USUBC MEMBERS IN THE NEWS - EIGHT ARTICLES
1. UKRAINE'S MAGISTERS LAW FIRM MAKES BELARUS MERGER
The Lawyer.com, London, United Kingdom, Monday, December 8, 2008
2. HORIZON CAPITAL INVESTS $15 MILLION INTO UKRAINIAN FOOD RETAIL CHAIN 'FRESH'
Horizon Capital, Kyiv, Ukraine, Friday, October 3, 2008
3. ASTERS LAW FIRM ADVISES LEADING PHARMACEUTICAL COMPANY
TEVA ON UKRAINIAN MERGER CONTROL LAW RELATED TO ITS
PURCHASE OF U.S. COMPANY BARR PHARMACEUTICAL INC.
Asters law firm, Kyiv, Ukraine, Friday, December 5, 2008
4. DHL CHOSEN AS BEST EXPRESS COURIER/MESSENGER BY KYIV POST READERS
Kyiv Post, Kyiv, Ukraine, Thursday, December 4, 2008
5. KYIV POST READERS CHOOSE WINNER AUTOMOTIVE AS BEST CAR DEALER
Kyiv Post, Kyiv, Ukraine, Thursday, December 4, 2008
6. EPAM SYSTEMS RANKED 5TH AMONG FASTEST GROWING COMPANIES IN NEW JERSEY
EPAM Systems, Lawrenceville, New Jersey, Wednesday, December 3, 2008
7. KYIV POST READERS CHOOSE UKRAINE INTERNATIONAL AIRLINES AS BEST AIRLINE
Kyiv Post, Kyiv, Ukraine, Thursday, December 4, 2008
8. RAIFFEISEN BANK AVAL CHOSEN AS BEST BANK BY KYIV POST READERS
Kyiv Post, Kyiv, Ukraine, Thursday, December 4, 2008
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1. UKRAINE'S MAGISTERS LAW FIRM MAKES BELARUS MERGER
The Lawyer.com, London, United Kingdom, Monday, December 8, 2008
LONDON - Ukrainian law firm Magisters is to launch its first office in Belarus, merging with local law firm BelJurBureau. The deal will take the
newly-combined firm past the 130-lawyer mark and is expected to be completed by the end of January 2009.
In total, 12 lawyers will join Magisters, led by partners Anna Rusetskaya and Denis Turovets in the Belarus office. Turovets will become managing
partner of Magisters' Belarus office. He said the country's underdeveloped legal market makes it ripe for new entrants to take advantage of an increase in work. BelJurBureau's lawyers work in practice areas such as dispute resolution, real estate, intellectual property and corporate.
"The Belarus market is one of the most attractive and financially stable in the region," said Turovets. "The government's recent privatisation plans
make it a lucrative emerging market for early entrants, as compared with more mature markets in the region such as Russia, Ukraine and Kazakhstan."
Magisters is familiar with the merger process and has aggressive expansion plans. In 2006 the firm merged with Pravis Reznikov Vlasenko and Partners in Ukraine and Legas Legal Solutions in Russia. Oleg Riabokon, managing partner of Magisters, said: "We intend to replicate in Belarus the success of our mergers in 2006."
This year has been one of the firm's most active. Magisters opened a three-lawyer office in Georgia at the start of the year and hired its first
chief operating officer, Jason Bruzdzinski, from US-funded research centre Mitre Corporation.
Magisters also hired two new partners for the Moscow office from Rosneft and Russin & Vecchi and brought in UniCredit board member Sergey Karaganov as senior adviser.
The legal markets of Central and Eastern Europe (CEE) have witnessed a flurry of activity at the end of 2008. Austrian law firm Schönherr has
launched three new offices in the region, opening bases in the Czech Republic, Poland and Slovakia.
Schönherr will take over the Prague and Warsaw offices of Herbert Smith's German ally Gleiss Lutz in the new year, while simultaneously launching its
own office in Bratislava.
