Eversheds Sutherland has advised the Foreign Expansion Fund 2 FIZAN of Polski Fundusz Rozwoju on debt financing to Euvic for the acquisition of stakes in five companies operating in the IT sector in Lviv, Kyiv, Kharkiv, and Vinnytsia.

Dentons has advised Guris on the connection of its solar power plant to the connection grid of its wind farm in Ukraine.

Avellum has advised Ukrnafta on obtaining approval from the Antimonopoly Committee of Ukraine for the acquisition of Shell’s Ukrainian business – a network of petrol stations.

Sayenko Kharenko has advised the Export and Investment Fund of Denmark and additional banks on a EUR 370 million project finance facility for the expansion of DTEK’s Tyligulska wind farm. 

Integrites has advised German-French defense contractor KNDS on a joint venture with a Ukrainian partner to maintain, refurbish, and overhaul Gepard self-propelled air defense systems.

Sayenko Kharenko has provided pro bono support for a cultural initiative that aims to set war-time poems, written by Ukrainian defenders, to music. 

A new law that will significantly improve the grid connection of renewables was approved by the Ukraine’s parliament, the Verkhovna Rada, on January 14, 2025.

In 2024, the financial market in Ukraine has remained resilient and stable even though the Russian full-scale military aggression against Ukraine approaches its third anniversary. This has been possible due to the continuing financial support coming from Ukraine’s allies and international donors. Notably, G7 leaders have recently announced a USD 50 billion lending package for Ukraine to be repaid with revenues from Russian frozen assets.

Simplifying access to financing for farmers can increase the productivity and profitability of the industry, allowing producers and processors of agricultural products to invest in the latest technologies and innovative solutions, enhancing efficiency.

The past year has demonstrated that an ongoing conflict is not an obstacle to development and investment. Despite infrastructure being targeted by shelling, Ukraine’s real GDP grew by 4% in the first nine months of 2024, with expectations that this figure will reach 4.3-4.6% in the coming years. To maintain this growth, Ukraine must actively engage private investments to rebuild its damaged infrastructure and assets.

As Ukraine continues to resist the Russian Federation’s invasion, its M&A market in 2024 demonstrates both resilience and adaptability. While the early months of the full-scale war in 2022 likely represented an all-time low for dealmaking, today’s landscape appears far more dynamic. Although reaching and surpassing pre-war levels of activity will take time, the market is showing clear signs of recovery.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. This time around we turn our attention to setting up new practices and ask: When launching a new practice, what is your go-to strategy – do you look at internal team members to spearhead it, or are you more likely to turn to lateral hires? Why?

Keeping employees motivated and engaged, and retaining the brightest talent can be an effortful task for businesses. Employers agree that fixed net income and mere compliance with basic employment standards are not sufficient and, thus, promote incentive programs as a recognized instrument to navigate this challenge. While worldwide trends in incentivizing employees are similar, each country has developed a set of its own legislative rules and market practices – and Ukraine is no exception.

The Ukrainian parliament recently adopted Law of Ukraine No. 4116-IX[1] to combat gambling addiction (ludomania) and to improve the state regulation of activities related to the organisation and conduct of gambling and lotteries. Most of the amendments will come into force on 1 April 2025.

Sayenko Kharenko has advised Trimble on obtaining merger clearance for its joint venture with AGCO.

Avellum has promoted Former Counsel Oleksii Maslov to Partner in the firm’s Dispute Resolution practice, focusing on International Arbitration.

On 19 December 2024, Ukraine experienced one of the largest cyberattacks on its public registers launched by the Russian Federation. Among the many targeted registers was the State Register of Property Rights to Real Estate ("Real Estate Register").