PRESS RELEASE 

DATE: March 2013 

SALANS ADVISES PROGNOZ GROUP ON USD 30 MILLION CONVERTIBLE LOAN FROM EBRD

March 2013, Kyiv:

Salans advised Prognoz Group, a leading Russian software developer for business intelligence (BI), in connection with a USD 30 million convertible loan from the European Bank for Reconstruction and Development (EBRD).  BI software is expected to be one of the fastest-growing segments of the global information technology (IT) market, and this six-year loan will support development of the group’s BI products and expansion of its international operations.  The borrower is Prognoz Systems SPRL, the group’s Belgium-registered holding.

The Salans team in this project included Bernhard Gemmel (Partner, Frankfurt), Natalia Selyakova (Partner, Kyiv), Abai Shaikenov (Partner, Almaty), Sahra Dalfen (Partner, New York), Stanislav Schmidt (Associate, Frankfurt), Denis Kulgavyi (Associate, Kyiv), Ainur Atekeyeva (Associate, Almaty) and Irina Fayman (Associate, New York) assisting the client in preparation of the transaction documentation under the laws of several jurisdictions (Ukraine, Kazakhstan, USA, Belgium).

Salans has been advising Prognoz in a number of corporate and financing transactions.

Key Contacts:

 

Bernhard Gemmel
Partner, Co-Head of Salans Banking & Finance Practice Group in Germany
E: bgemmel@salans.com
T: +49 69 45 00 12 260

 

Natalia Selyakova
Partner, Head of Salans Banking & Finance Practice Group in Ukraine
E: nselyakova@salans.com
T: +380 44 494 47 74

 

 

Irina Batmanova
Business Development & Marketing Manager, Salans Ukraine
E: ibatmanova@salans.com
T: +380 44 494 47 74

 

 

NOTES TO EDITORS:

About Prognoz Group:
Prognoz was founded in 1991 on the basis of the Cybernetics department of Perm State University. Based in Perm, it now has a staff of over 1,400. Most of its top managers hold advanced degrees in mathematics, IT and economics. The global market for BI applications is estimated to be worth USD 12 billion. In some segments of Russia’s fledgling BI market, Prognoz is estimated to have a market share of up to 50 percent. The BI market in Russia as a whole is recording double-digit growth.

About EBRD:
The European Bank for Reconstruction and Development (EBRD) is an international financial institution that supports projects in over 30 countries, from Eastern Europe to central Asia and the southern and eastern Mediterranean. Investing primarily in private sector clients, the Bank promotes entrepreneurship and fosters transition towards open and democratic market economies.

About Salans

  • Salans is an international commercial law firm built on a pioneering spirit, with 930 fee earners and over 1,500 staff operating from 20 offices.
  • On 28 November 2012, the partners of Salans, FMC and SNR Denton voted to combine to create Dentons — a new global law firm with more than 2,500 lawyers and professionals in 79 locations in 52 countries — to provide clients a competitive edge in an increasingly complex, interconnected and competitive marketplace. The new firm will launch in the first quarter of 2013 and will be the seventh largest law firm in the world measured by number of lawyers and professionals. For more information, please visit www.dentonscombination.com
  • Salans regularly receives praise from clients and industry observers around the world. In 2010, The Lawyer magazine awarded Salans the coveted ‘European Law Firm of the Year’ award in its annual European Awards.
  • The firm prides itself on its independent and entrepreneurial spirit, combining extensive international capabilities with a focus on the provision of top-level domestic expertise and experience in each jurisdiction in which it operates. Clients get the best of both worlds.
  • Salans has established offices in business and political centres in 17 countries across Western Europe, Central and Eastern Europe, Russia/CIS, North America and Asia.  The offices are listed here alphabetically: Almaty, Baku, Barcelona, Berlin, Bratislava, Brussels, Bucharest, Budapest, Frankfurt, Istanbul, Kyiv, London, Madrid, Moscow, New York, Paris, Prague, Shanghai, St. Petersburg and Warsaw.

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Salans LLP is a Limited Liability Partnership registered in England and Wales with Registration Number OC 316822. Regulated by the Solicitors’ Regulation Authority of England and Wales. A list of the members of Salans LLP and of the non-members who are designated as partners of Salans LLP and/or its affiliated entities is available at its Registered Office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom.