News (#7-8 July-August 2021)

Deals

EVERLEGAL acted as legal counsel for UDP Renewables

EVERLEGALs team has provided comprehensive legal support to UDP Renewables in the transaction with Nebras Power QSC regarding completion of the transfer of a controlling stake in a number of UDP Renewables operating solar power plants in Ukraine, namely: Scythia-Solar-1, Scythia-Solar-2, Free-Energy Henichesk, Terslav and Sun Power Pervomaisk. This Qatari company is becoming an active player on the Ukrainian renewable energy market.

EVERLEGALs team was led by partner and head of the energy practiceAndriy Olenyuk, together with the firms professional energy team consisting of managing partnerYevheniy Deyneko, senior associateYuliia Kylchynska, associatesOlha Horodniuk,Lidiia Vatutina, and Anna Haidai. The team provided comprehensive legal support to the client, including drafting and negotiating the documents for satisfying the conditions for the completion, drafting and negotiating of documents necessary for the transfer of a controlling stake to the purchaser, and providing legal advice on employment, banking, and regulatory matters.

CMS advised EBRD on financing for Kokhavynska Paper Factory

International law firm CMS has acted as English legal counsel to the European Bank for Reconstruction and Development in a EUR 13.8 million loan to the Kokhavynska Paper Factory (KPF), one of the largest producers of recycled paper and tissue.

Based in western Ukraine, KPF intends to use the financing to extend its product range, increase its production capacity, and improve its operating efficiency.

In addition, more than EUR 1 million will be allocated for the modernisation of a waste water filtering facility as well as to energy efficiency and climate adaptation measures.

The CMS team included Elitsa Ivanova, head of Finance at CMS Sofia, Ihor Olekhov, head of Banking & Finance at CMS Kyiv, Orest Matviychuk, senior associate and Katerina Hristova, associate.

Horizon Capital and Datagroup acquired Volia group of companies

Kyiv-based CMS Cameron McKenna Nabarro Olswang has advised Horizon Capital and Datagroup on its acquisition of the Volia group of companies.

Kinstellars Kyiv office has acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development

The deal was signed in November 2020, and the CMS team advised on all English and Ukrainian law aspects of the deal, including on its structuring, the negotiation of the transaction documentation, and on securing and negotiating a local currency loan equivalent to USD 65 million from the European Bank for Reconstruction and Development.

Kinstellars team advised on a wide range of matters inherent in acquisition finance deals financial assistance, disbursement mechanics, enforcement against various assets (including future assets) and creation of second-ranking security.

The CMS team was led by Graham Conlon, supported by Louise Çakar on the corporate side, while counsel Kateryna Chechulina led on the acquisition financing side with support from Khrystyna Korpan. Other team members included Tetyana Dovgan, Olga Belyakova, Vitalii Mainarovych, Mariana Saienko, Ihor Pavliukov, Denys Hatseniuk, Iryna Kravchenko, Orest Matviichuk, Mykola Heletiy, David Cranfield and Nataliya Nakonechna.

Kinstellars team includedIryna Nikolayevska, partner, Oleg Matiusha,counsel, Anna Makedonska, Yulia Eismont, senior associates, Yulia Palaida, Diana Malysh, Mariana Antonovych,associates, andOlena Kandya, junior associate.

Asters advised BSTDB

Asters acted as a legal counsel to the Black Sea Trade and Development Bank in connection with its financing of up to USD 20 million to the group of companies, owning two shopping malls under the Araks brand in Kyiv.

The loan will support the modernisation and upgrading of the commercial property owned by the group and located in Kyiv and Khmelnytskyi substantially for the purpose of improving their energy efficiency and reducing energy consumption, as well as for refinancing the groups existing credit portfolio.

Asters team advising on the project consisted of partner Iryna Pokanay, counsel Gabriel Aslanian, and associates Inna Bondarenko and Viktoria Zagreba.

CMS and Kinstellar advised EBRD on funding for leading energy and gas trading company in Ukraine

CMS Cameron McKenna Nabarro Olswang and Kinstellars Kyiv office have advised the European Bank for Reconstruction and Development on a EUR 10 million two-year loan to ERU Trading LLC.

The funds will be used to support ERU Tradings growing gas trading operations, which secure low-cost gas from the European Union during the summer season which is then stored and sold in Ukraine. ERU Trading is the largest private importer of natural gas from Hungary, Poland and Slovakia into Ukraine.

The CMS team was led by Elitsa Ivanova, head of Finance at CMS Sofia, and Orest Matviychuk, senior associate, and included Ihor Olekhov, head of Banking & Finance at CMS Kyiv, and Ivan Pshyk, associate from CMS Kyiv.

Kinstellars team was led by Andriy Nikiforov, counsel, and also included Olena Kuchynska, co-managing partner, Anna Makedonska, senior associate, and Oleksandr Plachynta, associate.

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