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EY Ukraine advised Sarantis on acquisition of Ergopack

18/ 05/ 2018
  KYIV, 18 MAY 2018. EY Ukraine advised Sarantis Group in connection with its acquisition of 90% of shares in Ergopack Group from Horizon Capital and the founders of the business. EYs multidisciplinary team conducted legal, tax and financial due diligence on the target companies. EY also acted as a legal counsel to the buyer, participated in preparation of the transaction documents and in negotiations, advised on tax aspects of the transaction, and provided legal support in the course of its completion. Furthermore, EY provided support to the client in connection with obtaining the relevant clearances from the antitrust authorities. Sarantis is one of the leading European consumer product companies headquartered in Athens, Greece and listed on the Athens Stock Exchange. It offers a wide range of products in such categories as fragrances & cosmetics, personal care, health & care and everyday household products. Ergopack is a leading player in the growing Ukrainian household goods market that produces plastic bags, food packaging and cleaning items, with approximately US$29 million in sales in 2017. Horizon Capital is a leading private equity firm in Ukraine backed by over 40 institutional investors, managing four funds with assets under management of over US$750 million. According to Sarantis, the acquisition was in line with Sarantis Groups strategic growth plan and marks the groups entrance in the Ukrainian market, which Sarantis considers a new promising territory. EY Ukraine’s legal team was led by Bogdan Malnev, Senior Associate under the supervision of Albert Sych, Partner, Law Leader for Ukraine, and with support from Vitalii Pustovyi, Senior Associate, and associates Daria Tkachenko and Andrii Moskaliuk. EY Ukraine’s financial due diligence team was led by Larysa Marchenko, Partner, Transaction Support Leader, with support from Tetyana Voytovych, Manager. Vladimir Kotenko, Partner, Head of Tax & Law, and Sergiy Apolonov, Senior Manager, handled the tax aspects of the transaction. EY Russia also provided support in connection with the Russian aspects of the transaction. “We are extremely happy to have acted as legal counsel, as well as financial and tax advisor to Sarantis in this landmark transaction. This is one of the first large-scale foreign origin investments into Ukrainian production business after the most recent economic crisis”, commented Albert Sych, Partner, Law Leader for Ukraine. “We believe the integrated approach offered by our legal, financial and tax teams in several jurisdictions is the perfect match for such sophisticated transactions”, added Bogdan Malnev, Senior Associate, Law, EY Ukraine. –– About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. Contacts Olga Danchenkova, Senior PR Specialist, EY Ukraine +380 (44) 490 30 00, +380 (67) 659 56 59 Olga.Danchenkova@ua.ey.com  

KYIV, 18 MAY 2018. EY Ukraine advised Sarantis Group in connection with its acquisition of 90% of shares in Ergopack Group from Horizon Capital and the founders of the business.

EY’s multidisciplinary team conducted legal, tax and financial due diligence on the target companies. EY also acted as a legal counsel to the buyer, participated in preparation of the transaction documents and in negotiations, advised on tax aspects of the transaction, and provided legal support in the course of its completion. Furthermore, EY provided support to the client in connection with obtaining the relevant clearances from the antitrust authorities.

Sarantis is one of the leading European consumer product companies headquartered in Athens, Greece and listed on the Athens Stock Exchange. It offers a wide range of products in such categories as fragrances & cosmetics, personal care, health & care and everyday household products.

Ergopack is a leading player in the growing Ukrainian household goods market that produces plastic bags, food packaging and cleaning items, with approximately US$29 million in sales in 2017.

Horizon Capital is a leading private equity firm in Ukraine backed by over 40 institutional investors, managing four funds with assets under management of over US$750 million.

According to Sarantis, the acquisition was in line with Sarantis Group’s strategic growth plan and marks the group’s entrance in the Ukrainian market, which Sarantis considers a “new promising territory”.

EY Ukraine’s legal team was led by Bogdan Malnev, Senior Associate under the supervision of Albert Sych, Partner, Law Leader for Ukraine, and with support from Vitalii Pustovyi, Senior Associate, and associates Daria Tkachenko and Andrii Moskaliuk.

EY Ukraine’s financial due diligence team was led by Larysa Marchenko, Partner, Transaction Support Leader, with support from Tetyana Voytovych, Manager.

Vladimir Kotenko, Partner, Head of Tax & Law, and Sergiy Apolonov, Senior Manager, handled the tax aspects of the transaction.

EY Russia also provided support in connection with the Russian aspects of the transaction.

We are extremely happy to have acted as legal counsel, as well as financial and tax advisor to Sarantis in this landmark transaction. This is one of the first large-scale foreign origin investments into Ukrainian production business after the most recent economic crisis”, commented Albert Sych, Partner, Law Leader for Ukraine.

“We believe the integrated approach offered by our legal, financial and tax teams in several jurisdictions is the perfect match for such sophisticated transactions”, added Bogdan Malnev, Senior Associate, Law, EY Ukraine.

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About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

Contacts

Olga Danchenkova, Senior PR Specialist, EY Ukraine

+380 (44) 490 30 00, +380 (67) 659 56 59

Olga.Danchenkova@ua.ey.com

 

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