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18 November 2010

Sayenko Kharenko advised on the acquisition financing in relation to OJSC Stirol Concern

Sayenko Kharenko acted as a Ukrainian legal counsel on a multimillion loan to OstChem Investments Limited (part of Group DF). The loan was used to acquire Horlivka-based OJSC Stirol Concern, Ukraine’s largest producer of nitrogen mineral fertilizers, polyesters, medicines, and ammonia.

According to the statement by Group DF, Stirol's accession to the holding group will strengthen its positions on the foreign carbamide markets. The synergy will be achieved through the centralization of investment activity, the standartization of financial operations and reporting, the optimization of equipment and materials procurement, and the integration of repair, assembly and construction work.

Stirol Concern is one of Ukraine's top five chemical companies, and Ukraine’s largest producer of nitrogen mineral fertilizers, polyesters, medicines, and ammonia.

Group DF is a private international group of companies whose interests and assets range from energy and chemicals through to energy infrastructure and real estate. Some of the assets owned by the group in Ukraine include: OstChem Holding AG, CJSC Crimea Titan, OJSC Crimean Soda Plant, Irshansky GOK, Volnogorsky GOK, LLC Mezhurichia mining and others.

Sayenko Kharenko team involved in the transaction included partners Michael Kharenko, Nazar Chernyavsky and associates Anton Korobeynikov, Yuriy Draganchuk and Orest Matviychuk.

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