Sayenko Kharenko has acted as Ukrainian legal counsel to VR Capital on the acquisition of 50% of shares in Nicken Holdings LTD from Investment Capital Ukraine (ICU).

Nicken Holdings LTD is the owner of 11 Ukrainian project companies developing 11 solar power plants in the Mykolaiv region with an aggregate capacity of approx. 127 MW.

VR Capital is an alternative asset manager focused on distressed securities and event-driven/special situations investments with a strong historical orientation towards emerging markets including Ukraine.

ICU is an asset management, private equity and investment advisory firm specializing in the emerging markets of Central and Eastern Europe.

Sayenko Kharenko’s involvement in this transaction included legal due diligence of the project companies, participation in negotiation of the transactional documents, and obtaining a merger clearance from the Antimonopoly Committee of Ukraine.

Sayenko Kharenko’s core team included partner Oleksandr Nikolaichyk and senior associate Mykhailo Grynyshyn assisted by senior associate Tymur Enkhbaiar, associates Oksana Daskaliuk, Dasha Dashkevych and Tetiana Dyvak, and junior associates Sviatoslav Kozak and Zarina Khalimon. Partner Maksym Nazarenko and associate Igor Pomaz advised on antitrust matters, and counsel Igor Lozenko advised on financing matters.