10th January 2020 AVELLUM acted as the Ukrainian legal counsel to CHG Healthcare,one of the largest healthcare staffing companies in the US, on the acquisition of Modio Health, a provider of technology solutions for the healthcare industry.

AVELLUM advises Van Leeuwen Pipe and Tube Group on acquisition of Benteler Distribution Ukraine

10th January 2020 AVELLUM acted as the Ukrainian legal counsel to the Netherlands based Van Leeuwen Pipe and Tube Group on the acquisition of BENTELER Distribution Ukraine, a part of the international distribution division of BENTELER International AG.

AVELLUM advises UFUTURE on merger control clearance for partial sale of its stake in LvivTech.City

13th December 2019 AVELLUM acted as the legal counsel to UFUTURE on obtaining a merger control clearance of the Antimonopoly Committee of Ukraine for the partial sale of its stake in LvivTech.City.

AVELLUM advised Metinvest on dual-currency Eurobond issue and tender offer

26th November 2019 AVELLUM acted as the Ukrainian legal counsel to Metinvest B.V. on:

AVELLUM advises MHP on USD350 million Eurobond issue

26th November 2019 AVELLUM acted as the Ukrainian legal counsel to MHP Lux S.A. (“MHP”) on USD350 million offering of 6.250% notes due 2029 (“Notes”). The transaction was structured as an offering of the Notes guaranteed on a senior basis by MHP SE and certain of its Ukrainian and Cypriot subsidiaries.

AVELLUM is highly ranked in 20 practices by Ukrainian Law Firms 2019

19th July 2019

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. 

AVELLUM wins swaps case in GAFTA arbitration

29th April 2019

AVELLUM successfully represents the client in GAFTA appeal

29th April 2019

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 successfully represents international inspection company in ICAC arbitration

29th April 2019

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 advises EBRD on infrastructure financing to Negabarit-Service

29th April 2019

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 EUR2.6 million to Negabarit-Service LLC (“Company”), a Ukrainian leader in the oversized and complex auto cargo transportations.

AVELLUM advises EBRD on senior secured loan to Kyiv Cardboard and Paper Mill

2nd August 2018

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 announce combination

13th July 2018

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 Advises Uber on Merger Control Clearance for Joint Venture with Yandex

28th June 2018

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 JV in Renewable Energy Sector

28th June 2018

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

28th June 2018

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

28th June 2018

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

22nd May 2018

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

22nd May 2018

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

22nd May 2018

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

22nd May 2018

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

13th March 2018

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

13th March 2018

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 Promotes New Partner and Counsels

13th February 2018

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 Shareholder of PJSC “Commercial Bank “Center” on Increasing Its Charter Capita

13th February 2018

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 Advises Deere & Company on Employment Issues Related to Acquisition of Wirtgen Group

29th January 2018

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

11th January 2018

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 Advises AGCO on Merger Control and Concerted Practices Clearances

11th January 2018 AVELLUM Advises AGCO on Merger Control and Concerted Practices Clearances for Acquisition of Precision Planting and Assets Owned by Monsanto Argentina and Monsanto Do Brasil

AVELLUM Successfully Represents Česká Exportní Banka Before Ukrainian Courts

16th November 2017

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 Advises Coast2Coast on Acquisition of Household Products Producer Stella Pack

16th November 2017

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.

Financial Times Praises AVELLUM for Innovation in Dispute Resolution

10th October 2017 FT Innovative Lawyers 2017 recognised AVELLUM for pioneering the litigation strategy that helped to achieve a unique resolution from the Ukrainian court in favour of the bondholders of Ukrainian agricultural group Mriya.

AVELLUM Advises on Ukraine’s USD3 Billion Sovereign Bond Issue and Tender Offer

10th October 2017

AVELLUM acted as Ukrainian legal advisor to the Ministry of Finance of Ukraine on its USD3 billion, 15-year, 7.375% Eurobond issue which was combined with the cash tender offer to the holders of the outstanding Eurobonds due 2019 and 2020. BNP Paribas, Goldman Sachs and J.P. Morgan Securities plc acted as joint lead managers on the transaction. The transaction is the first stand-alone sovereign bond issue by Ukraine since its 2015 sovereign debt restructuring.

