News

14-01-2016

Spenser & Kauffmann advises a client on the substantial shareholding acquisition in the financial company Universum Finance

Spenser & Kauffmann advises a client on the substantial shareholding acquisition in the financial company Universum Finance

Spenser & Kauffmann advised a private investor on substantial shareholding acquisition in Universum Finance, a factoring company with a multimillion debt portfolio purchased from the leading Ukrainian banking institutions.

Under Ukrainian laws substantial shareholding arises when a person directly or indirectly owns more than 10% of shares in the financial company. In this case, the client directly acquired 99,9% of Universum Finance’s shares. This required such an investor to undergo a special complex procedure and obtain a permission of the National Commission for the State Regulation of Financial Services Markets (“the Regulator”). Spenser & Kauffmann successfully advised on the permission obtaining, which was issued by the Regulator in the end of 2015.

“Legal support of this transaction was one the most significant during the last year. Lately the Regulator became very strict to the issue of such permissions. Therefore, we are especially glad to confirm our expertise in this area”, says Valentyn Zagaria, managing partner of Spenser & Kauffmann.

Spenser & Kauffmann team consisted of lawyers from Banking & Finance practice led by managing partner Valentyn Zagariya and partner Igor Chernysheko.

Advising on obtaining of state authorities’ permissions is one of Spenser & Kauffmann’s specializations. Recently, Nickolas Likhachov, councel of the firm, also commented on the simplification of procedure for conducting of M&A transactions on Ukrainian market.