Gleiss Lutz opened its Prague and Warsaw offices in 1992 and 1998 respectively. Four of its partners partners, two from each office, will join
Schönherr as part of the transfer deal.
In Prague partners Martin Nedelka and Martin Kubánek will move over to the Austrian firm, while in Warsaw partners Pawel Siekierzynski and Przemyslaw Pietrzak will join Schönherr together with counsel Torsten Bogen.
Rainer Loges, managing partner of Gleiss Lutz, said: "To be successful as a law firm, you regularly have to review your strategy. We opened our offices
in Prague and Warsaw initially to help our clients enter these markets. Today, our clients' demands have changed and we believe they'll be better
served by aligning our Eastern European offices with a firm whose strategic focus is on CEE."
Earlier this year, Linklaters decided to scrap its offices in Bratislava, Bucharest, Budapest and Prague, creating spin-off firm Kinstellar, led by
Linklaters' former CEE head Jason Mogg. In September, Bird & Bird made its first foray into the region, simultaneously launching a series of offices in
Bratislava, Budapest, Prague and Warsaw. LINK: http://www.thelawyer.com/item/135993
NOTE: Magisters law firm is a member of the U.S.-Ukraine Business Council (USUBC).
2. HORIZON CAPITAL INVESTS $15 MILLION
INTO UKRAINIAN FOOD RETAIL CHAIN 'FRESH'
Horizon Capital, Kyiv, Ukraine, Friday, October 3, 2008
KYIV - Horizon Capital, a private equity manager focused on mid-cap investments in Ukraine, today signed an equity investment agreement to invest US$15 million in equity in Evrotek Group PLC, the holding company for a recently formed Ukrainian food retail chain operating under the trade name Fresh, alongside International Finance Corporation (IFC). This investment will enable the company to further expand its modern retail chain.
"This investment will help us expand the chain geographically and build our market share. While the sector is growing rapidly, it is still fragmented and segments of the population and geography are very underserved by modern retail formats like Fresh," said Mikhailo Veselsky, Evrotek’s Founder and Chief Executive Officer.
Evrotek Group PLC entered the food retail chain market in 2006 and is one of Ukraine’s newest retail store chains. "Fresh" has two standard formats: supermarket (1300 m2) and mini-hypermarket (2400 m2).
It intends to develop presence in large Ukrainian cities (population in excess of 100,000). Fresh has opened eight stores to-date, operating in Evpatoriya, Kerch, Kryviy Rih, Kherson and Rivne. The company’s expansion plan foresees a total of 58 stores and 3 logistics centers by 2010.
Mark Iwashko, Co-Managing Partner of Horizon Capital said: "This investment is an excellent opportunity not only to back an entrepreneur with a solid track record of success, but also to invest in one of the most interesting and fast growing sectors in Ukraine. Ukraine has consistently been ranked at the top of the AT Kearney Global Retail Development Index due to the size and potential of the market and the low level of modern retail penetration. "
This investment was made on behalf of Emerging Europe Growth Fund ("EEGF"), a $132 million fund. This is a new investment in a portfolio of 11 companies, of which almost 40% are in the consumer/retail segment. Horizon Capital invested on behalf of EEGF from 2006 to 2008 focusing on the fastest growing mid-market companies in Ukraine, Moldova and the region.
ABOUT HORIZON CAPITAL:
Horizon Capital (www.horizoncapital.com.ua) is a private equity fund manager that originates and manages investments in mid-cap companies with outstanding growth and profit potential in Ukraine and the region.
Currently, Horizon Capital manages three funds, Emerging Europe Growth Fund II (EEGF II), Emerging Europe Growth Fund (EEGF) and Western NIS Enterprise Fund (WNISEF), with over $600 million under management.
