Asters, a prominent player on the Ukrainian market engaged in significant domestic and global transactions, provides representation for diverse international clients in restructuring, governance, and compliance matters. The firm traditionally possesses an impressive track record in managing impactful mergers and acquisitions and joint ventures, including private equity deals, across various sectors – energy, agriculture, IT, telecommunications, technology, banking and finance, healthcare. The firm further assists with protecting and enforcing shareholder rights, and represents clients in shareholder litigation. In a recent highlight the firm acted as a Ukrainian law counsel to Arawak Energy Ukraine B.V., a member of group of companies Vitol, in the sale of a 50% stake in Geo-Alliance Oil-Gas Public Limited to gas producer Geo Alliance Group Limited; acted as a legal counsel to Horizon Capital in connection with a co-investment with the International Finance Corporation in Miratech, a leading next-generation technology services provider; assisted Adenza, a software application provider, with corporate restructuring of its group companies. Another notable representation was advising Novator Partners, an international private equity, growth equity and capital markets investor, on the sale of foreign pharmaceutical marketing companies and a Ukrainian business owning a product portfolio, selected assets, and IP rights and trademarks, to Farmak group, leader of the Ukrainian pharmaceutical market. The sizeable practice has four partners on board. Renowned for his work in oil and gas, as well as banking transactions. Armen Khachaturyan leads work in large-stake deals in subsequent sectors. Oleg Boichuk is active in real estate. Oleksiy Demyanenko currently focuses on projects in defense and NGOs sectors. Vadym Samoilenko traditionally leads corporate restructuring and governance assignments, and is active in the agricultural sector, pharmaceuticals and NGOs. Senior corporate team includes counsel Oleksandr Khomenko, Maksym Tereshchuk and Oles Kvyat. 

Baker McKenzie’s esteemed Kyiv office is engaged by multinational corporations and prominent Ukrainian industry leaders for its notable high-value multijurisdictional mandates. The team benefits from global presence and possesses extensive experience in working on cross-border English and US law governed deals. During the research period the dedicated practice acted on both sell-side and buy-side in IT and service industries M&A transactions in Ukraine, implemented complex cross-border reorganizations, handled instructions related to restructuring of transactions so as to respond to force-majeure events. Additionally, the firm continued advising the portfolio companies of private equity firms in Ukraine on various strategic matters. The practice team is known for advising high-impact deals across major sectors in Ukraine, having advised the shareholders of PrJSC Ivano-Frankivskcement, a leader of the cement industry of Ukraine, on the potential sale of its business to NEQSOL Holding. The firm’s competitive edge is primarily its role of transaction counsel on major cross-border transactions which are led out of its Kyiv office. Other disclosable highlights include acting as Ukrainian legal counsel to Digital Media Solutions, a leading provider of technology-enabled digital performance advertising solutions, in a multijurisdictional transaction for the acquisition of assets of ClickDealer, a global performance marketing company; advising ALD Automotive in connection with the planning of the post-acquisition integration of LeasePlan, one of the world’s leading fleet management and mobility companies, by ADL Automotive in some 20 countries. The sectoral breakdown of mandates includes TMT (technology, media and telecoms), EMI (energy, mining and infrastructure), financial services, healthcare and life sciences, agribusiness and retail. The practice has two partners on board. Leveraging decades of experience, Viacheslav Yakymchuk consistently leads high-profile deals. Andrii Moskalyk, promoted to partner in July 2023, is referred for his strong performance in oil and gas, energy, infrastructure, and leadership role in transactions in IT and financial services sectors. Senior associate Alyona Bon was noted by peers for her high-level performance. Olga Gavrylyuk, counsel, is another key figure.[1]

Dentons’ corporate and M&A practice in Kyiv leverages its international expertise and global network, frequently entrusted with cross-border M&A, including private equity and venture capital transactions, joint ventures, compliance, and regulatory matters. The firm advised Farmak, Ukraine’s leading pharmaceutical company, on a series of strategic acquisitions (pharmaceutical marketing companies in the Czech Republic and Slovakia, a Ukrainian business owning a product portfolio, selected assets) from a portfolio company of Novator private equity house. Dentons continued to assist clients in the energy sector with business development and expansion in Ukraine, including advice on potential acquisitions, solar project development, and the sale of projects across various regions, particularly Odesa and Ivano-Frankivsk. Additionally, the team provided pro bono legal advice to Children of Heroes of Ukraine Foundation regarding formation of a charitable organization. During the research period the firm provided legal assistance with the relocation of the employees and resources of clients to overseas locations. Adam Mycyk, US-qualified partner, is renowned as a robust transactional lawyer. Oleg Batyuk, the managing partner of the office, is practice head and an essential point of contact for numerous international clients of this global firm.

EY’s multidisciplinary team stands out for its one-stop-shop approach, delivering comprehensive services in corporate advisory, compliance, governance, and full transactional support. The team maintains a vivid presence in the M&A arena, particularly in the private equity transactions. For example, the office provided comprehensive support to Horizon Capital in the course of acquiring a minority stake in GoIT, one of the leading providers of online IT education; provided full legal support to Miratech Group in terms of attracting of investment from IFC in partnership with Horizon Capital. The team is highly sought after for advising on transactions in the IT sector, having acted as an advisor to Digitally Inspired in the course of its acquisition by Intellias, a global software engineering and digital consulting company; served as lead legal counsel to Nortal Group, a global digital transformation leader, acquiring Skelia, an award-winning leader in building cross-border IT organizations, etc. The corporate practice diverse workload activities included legal reviews for compliance with Diia City requirements, support for internal restructuring in the IT and networking security sector, asset deal assistance for a US-based private equity acquisition, establishment of a legal presence in Ukraine for a British aerospace company, ongoing legal and corporate secretarial support for EY’s global accounts, and incorporation assistance for multinational companies. EY’s associate partner, Bogdan Malniev, is recognized for his active involvement in M&A work, while senior associate Andrii Kornuta has received praise from peers for his professional performance. Partner Borys Lobovyk acts as head of EY’s law practice in Ukraine.

