Sayenko Kharenko advises Orexim Group (Orexim), a major Ukrainian logistics group, on the sale of a controlling stake in its grain terminal business to Posco Daewoo Corporation (the Transaction), a major trading company of Korea’s steelmaker, Posco (PDC) and the establishment of a joint venture over the business.
Under the terms of the Transaction, Posco Daewoo will acquire a 75% stake in the grain terminal located at one of Ukraine’s largest seaports in Mykolaiv. After scheduled completion of construction in July 2019, the terminal will have the annual handling capacity of circa 2.5 million tons of grain, handling mostly corn, wheat and soybeans. As a result of the Transaction, PDC will become the first Korean entity holding operating rights to a grain storage facility overseas.
Sayenko Kharenko provided full-scope legal support for the Transaction, including advising on commercial and corporate law matters, transaction structuring, drafting and negotiating of transaction documents.
Orexim is engaged in export of agricultural products as well as providing port and logistics services. Starting as a small trading company in 2004, Orexim has developed into a large entity with over 1,000 employees. During the period of its development, Orexim has invested more than 100 million dollars into assets.
PDC is Korea’s largest trading company with a market cap of approximately USD 211.5 billion and employing around 9,000 employees all over the world.
Sayenko Kharenko’s team included associate Ilhar Hakhramanov and junior associates Sviatoslav Kozak and Angelina Danyleiko, and was led by partner Oleksandr Nikolaichyk.