On 17 July 2008 Panorama Group LLC signed an agreement to purchase a 40% participation interest in the registered capital of the company “REMITARH INTERNAСIONAL SOCIEDAD LIMITED”, Spain, which owns 100% of Private Trade and Manufacturing Unitary Enterprise "DunaBell", the Republic of Belorussia. Consequently, Panorama Group became a 40% participant in the development project of the shopping centre at Goretskogo St. in Minsk, of the total project area reaching 37 000 sq. m. and with the approximate retail area of 20 000 sq. m. DunaBell has already obtained the right to allot the 4.88 ha land plot for the purpose of developing the project. Panorama Group intends to extend financing and prospectively to acquire 88% participation in the project.

 Vasil Kisil & Partners act as sole legal advisors on the project and represent Panorama Group in all matters, covering also the structure of the transaction, elaboration of the effective project management mechanism, drafting the related contracts, consulting and advising on the international law issues, etc.

In advising on the project the attorneys of Vasil Kisil & Partners have developed the structure of the holding, coordinated the share purchase agreement, drafted the loan agreement, the surety agreement, the preliminary agreement on obtaining control over the project, conducted the negotiations, coordinated the conditions for further cooperation and provided other advice on the project. The attorneys of Vasil Kisil & Partners proceed with establishment of effective management structure for the project and drafting the framework agreement governing the partnership relations on development of the project.

The project is supported from the real estate practice of Vasil Kisil & Partners by senior associate Alexander Borodkin and junior associate Roman Shurduk acting under general supervision of VKP’s partner Oleksandr Khomenko.

Vasil Kisil & Partners is one of the leading and long-established law firms in Ukraine that has impeccable reputation, unique expertise and is providing top quality services to its clients.  Founded in 1992, the firm has assembled a talented team of 55 experienced and skilled lawyers dedicated to the highest level of service adhering to internationally accepted professional and ethical standards. Vasil Kisil & Partners provides legal support to both Ukrainian companies operating abroad as well as foreign and international corporations doing business in Ukraine.

For additional information, please, contact Tatyana Sabitova, PR & Communications Executive at:
Tel: +38 044 581-7777     Fax: +38 044 581-7770     sabitova@vkp.kiev.ua     www.kisilandpartners.com