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Vasil Kisil & Partners advise Arcona on acquiring Ukrainian assets of SPDI

23/ 06/ 2021
  On 14 June 2021 Arcona Property Fund N.V. has announced the signing of purchase agreements with Secure Property Development & Investments Ltd (SPDI) for the acquisition of SPDI´s two development sites in the Kiev region of Ukraine, with a total value of € 1.8 million. This is the second phase of the three-phase acquisition of SPDI´s property portfolio in Eastern and Southeastern Europe. The estimated value of the whole second stage which also includes Romanian assets is €8.2 million. The purchases should be completed in the second half of 2021. Arcona Property Fund N.V. will acquire the second phase assets by issuing to SPDI its shares and warrants which can be converted into the Funds shares if they reach certain price level. The shares will be admitted to listing at Euronext Amsterdam Stock Exchange. SPDI will also provide a sellers loan of €1 million. Vasil Kisil & Partners acts as a sole legal advisor to Arcona on all Ukrainian law matters during all stages of the transaction, including the sites due diligence, transaction structuring and tax planning, drafting and negotiating a set of share and asset purchase, debt assignment and novation and other agreements as well as all other acquisition documents, checking performance of the conditions and assistance with assets transfer, etc. Vasil Kisil & Partners’ real estate team, including Alexander Borodkin, partner, Tetiana Revutska, senior associate, and Ivanna Rodionova, associate, advise on the deal. Arcona is the Netherland independent owner-managed real estate fund and asset manager, active across Northern and Central Europe. Arcona is listed on Euronext Amsterdam and the Prague Stock Exchange. Arcona is currently responsible for over € 645 million of real estate and financial assets on behalf of both private and institutional clients across 7 European countries. SPDI is a London listed property company focused on emerging Europe. # # # For more details please contact Olga Shevchenko, PR Manager Tel.: +380 67 358 47 82 E-mail: shevchenko@vkp.ua About the Firm Established in 1992, Vasil Kisil & Partners is a Ukrainian law firm that delivers integrated legal advice in banking & finance, mergers & acquisitions, capital markets, antitrust, competition and trade, dispute resolution, white collar crime, tax law, energy and natural resources law, intellectual property law, labor and employment law, real estate and construction law, as well as PPP, concessions and infrastructure law. Vasil Kisil & Partners is a member and exclusively represents Ukraine in such international professional associations as TerraLex (160 law firms in 100 countries), Cathay Associates (40 high-profile law firms with over 500 headcount worldwide in 43 major cities and countries across Europe and Asia) and Ius Laboris (1700 labor and employment lawyers in 50 countries). Andriy Stelmashchuk is a managing partner of Vasil Kisil & Partners law firm.

On 14 June 2021 Arcona Property Fund N.V. has announced the signing of purchase agreements with Secure Property Development & Investments Ltd (SPDI) for the acquisition of SPDI´s two development sites in the Kiev region of Ukraine, with a total value of € 1.8 million. This is the second phase of the three-phase acquisition of SPDI´s property portfolio in Eastern and Southeastern Europe.

The estimated value of the whole second stage which also includes Romanian assets is €8.2 million. The purchases should be completed in the second half of 2021.

Arcona Property Fund N.V. will acquire the second phase assets by issuing to SPDI its shares and warrants which can be converted into the Fund’s shares if they reach certain price level. The shares will be admitted to listing at Euronext Amsterdam Stock Exchange. SPDI will also provide a seller’s loan of €1 million.

Vasil Kisil & Partners acts as a sole legal advisor to Arcona on all Ukrainian law matters during all stages of the transaction, including the sites’ due diligence, transaction structuring and tax planning, drafting and negotiating a set of share and asset purchase, debt assignment and novation and other agreements as well as all other acquisition documents, checking performance of the conditions and assistance with assets transfer, etc.

Vasil Kisil & Partners’ real estate team, including Alexander Borodkin, partner, Tetiana Revutska, senior associate, and Ivanna Rodionova, associate, advise on the deal.

Arcona is the Netherland independent owner-managed real estate fund and asset manager, active across Northern and Central Europe. Arcona is listed on Euronext Amsterdam and the Prague Stock Exchange. Arcona is currently responsible for over € 645 million of real estate and financial assets on behalf of both private and institutional clients across 7 European countries.

SPDI is a London listed property company focused on emerging Europe.

# # #

For more details please contact Olga Shevchenko, PR Manager
Tel.: +380 67 358 47 82

E-mail: shevchenko@vkp.ua

About the Firm

Established in 1992, Vasil Kisil & Partners is a Ukrainian law firm that delivers integrated legal advice in banking & finance, mergers & acquisitions, capital markets, antitrust, competition and trade, dispute resolution, white collar crime, tax law, energy and natural resources law, intellectual property law, labor and employment law, real estate and construction law, as well as PPP, concessions and infrastructure law. Vasil Kisil & Partners is a member and exclusively represents Ukraine in such international professional associations as TerraLex (160 law firms in 100 countries), Cathay Associates (40 high-profile law firms with over 500 headcount worldwide in 43 major cities and countries across Europe and Asia) and Ius Laboris (1700 labor and employment lawyers in 50 countries). Andriy Stelmashchuk is a managing partner of Vasil Kisil & Partners law firm.

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