Everlegal has advised UDP Renewables on its investment agreement with Nebras Power, a global power development and investment company headquartered in Doha, Qatar. Redcliffe Partners advised Nebras Power on the deal.

For our Checking In feature, we reach out to partners and heads of practice across CEE to learn how specific practice areas are faring in their jurisdictions. This time around we asked Tax experts: What are the most important changes to the Tax laws in your country since January 2020 and what has their impact been? 

The former Chairman of the Anti-Monopoly Committee of Ukraine, Yuriy Terentyev, has joined Redcliffe Partners.

Former Mriya Agroholding Chief Legal Counsel Sergiy Ignatovsky has joined Redcliffe Partners as a Partner within the firm’s Litigation and Restructuring practices.

The Ukrainian Government continues to develop and adopt the gaming laws which are necessary to relaunch the Ukrainian gaming market.

Redcliffe Partners has advised US investors Aspect Energy and SigmaBleyzer — acting jointly through a special-purpose vehicle, Ukrainian Energy, L.L.C. — on an oil & gas production sharing agreement with the Republic of Ukraine. DLA Piper reportedly advised the Republic of Ukraine on the transaction.

In the first decade after the fall of the Berlin Wall in 1989, an enormous number of international investors descended upon the countries of Central and Eastern Europe – initially, and particularly, Romania and the so-called “Visegrad Group” of Poland, the Czech Republic, Slovakia, and Hungary – to take advantage of the privatizations occurring across the region and, in the early years, manifold new and giant deals related to the region’s rapid modernization and integration. Inevitably, many of the larger London-based international law firms opened up offices in the region to provide their clients with on-the-ground assistance.

Ukraine local elections, held on October 25, 2020, resulted in a setback for the country’s President, Volodymyr Zelensky, whose party did not secure a single mayoral position in any of the major cities. This did not surprise Dmytro Fedoruk, Partner at Redcliffe Partners in Kyiv, who notes that Zelensky “was not elected for his experience, but rather for his good intentions.” 

Redcliffe Partners and Clifford Chance have advised ED & F Man Treasury Management plc, the treasury management arm of ED & F Man, a UK-based international commodities trader, on Ukrainian law aspects on the refinancing and restructuring of nearly USD 1.5 billion of debt and raising an extra USD 320 million in working capital. Allen & Overy and Akin Gump Strauss Hauer & Feld advised the scheme creditors and note-holders, respectively, and Asters advised the unidentified lenders on Ukrainian law aspects of the deal.

Redcliffe Partners has advised Ukrainian HR tech product manufacturer Hurma System on seed financing from the European venture capital firm Pragmatech Ventures.

On July 23, 2020, CEE Legal Matters reported that Redcliffe Partners had advised the EBRD on an up to EUR 25 million term loan to Ukrainian State Air Traffic Services Enterprise. We reached out to Konstantin Olefirenko, Principal Legal Counsel at the EBRD, to learn more about the deal.

Svitlana Teush has been promoted to partner at Redcliffe Partners in Kyiv.

Redcliffe Partners has advised the YayPay financial technology company on the EUR 17 million sale of a majority stake in the company to Quadient. The buyer was advised by CMS RRH Kyiv.

Redcliffe Partners has advised the EBRD on a USD 27 million short-term secured loan to Nibulon LLC, a Ukrainian agricultural company.

Investigations Into Price Hikes and Other Responses by the Ukrainian Competition Authority to the COVID-19 Crisis

Ukrainian renewable energy lawyer Svitlana Teush takes a look at the law which will define the cuts to be applied in Ukraine after extensive negotiation between government and the clean energy industry.

Redcliffe Partners has helped Saudi Basic Industries Corporation obtain merger clearance from the Ukrainian competition authority for the USD 69.1 billion sale of 70% of its shares by the Public Investment Fund of Saudi Arabia – the sovereign wealth fund of the Kingdom of Saudi Arabia – to the Saudi Arabian Oil Company. 

Redcliffe Partners has advised the EBRD on an up to EUR 25 million term loan to be provided to Ukrainian State Air Traffic Services Enterprise for working capital needs.

Investigations Into Price Hikes and Other Responses by the Ukrainian Competition Authority to the COVID-19 Crisis

The Ukrainian government’s conference rooms have been stuffier than usual lately, as policymakers and renewable energy industry representatives attempted to thrash out a compromise to reduce the financial burden left on the administration by a feed-in tariff incentive regime which drove almost 2 GW of generation capacity. The resulting retroactive cuts to payments, outlined below by Ukraine-based lawyer Svitlana Teush, have at least had input from both sides.