Squire Sanders Advises on US$440 Million Acquisition of Nadra Bank

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    Squire, Sanders & Dempsey has advised Group DF on its $440 million acquisition of Nadra Bank.  Group DF is a private international group of companies whose interests and assets range from energy and chemicals through to financial services and real estate.

    Squire Sanders advised on debt restructuring and the purchase by Centragas Holding AG, part of Group DF, of a new stock issue by Nadra Bank, which was approximately 90 percent of the shares for 3.5 billion Ukrainian hryvnia.  Nadra Bank is Ukraine’s 11th largest bank, which has been under the management of the National Bank of Ukraine after going into administration in 2009. 

    The Squire Sanders team advising Group DF was led by London corporate partner Stephen Nelson, Kyiv corporate partner Peter Teluk and senior associate Olena Bilozor.

    Commenting on the deal, Teluk said: “We are happy to have served our long standing client on some of the largest deals in Ukraine over the past 12 months.  We have been involved in over $2.5 billion in acquisitions, intercompany restructuring and also billions of financing. This is in addition to assisting Group DF with multinational litigation and arbitration. We look forward to continuing to serve Group DF with anticipated continued acquisitions in 2011 and 2012, both in Ukraine and abroad.”

    Other deals completed over the past year by Squire Sanders for Group DF include the following chemical fertilizer acquisitions and related financings:

    (i) Closed Joint Stock Company “Severodonetsk Azot Association”; (ii) Open Joint Stock Company “Azot”; (iii) Open Joint Stock Company “Concern Stirol”; and (iv) Open Join Stock Company “Rivneazot”.

    Nicola Woodmass
    Head of Communications
    Squire, Sanders & Dempsey (UK) LLP

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