Deals

Redcliffe Partners advised on extension of secured facility to Kernel

Redcliffe Partners acted as Ukrainian legal counsel to a security trustee, Natixis, that represents a group of lenders on the extension of a USD 215 million secured facility to Kernel, a leading agricultural company in the Black Sea region. Redcliffe advised on transaction and security documents and the mandatory requirements under EU law from a Ukrainian law perspective. Redcliffe’s team included Olexiy Soshenko, managing partner, Olesia Mykhailenko, and Anatoliy Doludenko, junior associates.

AVELLUM advised Allergan Inc

AVELLUM advised Allergan Inc in connection with the divestiture of its global generic pharmaceuticals business to Teva Pharmaceutical Industries Ltd through a complex cross-border carve-out. Latham & Watkins LLP acted as global employment counsel to Allergan Inc, and Cleary Gottlieb Steen & Hamilton LLP acted as global corporate counsel to Allergan Inc., while AVELLUM advised on Ukrainian law matters, such as corporate, employment, personal data, and tax matters. This is one of the largest M&A deals in the global pharmaceutical market, with a total value of approximately USD 40.5 billion. The AVELLUM team was led by the managing partner, Mykola Stetsenko, with significant support from associates Yuriy Zaremba and Andriy Gumenchuk, on corporate, employment, and personal data matters, and senior associate Vadim Medvedev on tax matters.

Asters advised International Finance Corporation

Asters acted as a local transaction counsel to the International Finance Corporation (IFC), a member of the World Bank Group, in connection with a USD 25 million working capital loan to Astarta, one of the largest agricultural producers in Ukraine.

This investment will help Astarta to purchase crops from local farmers during the harvest season, when the availability of crops is at its peak and prices are normally their lowest, thereby allowing Astarta to attain a sustainable supply of raw materials for processing and limit its margin volatility.

Asters’ banking and finance team advising on the project consisted of partner Iryna Pokanay, counsel Gabriel Aslanian, and associate Inna Bondarenko.

AEQUO — legal counsel to EBRD

AEQUO has advised the European Bank for Reconstruction and Development (EBRD) on Ukrainian law matters related to its granting of a USD 20 million loan to Astarta Group, Ukraine’s leading agribusiness operator and sugar producer. The proceeds of the loan will be utilized for modernization and improvement of energy efficiency of Astarta’s sugar processing plants. Aequo lawyers developed the transaction structure, assisted with drafting and execution of financing documentation and issued a legal opinion for the benefit of the EBRD. Aequo project team included senior associates Yevgen Blok and Denys Kulgavyi, who worked under the general supervision of Yulia Kyrpa, partner and head of the banking and finance practice group.