Avellum Partners аdvised Bayer AG on corporate, contractual and employment issues related to the global spin-off of Bayer MaterialScience AG, which now operates under Сovestro AG name as an independent entity.

This transaction is one of a few global business spin-offs, which affects Ukrainian market. Avellum Partners advised Bayer AG on structuring of transfer of the employees, appointment of CEO of the new Ukrainian entity, structuring of employment relations and advising on transfer of fringe benefits. Avellum also advised on issues related to transfer of contracts and assets and general corporate issues within this transaction.

Covestro AG is one of the world's largest producers of polymers and high-performance plastics. On 6 October 2015, Covestro AG has debuted on the Frankfurt Stock Exchange. This IPO is qualified as Germany’s largest IPO in more than eight years (the raised financing reached EUR1.5 billion) and the share price rose as much as 12.5% on the first day of trading.

Avellum Partners team working on this project was led by Managing Partner, Mykola Stetsenko, with significant support from Associates, Yuriy Zaremba and Andriy Gumenchuk.