According to many commentators, Asters has had a quiet year relative to its standing in tier two. "Asters, I haven't seen them....
[more]
According to many commentators, Asters has had a quiet year relative to its standing in tier two. "Asters, I haven't seen them. They're not visible," one partner says. "I don't see them [Asters] a lot when Sayenko is involved," another partner says. Nevertheless, yet another partner says: "International law firms are knocking down local firms. Germany is overrepresented for existing work for German players. International investors go to international law firms [and] Asters get international clients."
When looking at Aster's deal list from the last twelve months, it becomes apparent that the latter statement is closer to the truth. The firm continues to attract some interesting mandates and has been doing much work for international finance institutions. "They mix with international financial institutions than with any others," says one competitor. In this capacity the firm has represented the European Bank for Reconstruction & Development (EBRD) and the International Finance Corporation (IFC).
The firm was involved in Ukraine's first non-financial corporate sector Eurobond issue in 2011. The firm advised Bank of America, Merrill Lynch, RBS, UBS Investment Bank and Dragon Capital on $250 million Eurobond debut issues by MRIYA Agro Holding, one of the leading agricultural groups in Ukraine. Additionally, the firm advised Sberbank on a $700 million syndicated financing to Metinvest, the largest metals manufacturing holding in Ukraine. This was one of the largest loan facilities to be secured by a Ukrainian private business since the start of the financial crisis. The firm also advised key client the EBRD in relation to a ten-year $140 million subordinated loan to UkrSibbank, a subsidiary of BNP Paribas Group. The loan boosts the liquidity of a significant financial institution in Ukraine.
[hide]
With the corporate and business law practice group led by Oleksandr Padalka, Asters is another strong domestic firm that consolidates its position in the second tier. Most of the firm's M&A work has an international component to it....
[more]
With the corporate and business law practice group led by Oleksandr Padalka, Asters is another strong domestic firm that consolidates its position in the second tier. Most of the firm's M&A work has an international component to it. It has a particular penchant for the acquisition of Ukrainian banks by foreign financial institutions and also serves international companies in its acquisition of Ukrainian assets. The M&A practice is also praised. "Asters are good at M&A," one partner says.
In private equity, the firm advised ISIDA-IVF, a Ukrainian obstetric-gynecological clinic, and its shareholders on the sale of a majority stake to Advent International, one of the biggest global private equity funds. Furthermore, the firm advised Swedbank in regard to the merger of its Ukrainian subsidiaries Swedbank (public) and Swedbank Invest (private). This was the first deal under the new law 'On Joint Stock Companies' and started the broader process of consolidation of banking assets in Ukraine. The firm also advised Telenor in connection with its $24 billion transaction with Alfa Group of Russia. This involved the merger of assets between the Russian mobile telecom operator VimpelCom (Beeline brand) and the leading Ukrainian mobile telecom operator Kyivstar resulting in the establishment of a new telecom operator VimpelCom.
[hide]