For additional information please contact: Tetyana Bega, Investor Relations Manager, Horizon Capital, +380 44 490 5580; +380 44 490 5589
e-mail: tbega@horizoncapital.com.ua
NOTE: Horizon Capital is a member of the U.S.-Ukraine Business Council (USUBC)
3. ASTERS LAW FIRM ADVISES LEADING PHARMACEUTICAL COMPANY
TEVA ON UKRAINIAN MERGER CONTROL LAW RELATED TO ITS
PURCHASE OF U.S. COMPANY BARR PHARMACEUTICAL, INC.
Asters law firm, Kyiv, Ukraine, Friday, December 5, 2008
KYIV - Asters has advised Teva Pharmaceutical Industries Ltd., one of the leading pharmaceutical companies in the world, on the issues of Ukrainian
merger control law, including obtaining merger clearance from the Antimonopoly Committee of Ukraine (AMC) in connection with its acquisition
of another global specialty pharmaceutical company Barr Pharmaceuticals, Inc.
Teva Pharmaceutical Industries Ltd., headquartered in Israel, is among the top 20 pharmaceutical companies in the world. The company develops,
manufactures and markets generic and innovative pharmaceuticals and active pharmaceutical ingredients. Over 80 percent of Teva's sales are in North America and Western Europe.
Barr Pharmaceuticals, Inc., with its headquarters in the U.S., operates through its principal subsidiaries in more than 30 countries worldwide and
is engaged in the development, manufacture and marketing of generic and proprietary pharmaceuticals, biopharmaceuticals and active pharmaceutical
ingredients.
The combination of the two companies will enhance Teva’s market share and leadership position in the U.S. and key global markets and further
strengthen Teva’s portfolio and pipeline. The acquisition is expected to be closed by late 2008.
The filing with the AMC was handled by associates Tetiana Vovk and Iryna Tertytsia under the supervision of partner Igor Svechkar.
ABOUT ASTERS -
Asters is a Kyiv-based Ukrainian law firm founded in 1995 as Shevchenko Didkovskiy & Partners. The firm is among the most recommended law firms for Ukraine according to reputable international legal directories The Legal 500, PLC Which Lawyer?, Chambers Global, IFLR 1000, and Ukraine's legal
market research publications.
A list of the firm's clients includes major international corporations, such as Beiersdorf AG, Coca-Cola, Damen Shipyards Group, News Corp., Nissan
Motor, Nokia Corporation, Philip Morris, Telenor ASA, Toshiba Corporation, and the world's leading financial institutions Barclays Capital, Citibank,
Deutsche Bank, Dresdner Kleinwort Wasserstein, EBRD, IFC, ING Bank, Standard Bank and Swedbank AB.
NOTE: Asters law firm is a member of the U.S.-Ukraine Business Council (USUBC).
4. DHL CHOSEN AS BEST EXPRESS COURIER/MESSENGER BY KYIV POST READERS
Kyiv Post, Kyiv, Ukraine, Thursday, December 4, 2008
KYIV - This cross-border express delivery service revolutionized the industry when its founders thought up a way to increase turnaround speed for ships at ports. They reasoned that if shipping documents could be flown from port to port, they could be examined and processed before the ships arrived. Sending the paperwork beforehand not only improved efficiency but also decreased port costs for shippers.
Although DHL delivered to Ukraine in Soviet times, it opened an office here after the country gained independence in 1991. Today, DHL’s global network encompasses more than 120,000 destinations in over 220 countries, including Ukraine. Easily identified by their bright orange background color and red lettering, the company has become a global leader with Federal Express and United Parcel Service.
Need something delivered overnight? Or help in freight forwarding or fine tuning your company’s supply chain and logistics, DHL can do it for you. And by sharing transportation hubs with its main competitors, the company is always looking to save on money, which it passes on to the customer. (DHL (9 Luhova St., 490-2600, www.dhl.com.ua) LINK: http://www.kyivpost.com/business/bus_focus/31595.
