AVELLUM advises on acquisition of 33% stake in Ocean Plaza by UDP
AVELLUM acted as the legal counsel to UDP, a leading Ukrainian development company, on the acquisition of a 33.35% stake in Ocean Plaza, one of the largest shopping and entertainment centres in Ukraine and Europe.
AVELLUM provided full legal support to the client in structuring the transaction, negotiating and signing the transaction documents, as well as in the completion of the transaction. AVELLUM team was led by partner Yuriy Nechayev, with support from associates Yuliia Chelebii-Kravchenko and Yelyzaveta Kashyna.
Yuriy Nechayev, AVELLUM’s partner, commented on the transaction: “While assisting our clients with the most significant M&A deals on the Ukrainian market, our team always finds individual legal solutions for protecting our clients’ business interests and structuring the transactions. This transaction once again confirms our high standards of work and deep expertise in M&A.”
Being the joint project of UDP and KAN Development, Ocean Plaza was opened and sold by partners in 2012. Back then, AVELLUM also advised the sellers on the sale. Currently, Ocean Plaza has a leasable area of 72,000 square meters and is one of the most popular and successful shopping and entertainment centres in Ukraine.
UDP is a leading Ukrainian real estate investment and development company that specialises in large infrastructure projects. During its almost 20-year presence on the Ukrainian real estate market, UDP has successfully implemented nearly 20 projects with the aggregate investments of USD900 million. UDP’s shareholders are UFuture, a holding company, and Quarter Partners, a private investment fund.