Avellum has acted as Ukrainian legal counsel to the EBRD in connection with an up-to EUR 50 million loan to Communal Enterprise “Kyivskiy Metropolitan” that was guaranteed by the Kyiv City Council. Aequo advised the borrowers on the deal.

Sayenko Kharenko had advised Horizon Capital on the sale by its Emerging Europe Growth Fund III, LP of a minority stake in Dobrobut to the company's existing shareholders: Dobrobut Managing Shareholder and CEO Oleg Kalashnikov, and Concorde Capital. Avellum advised the shareholders on the deal.

On December 15, 2020 CEELM gathered legal experts from across the region for its annual Year-in-Review Round Table conversation. In a wide-ranging discussion, participants shared opinions and perspectives on their markets, on strong (and less-strong) practices across the region, and the effect of the COVID-19 crisis on both, as well as on how technology is changing the legal industry, and what the industry will look like in 2021.

Avellum has successfully defended the interests of PJSC A/T B.A.T.-Prilucky Tobacco Company — the Ukrainian subsidiary of British American Tobacco — in a dispute against the Antimonopoly Committee of Ukraine. The case was brought before the Northern Commercial Court of Appeal in Kyiv.

Avellum has helped Ukrainian supermarket chain Furshet obtain merger control clearance from the Antimonopoly Committee of Ukraine for the acquisition by the Fozzy Group of control over Furshet’s retail assets.

At the beginning of 2021, the Government of Ukraine published its decision No. 1581-p, dated 16 December 2020, on approval of the list of 102 investment projects prioritised by the State for 2021 – 2023 in such fields as culture and tourism, industry and manufacturing, energy, healthcare, transport, and sports. 76 out of 102 projects may be financed by investors, 47 of which – using a public-private partnership, including the concession framework.

Avellum has helped Samoran Investments Limited, a company affiliated with Yakov Gribov, a beneficiary of the Nemiroff Group, obtain merger control clearance from the Antimonopoly Committee of Ukraine for the acquisition of shares in Rostok Agroinvest Limited.

Avellum has celebrated the new year by announcing the return of co-founding Partner Kostiantyn Likarchuk and the promotion to Partner of Maksym Maksymenko.

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.

Avellum has advised Ukreximbank, the state export-import bank of Ukraine, and Goldman Sachs International as dealer manager, on a USD 316 million cash tender offer. 

Sayenko Kharenko and Latham & Watkins have advised joint lead managers Credit Agricole, J.P. Morgan, and Natixis on the USD 300 million 7-year 6.75 percent Eurobond issue by Kernel. The issuance was coupled with a tender offer to the holders of Kernel’s existing USD 500 million 5-year 8.75 percent Eurobond due in 2022. Avellum advised Kernel on Ukrainian aspects of the issuance, with Linklaters reportedly advising on matters of English and US law, Arendt & Medernach on Luxembourg law, and Borel & Barbey on Swiss law. 

Avellum has helped LVN Limited obtain clearance from the Antimonopoly Committee of Ukraine for the privatization of a part of assets of Ukrspyrt – Ukraine’s state-owned producer of alcohol and liquor.

Last week, the Antimonopoly Committee of Ukraine commenced a public discussion of strategic changes to Ukrainian competition law.

Sayenko Kharenko and Linklaters have advised joint bookrunners Deutsche Bank, Natixis, IMI Intesa Sanpaolo, and Raiffeisen Bank International on Metinvest's new USD 333 million Eurobond issue. Allen & Overy and Avellum advised Metinvest.

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 most recent improvements in the business climate.

In August 2020 the new laws introducing amendments to trademark and patent legislation (the “New Laws”) came into force. These changes concern patent and trademark owners, and producers of pharmaceuticals in particular.

Avellum has advised the Ukrainian Ministry of Finance in connection with a new macro-financial assistance program from the European Union.

Sayenko Kharenko has advised J.P. Morgan on the purchase of the USD 329 million Eurobond tap issue by Ukraine. Avellum advised Ukraine’s Ministry of Finance.