AVELLUM Advises Seller on Sale of Karavan Hypermarket Chain to Auchan Group

20th July 2017 AVELLUM acted as a legal advisor to the seller regarding the sale of Karavan Hypermarket chain to Auchan Group.

AVELLUM Advises Kernel Holding S.A. on Acquisition of Farming Business by Its Subsidiary

20th July 2017 AVELLUM advised its longstanding client Kernel Holding S.A. (“Kernel”) on the acquisition of 100% of shares in a farming business that manages over 170,000 tons of grain storage capacity and over 27,500 hectares of leasehold farmland by one of its subsidiaries. Total consideration of the deal amounted to USD43.3 million and was paid in cash.

AVELLUM Advises Investor on Acquisition of 99.91% Stake in Marfin Bank from Cyprus Popular Bank

5th July 2017

AVELLUM advised Saggarco Ltd on the acquisition of 99.91% stake in PJSC Marfin Bank (“Marfin Bank”) from Cyprus Popular Bank Public Co Ltd (“CPB”).

We assisted our client with the due diligence of Marfin Bank, pre-transaction restructuring, transaction documentation, approvals of the National Bank of Ukraine and the Antimonopoly Committee of Ukraine.

AVELLUM Advises MHP on Benchmark Eurobond Issue

5th July 2017

AVELLUM acted as Ukrainian legal advisor to MHP S.A. (“MHP”) on the benchmarck USD500 million, 7 year, 7.75% 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 and London Branch of ING Bank N.V.

AVELLUM Advises Kernel Holding S.A. on Acquisition of a Large-scale Farming Business

21st June 2017

AVELLUM advised its longstanding client Kernel Holding S.A. (“Kernel”) on the acquisition of 100% of shares in a large-scale farming business that manages over 190,000 hectares of leasehold farmland and approximately 200,000 tons of grain storage capacity. The value of the deal was USD155 million.

Avellum Advises Bondholders Committee On Metinvest Usd2.3 Billion Debt Restructuring

9th May 2017 AVELLUM ADVISES BONDHOLDERS COMMITTEE ON METINVEST USD2.3 BILLION DEBT RESTRUCTURING

AVELLUM Contributed to an Amicus Curiae Brief for the Court Proceeding

9th May 2017 AVELLUM Contributed to an Amicus Curiae Brief for the Court Proceeding, Which May Have Considerable Impact on Enforceability of Foreign Awards in Ukraine.

Mykola Stetsenko Became Member of the Public Council of the Antimonopoly Committee of Ukraine.

20th March 2017

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 Advised Deutsche Beteiligungs AG on Investment in Dieter Braun GmbH

13th February 2017

AVELLUM Advised Deutsche Beteiligungs AG on Investment in Dieter Braun GmbH

AVELLUM acted as the Ukrainian legal counsel to Deutsche Beteiligungs AG ("DBAG") in connection with the EUR5.9 million investment in Dieter Braun GmbH ("Braun").

AVELLUM Advises Kernel on Debut USD500 Million Eurobond Issue

7th February 2017

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 Advises Bondholders Committee on DTEK Energy Long-Term Restructuring

7th February 2017

AVELLUM acted as a Ukrainian law counsel to the bondholder group composed of holders of senior notes (the "Notes") issued by DTEK Finance plc in connection with the long-term restructuring of the Notes as part of the long-term restructuring of the debts of the DTEK Energy group.

AVELLUM Advised CPPIB on Acquisition of 48% Stake in GlobalLogic Inc. from Apax Funds

7th February 2017

AVELLUM Advised CPPIB on Acquisition of 48% Stake in GlobalLogic Inc. from Apax Funds

AVELLUM acted as the Ukrainian legal counsel to Canada Pension Plan Investment Board ("CPPIB") in connection with the acquisition of an approximate 48% stake in GlobalLogic Inc. from Apax Funds.

