NEWS (November 28, 2014)

Baker & McKenzie advised Siemens Ukraine

Kiev office of Baker & McKenzie acted as Ukrainian legal counsel to Siemens Ukraine on matters relating to forming the joint venture of Siemens and Mitsubishi Heavy Industries in the metals technologies business. The implementation of the joint venture involved the carve out of the metals business of Siemens Ukraine into a new Ukrainian Limited Liability Company SIEMENS VAI Metals Technologies and relevant regulatory advice.Siemens and Mitsubishi Heavy Industries (MHI) are forming a globally operating complete provider for plants, products and services for the iron, steel and aluminum industry to cooperate in the field of metallurgical industry. According to the agreement between Siemens and MHI, MHI will hold a 51% and Siemens a 49% stake in the joint venture. The joint venture will start operations in January 2015. Both partners are contributing their metallurgical industry activities to the joint venture. The company's headquarters will be located in the United Kingdom.

The Baker & McKenzie team of the Kiev office was led by partner Ihor Olekhov with the input from associates Hanna Shtepa and Victoria Ischenko.

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