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30 March 2011

Sayenko Kharenko advised on acquisition of XXI Century

Sayenko Kharenko acted as Ukrainian legal counsel to Renaissance Group on acquisition of a majority stake in XXI Century.

XXI Century underwent the financial restructuring by raising USD 20 million via the issue of shares to Ovaro Holding Limited, a joint venture between Renaissance Group and Bremille Investments Limited, owned by Oleg Salmin.

Renaissance Group offers unparalleled financial, investment and management expertise in high-opportunity emerging markets around the world. Renaissance Capital is the leading independent investment bank operating in Central & Eastern Europe, Africa, Central Asia and other high-opportunity Frontier markets.

XXI Century is an LSE AIM-listed leading Ukrainian real estate development and property management company founded in 1999. It develops and manages a number of real estate projects, including Kvadrat shopping centers, offices, hotels, logistics centers and residential properties at different stages of development in Kyiv and throughout Ukraine.

Sayenko Kharenko’s team for this transaction was led by partner Vladimir Sayenko and included counsel Vitaly Kravchenko and associates Julia Gubareva, Ivan Komakha, Olga Atamanchuk, Igor Lozenko, Anton Korobeynikov and Oleksandr Nikolaichyk.

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