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25 March 2021

Sayenko Kharenko advises Bel Group on disposal of its Ukrainian business to Lactalis

Sayenko Kharenko acts as the Ukrainian legal counsel to Bel Group with respect to disposal of PrJSC “Bel Shostka Ukraine” (“Bel Shostka”) to Lactalis Group. The transfer of the Bel Group’s Ukrainian assets takes place within a larger transaction under the terms of which Bel Group will divest Royal Bel Leerdammer NL, Bel Italia, Bel Deutschland, Leerdammer and Bel Shostka, in return for Lactalis’ 23.16 per cent shareholding in Bel Group (the “Transaction”).

Sayenko Kharenko advises Bel Group on complex corporate and tax law matters, structuring of Ukrainian part of the Transaction and obtaining merger clearance from the Antimonopoly Committee of Ukraine.

Linklaters (Paris) acts as Bel’s global counsel, while Lactalis is represented by Freshfields Bruckhaus Deringer (Paris) and Bredin Prat. BNP Paribas and Perella Weinberg Partners act as global financial advisors and Finpoint acts as the Ukrainian financial advisor to Bel Group.

Bel Group is the world leader in branded cheese and a major player in the healthy snack market. Its portfolio of internationally recognised brands include such products as The Laughing Cow®, Kiri®, Mini Babybel®, Leerdammer®, Boursin®, Pom’Potes® and GoGo squeeZ®, as well as around 20 local brands, which together helped Bel Group to generate sales of EUR 3.46 billion in 2020.

Lactalis Group is the world’s No. 1 dairy products supplier and a French family business founded in 1933 in Laval. Lactalis is known for such brands as Président, Galbani and Parmalat.

Sayenko Kharenko’s corporate and M&A team working on the project is led by associate Ilhar Hakhramanov with support from associates Mykola Lykhoglyad and Kostyantyn Zablotskyi under the supervision of partner Oleksandr Nikolaichyk. Antitrust team is led by partner Valentyna Hvozd and includes senior associate Anastasіa Bodnar and associate Kateryna Novodvorska. Senior associates Mykhailo Grynkevych, Anton Kerimov-Varanytskyi, and associate Alisa Yepanchyntseva advise on the tax matters under the supervision of partner Svitlana Musienko.

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