NOTE - DHL is a member of the U.S.-Ukraine Business Council (USUBC).
5. KYIV POST READERS CHOOSE WINNER AUTOMOTIVE AS BEST CAR DEALER
Kyiv Post, Kyiv, Ukraine, Thursday, December 4, 2008
KYIV - There are few thrills that compare with buying a new car. And Kyiv Post readers have chosen Winner Automotive as the best place to do so. Voters endorsed the company’s slogan: “The client is our boss.”
Winner’s friendly salesroom atmosphere makes you feel comfortable while kicking the tires of the car you’re considering to buy. Winner’s selection is wide-ranging (with a slant towards up-market cars loved by Ukrainians). Its price list includes Fords, Jaguars, Land Rovers, Volvos and Porsches.
Winner’s sales force is happy to help and answer all questions. If you don’t have all the money up front, Winner also offers car leasing services. Unsure which car to choose? Spend some time thinking it over in the calm and comfortable cafe found on location at Winner’s auto-center.
Want to check out a car model’s track record? Use Winner’s Internet center to Google the information you need. Children can pass the time in a special room where they can play favorite games, draw pictures or watch an interesting movie while their parents browse.
Once you have made a purchase, you will be grateful for Winner’s excellent after-sales services. You can also buy original spare parts and accessories for your car at Winner. Winner (24 Moskovskiy Prospect, Kyiv, 496-0006) [LINK: http://www.kyivpost.com/business/bus_focus/31599]
NOTE: Winner Automotive is a member of the U.S.-Ukraine Business Council (USUBC)
6. EPAM SYSTEMS RANKED 5TH AMONG FASTEST GROWING COMPANIES IN NEW JERSEY
EPAM Systems, Lawrenceville, New Jersey, Wednesday, December 3, 2008
LAWRENCEVILLE, NJ - EPAM Systems, Inc. was honored as the 5th within the fifty fastest growing companies ranking of New Jersey businesses by NJBIZ, the state’s weekly business journal. EPAM Systems (www.epam.com), is a leading provider of software engineering and IT Outsourcing (ITO) services with delivery centers in Central and Eastern Europe (CEE).
New Jersey and its vicinity is home to over 20 percent of the FORTUNE 500® company headquarters, with more than 1,100 multinational firms from over 40 nations. This region is often referred to as "the epicenter of the nation’s largest business corridor." EPAM, founded and headquartered in Lawrenceville, has made the New Jersey’s Finest list for the 3rd consecutive year, and was honored by NJBIZ on November 17th at their annual award ceremony.
"We are proud to be among the winners of this prestigious award. EPAM’s technology expertise and global presence that help companies outsource critical IT needs in a timely and cost-effective manner — in our case, worldwide — have served us, and our clients, well. Congratulations to all the winners! We are committed to continue bringing value to our clients, while growing EPAM Systems in this difficult business environment," stated Arkadiy Dobkin, EPAM President and CEO.
ABOUT NJBIZ
NJBIZ, New Jersey`s only weekly business journal covering the entire state, was founded in 1987. The publication has received numerous statewide and national awards including the 2006 Most Improved Award from the Alliance of Area Business Publications. NJBIZ is owned by Journal Publications Inc., a multi title publishing and events company based in Harrisburg, Pennsylvania, www.njbiz.com.
ABOUT EPAM SYSTEMS
Established in 1993, EPAM Systems, Inc. is the leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe (CEE). Headquartered in the United States and serving clients worldwide, EPAM provides software development and IT related services through its more than 4,500 professionals deployed across client delivery centers in Russia, Belarus, Hungary, and Ukraine.
EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.
EPAM is ranked among the top companies in IAOP's "The 2008 Global Outsourcing 100" and in "2007 Top 50 Best Managed Outsourcing Vendors" by Brown-Wilson Group`s Black Book of Outsourcing. Global Services Magazine recognized EPAM in its "2008 Global Services 100" list as No.1 company in the "Emerging European Markets" and included EPAM into the global Top 10 "Best Performing IT Services Providers".