AVELLUM Advises EBRD on EUR1.4 Million Secured Loan Facility to KHASK

18th January 2017

KHASK is a Ukrainian major producer and exporter of self-adhesive tapes and packaging materials. The loan facility is used to finance the purchase and installation of a solvent recuperation system, related general construction and energy efficiency capital investments.

AVELLUM team was led by Senior Associate, Taras Dmukhovskyy, with significant support from Associates, Taras Stadniichuk and Orest Franchuk, under the supervision of Partner, Glib Bondar.

AVELLUM Leads in the Largest Public Deals According to “TOP 50 Law Firms of Ukraine – 2016”

6th December 2016

AVELLUM leads in the number of the largest public deals аccording to the recently published "TOP 50 Law Firms of Ukraine - 2016" ranking. We have advised on 12 out of 50 largest public transactions, reported by this edition.

AVELLUM Advised AGCO on Merger Control Clearance for Acquisition of Cimbria

22nd November 2016

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

15th November 2016

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.

Legal Developments

Ukraine introduces special legal regime for IT companies

9th November 2021 On 14 August 2021, the majority of provisions of Law of Ukraine “On Stimulating the Development of the Digital Economy in Ukraine” No. 1667-IX, (“Law”) came into force.

Simplified procedure for registration of rights to land plots under purchased real estate

9th November 2021 Law of Ukraine “On Amendments to Certain Legislative Acts of Ukraine (Regarding the Unified Legal Fate of Land Plots and Real Estate Located on It)” No. 1174-IX, dated 2 February 2021 (“Law”), comes into force.

Implementation of large-scale infrastructure projects is one of the key priorities of the Government

19th April 2021 Implementation of large-scale infrastructure projects is one of the key priorities of the Government for the upcoming years. The prospects of the infrastructure development look promising, and the sheer number of investment opportunities Ukraine can offer rises steadily.

Production Sharing Agreements in Ukraine: Who Will Win the Battle?

3rd March 2021 The PSA law, despite its comparatively rare usage, complies with the best industry practices and provides the parties with enough instruments to ensure, that the signed PSA will suit their needs. At the same time, the PSA industry receives less attention from the State and, therefore, is less successful in Ukraine, especially comparing to the recent concession reform, which drew an unprecedented amount of foreign investments into Ukrainian seaport infrastructure.

MAPing taxes: How to protect international investors in an unsettled tax world

15th February 2021 Based on the data from the Organization for Economic Co-operation and Development (OECD), the world economy should say “gracias” to multinational enterprises (MNEs) for approximately 50% of the global exports, 33% of the world’s GDP, and 25% of the global employment. Huge amounts of capital moving back and forth between MNEs have eventually appeared on the radar of tax authorities in various jurisdictions. As a result, the OECD launched a massive plan to counteract aggressive tax planning called base erosion and profit shifting (BEPS) action plan.

Myths Shattered: 8 Misperceptions of Doing Business in Ukraine

20th October 2020 Mykola Stetsenko, managing partner, AVELLUMForeign 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 advises ICU on sale of stake in over 200 MW alternative energy projects

25th September 2019

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 advises on sale of Smart Plaza Obolon

20th September 2019

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 advises Cornerstone Partners on acquisition of CoreValue

8th August 2019 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 successfully represents English trading company in GAFTA arbitration

8th August 2019

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 advises joint lead managers on EUR600 mln and USD335 mln Naftogaz Eurobond issue

8th August 2019

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 advises GROUPE ATLANTIC on acquisition of one of SST Group’s businesses

25th July 2019 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 advises on Ukraine`s first in over a decade Euro-denominated notes issue

12th July 2019 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 advises solar power plant developer on sale of solar project

12th July 2019

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 advises EBRD on secured loan to major Ukrainian wood processing company

28th June 2019

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 advises Dobrobut on investment by Horizon Capital

5th June 2019

AVELLUM acted as the legal counsel to Dobrobut, the leading private healthcare services provider in Ukraine, and its shareholders on the disposal of a minority stake in Dobrobut to Horizon Capital.

