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CMS advises NAFTA on acquisition of remaining stake in Uzhhorod gas field in Western Ukraine

22/ 12/ 2021
  CMS Cameron McKenna Nabarro Olswang in Ukraine has advised NAFTA International B.V. (NAFTA), a Slovak oil and gas exploration, production and gas storage company, on the buyout of its joint venture partner, Cub Energy Inc., to become the owner of 100% of the Ukrainian company which holds a licence for the exploration and production of hydrocarbons near Uzhhorod, Ukraine. The Uzhhorod License, covering 300 square kilometres, is a geological continuation of much-explored areas in eastern Slovakia and is on trend with discoveries in Slovakia. CMS advised NAFTA on all aspects of the buyout transaction, including drafting and negotiating the transaction documents and assisting with closing and merger clearance. CMS previously advised NAFTA on its joint venture with Cub Energy Inc. and acquisition of a 50% stake in CNG Holdings Netherlands B.V. Vitaliy Radchenko, Head of Energy & Projects at CMS in Kyiv, comments: “We are pleased to have supported NAFTA on this yet another important transaction, helping to expand their project portfolio in Ukraine, as well as development activities and investments in Uzhhorod project. This deal further illustrates CMS’s pre-eminence for key energy transactions in Ukraine and across Central and Eastern Europe.” The CMS team was led by partners Vitaliy Radchenko (Energy & Projects), Tetyana Dovgan (Corporate M&A), and Olga Belyakova (Competition), with support from Louise Çakar, Mariana Saienko, Ihor Pavliukov, Denys Hatseniuk, Mykola Heletiy, Oleksandr Sytnyk, Anatolii Doludenko, Ivan Pshyk, William Anderson and Rory Thomson. -END-  For further information, please contact: Darina Gordienko E: darina.gordienko@cms-cmno.com Notes to editors: Founded in 1999, CMS is an integrated, multi-jurisdictional organisation of law firms that offers full-service legal and tax advice. With more than 70 offices in over 40 countries across the world and more than 5,000 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets. The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Infrastructure & Projects, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Competition & EU, Dispute Resolution, Employment & Pensions, Intellectual Property and Real Estate. For more information, please visit cms.law

CMS Cameron McKenna Nabarro Olswang in Ukraine has advised NAFTA International B.V. (NAFTA), a Slovak oil and gas exploration, production and gas storage company, on the buyout of its joint venture partner, Cub Energy Inc., to become the owner of 100% of the Ukrainian company which holds a licence for the exploration and production of hydrocarbons near Uzhhorod, Ukraine.

The Uzhhorod License, covering 300 square kilometres, is a geological continuation of much-explored areas in eastern Slovakia and is on trend with discoveries in Slovakia.

CMS advised NAFTA on all aspects of the buyout transaction, including drafting and negotiating the transaction documents and assisting with closing and merger clearance. CMS previously advised NAFTA on its joint venture with Cub Energy Inc. and acquisition of a 50% stake in CNG Holdings Netherlands B.V.

Vitaliy Radchenko, Head of Energy & Projects at CMS in Kyiv, comments: “We are pleased to have supported NAFTA on this yet another important transaction, helping to expand their project portfolio in Ukraine, as well as development activities and investments in Uzhhorod project. This deal further illustrates CMS’s pre-eminence for key energy transactions in Ukraine and across Central and Eastern Europe.”

The CMS team was led by partners Vitaliy Radchenko (Energy & Projects), Tetyana Dovgan (Corporate M&A), and Olga Belyakova (Competition), with support from Louise Çakar, Mariana Saienko, Ihor Pavliukov, Denys Hatseniuk, Mykola Heletiy, Oleksandr Sytnyk, Anatolii Doludenko, Ivan Pshyk, William Anderson and Rory Thomson.

-END- 

For further information, please contact:

Darina Gordienko

E: darina.gordienko@cms-cmno.com

Notes to editors:

Founded in 1999, CMS is an integrated, multi-jurisdictional organisation of law firms that offers full-service legal and tax advice. With more than 70 offices in over 40 countries across the world and more than 5,000 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.

The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Infrastructure & Projects, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Competition & EU, Dispute Resolution, Employment & Pensions, Intellectual Property and Real Estate.

For more information, please visit cms.law

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