For further information contact Alena Busko, Marketing Manager, EPAM Systems , Delivering Excellence in Software Engineering, Office phone: +1 (609) 613-4031, ext. 50474, E-mail: press@epam.com, Website: www.epam.com.
NOTE: EPAM Systems is a member of the U.S.-Ukraine Business Council (USUBC).
7. KYIV POST READERS CHOOSE UKRAINE INTERNATIONAL AIRLINES AS BEST AIRLINE
Kyiv Post, Kyiv, Ukraine, Thursday, December 4, 2008
KYIV - If you are looking to fly to Europe from Ukraine, or to Ukraine from a European destination, look no further than Ukraine International Airlines.
Ukraine International offers 300 scheduled flights per week across the globe and more direct European services than any other domestic airline. And while the Ukrainian carrier offers big services, flights are competitive.
That’s not bad for a young Ukrainian passenger airline. And while Ukraine International has less than 20 years under its belt, business has been booming, with passenger traffic rising about a quarter annually to fit growing demand by businesses and tourists travelling to and from Ukraine.
The airline has built up a large fleet of comfortable and reliable Boeing aircraft of various sizes. Where Ukraine International’s own fleet can’t take you, its partners will. Ukraine International cooperates with airlines worldwide via 126 interline agreements. It has more than 40 representative offices in Ukraine and abroad.
So what’s the formula for success at Ukraine International? Well, you might say this closed joint stock company founded in 1992 has the perfect mix of domestic and western management as well as investment.
While the airline is 62 percent state-owned, Austrian Airlines holds a 23 percent stake. Smaller but equally important investors have played a big role in ensuring service is top quality: the European Bank for Reconstruction and Development with nearly 10 percent, and AerCap with 6 percent. With Ukraine International, passengers know they will fly safe, at the right price and arrive on time. [Ukraine International Airlines (201-203, Kharkivska St., 581-5656).] LINK: http://www.kyivpost.com/business/bus_focus/31600.
NOTE: Ukraine International Airlines is a member of the U.S.-Ukraine Business Council (USUBC).
8. RAIFFEISEN BANK AVAL CHOSEN AS BEST BANK BY KYIV POST READERS
Kyiv Post, Kyiv, Ukraine, Thursday, December 4, 2008
KYIV - It is not surprising that Raiffeisen Bank Aval was chosen as the best bank by this year’s Best of Kyiv reader’s poll. The bank has been an undisputed trend-setter on Ukraine’s small but dynamic banking market for more than one decade now.
In the fall of 2005, Austria’s leading banking group, Raiffeisen, purchased Aval from a handful of Ukrainian owners triggering off a flurry of sales which saw many top Ukrainian banks sell to European financial institutions. Raiffeisen paid what was then considered a whopping $1 billion for Aval, which has since been renamed to Raiffeisen Bank Aval.
Having stepped in early, Raiffeisen certainly got its money’s worth. It acquired one of the top five banks in an emerging market of 46 million citizens who are just getting used to banking services.
But Raiffeisen and other European banks that marched into the market following in the Austrian group’s footsteps brought much to Ukraine in return. They invested billions of dollars into the country’s banking market and introduced new standards for banking that fuelled a credit boom. It has temporarily been halted by the global credit crunch, but not before generating years of strong growth for Ukraine.
Throughout the dark days of the global financial crisis and thereafter, Raiffeisen will no doubt continue in this endeavor offering quality service to customers in Ukraine and throughout the region. (Raiffeisen Bank Aval (9 Leskova St., 490-8888), www.aval.ua)
LINK: http://www.kyivpost.com/business/bus_focus/31604
NOTE: RZB Finance LLC, USA, a member of the Raiffeisen group of companies, is a member of the U.S.-Ukraine Business Council (USUBC).