AVELLUM advises EBRD on another large renewable energy financing deal

4th June 2019

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 advises ICU on sale of 50% stake in 11 solar park projects

16th May 2019

AVELLUM acted as the legal counsel to Investment Capital Ukraine (“ICU”) on the complex M&A transaction involving:

AVELLUM advises on IBRD-supported financing for Ukraine

20th March 2019

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 advises EBRD and BSTDB on financing of one of largest solar projects in Ukraine

20th March 2019

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 advises MTB Bank and Bank Center on merger

6th March 2019

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 advises PrJSC “Jacobs Douwe Egberts Ukraina” on squeeze-out and transformation procedure

6th March 2019

AVELLUM advised the client on minorities squeeze-out procedure followed by the successful corporate reorganisation of “Jacobs Douwe Egberts Ukraina” from a private joint stock company to a limited liability company.

AVELLUM advises Kernel on USD64 million acquisition of railcar business by its investment fund

6th March 2019

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 advises solar power plant developer on sale of solar project

6th March 2019

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 120MW solar power plant in Mykolaiv region. Scatec Solar, a leading and globally acting solar energy producer, acted as the purchaser.

AVELLUM successfully represents client’s interests in GAFTA arbitration

25th January 2019

AVELLUM successfully represented the client's interests in GAFTA arbitration in the dispute with a Swiss trading company.

As the result of 8 months long arbitral proceedings, the tribunal satisfied demands of our client in full, for a total amount of over USD200,000.

AVELLUM advised EVO Group on its merger with Rozetka

25th January 2019

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.

Viktoriia Morozova joins the AVELLUM’s Energy practice as of counsel

25th January 2019

AVELLUM is happy to announce that Viktoriia Morozova has joined the firm’s Energy and Infrastructure practice as an of counsel.

AVELLUM promotes Vadim Medvedev to tax partner

25th January 2019

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 advises on Ukraine’s USD2 billion Eurobond issue

11th December 2018

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 advised largest Ukrainian brick manufacturer on restructuring and refinancing of its debt

11th December 2018 AVELLUM acted as the Ukrainian legal counsel to Private Joint Stock Company with Foreign Investments “Slobozhanska Budivelna Keramika” (“SBK”) in connection with the restructuring and refinancing of SBK’s debt, valued at approximately EUR20 million. Atlas Advisors, an independent investment banking firm, acted as the exclusive financial advisor to the SBK’s shareholders in connection with the restructuring of the credit portfolio, attraction of financing for the debt’s refinancing, and buy-out of SBK’s shares.

AVELLUM advises EBRD on first financing of Academic Institution in Ukraine

4th December 2018

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 successfully represented Swiss Company in GAFTA arbitration

3rd December 2018 AVELLUM represented a Swiss Company (“Claimant”) in GAFTA arbitration dispute under CIF sale contract with an Egyptian company (“Respondent”) regarding compensation of damages in the form of demurrage and interest for the late payment for the goods.

AVELLUM represented UK citizen in Supreme Court of Ukraine

5th November 2018 AVELLUM represented UK citizen in Supreme Court dispute regarding return of wrongfully retained child to England.AVELLUM successfully represented a UK citizen in the Supreme Court of Ukraine (“Supreme Court”) in a dispute regarding the return of a wrongfully retained child to England.

AVELLUM advises ICU on establishment of joint venture in renewable energy sector

5th November 2018

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

5th November 2018

AVELLUM advises Diligent Capital Partners on acquisition of 16% equity stake in Allseeds

AVELLUM advises on acquisition of shares in Bank Lviv

4th October 2018

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%.

Antitrust Compliance Program in Ukraine: Current Status and Development Prospect

5th July 2017

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.

Recent Legal Developments in Renewable Energy Sector

5th July 2017

Glib Bondar, Partner, AVELLUM

Dmytro Symbiryov, Associate, AVELLUM

Ukraine has huge potential and capacity for growth in renewable energy sector. In view of the Government’s efforts to attract foreign capital flow into the economy, Ukraine continues to support the “green” energy sector.