INTEGRITES has a strong footprint on the transactional market, having a distinct specialization on multijurisdictional M&A, joint ventures, as well as assisting Ukrainian business on outbound investment. Throughout the research period, the practice expanded its workload into IT and other technology-intensive sectors while maintaining a preference for investment funds. INTEGRITES advises Kovalska Group on the acquisition of 50% stake in two project companies for construction of commercial premises. Another M&A highlight is advising Hypra Fund Ukraine-based joint venture fund, on the acquisition of shares in US-Ukrainian digital product manufacturer Trinetix. The team is sought after in multijurisdictional restructurings, and has a series of large-scale ongoing mandates in its portfolio, inter alia, acting as lead counsel to Bas IP, IP telecom solutions provider with global presence, on the pre-sale structuring of business in multiple jurisdictions, including Ukraine, UK, Czech Republic and Hong Kong; advises Acino Pharma AG on various corporate law matters related to its subsidiaries in Ukraine and the representative office in Georgia, including intra-group debt restructuring, etc. The track record industrial breakdown encompasses the automotive, investment, IT, energy, real estate, and construction sectors. Among representative clients are Acino International AG, Logoplaste, Saint-Gobain, Savencia, Servier Emergy AS, and others. Illya Tkachuk, corporate and M&A partner and head of the French Desk, has a deep commitment to lead complex transactional mandates. Munich-based partner and  head of the German Desk, Dr. Julian Ries, focuses on general corporate assignments. Inna Kostrytska, who was promoted to counsel, has experience of comprehensive corporate restructuring. Vasyl Yurmanovych is an important team member.

Kinstellar is sought after for complex cross-border M&A transactions, and in the broad spectrum of corporate work, particularly joint ventures, corporate governance, and actively engages in private equity-led deals. Additionally, the firm provides assistance to companies entering and exiting the Ukrainian market. The team distinguishes itself with a specific focus on the defense sector, dealing with its unique set of complex issues. The recent highlight includes advising Rheinmetall Landsysteme in relation to a joint venture with Ukraine’s state-owned defense industry concern, Ukroboronprom. The practice handles complex support in technology and telecom sector M&A deals, and is assigned for corporate structuring support by IT companies. The team advised HARMAN International, the leading supplier of connected technologies for automotive, consumer and enterprise markets, on acquisition of Apostera, a Germany-based automotive technology company with several subsidiaries in Ukraine. The firm’s practice work is currently led by three partners – Anastasiya Bolkhovitinova (defense, technology and telecommunications sectors), Olena Kuchynska (corporate governance) and Illya Muchnyk (energy).[2]

Sayenko Kharenko, a prominent full-service firm in Ukraine, excels in a well-rounded practice encompassing landmark M&A and JVs, private equity deals, impact-investment initiatives, corporate governance and compliance areas. The team is actively engaged in advising clients on the full range of implications of Russia’s ongoing war on their business and operations in Ukraine and globally, including advice on potential acquisitions and disposals of assets in Ukraine in light of the specifics of martial law, managing legal and compliance risks for joint venture partners and dealing with reorganisation of current business operations in the region, and arranging deal management as lead counsel. The practice team is traditionally attracted as a Ukrainian legal counsel within global deals. For example, the firm provided a wide range of transactional support on Ukrainian law matters to Goldman Sachs Asset Management in connection with the acquisition of Cprime; acted as legal counsel for Intellias, a global software engineering and digital consulting company, in connection with acquisition of Digitally Inspired, a UK based peer, focusing on the retail and e-commerce industry. Other significant deals on the M&A arena, among others, included advising Millstone Group on acquisition of the entire shareholding in European Lithium Ukraine LLC by European Lithium Limited (EUR), and Millstone Group’s subsequent investment into EUR; advising the shareholders and management of Helsi Ukraine LLC, the leading digital healthcare provider in Ukraine, with respect to the sale of a controlling stake to PrJSC Kyivstar and creation of a joint venture. Notably, the firm is currently advising D3 on pre-investment structuring of selected Ukrainian companies engaged in producing military and dual-use technologies. It is significant that the firm provides complete legal support in corporate governance reform for all state-owned banks. Three partners within the team contribute the largest part to market capacity. Oleksandr Nikolaichyk leads complex deals and has assumed a strategic managerial role in the Kyiv office. Alina Plyushch became a front-running partner for classis M&A work and also serves in a deal management capacity. London-based Vladimir Sayenko splits time with antitrust practice and is acknowledged as a recognized legacy. The senior team members – Tymur Enkhbaiar, Dmytro Riabikin and Mykhailo Grynyshyn – were promoted to counsel positions. 

ARIO Law Firm, operating from offices in Kyiv and Lviv, commands a comprehensive range of corporate legal services, including privatization, share and asset deals, establishing joint ventures, corporate restructuring, corporate governance, contract drafting, and beyond. The team maintains counselling domestic M&A deals, most recently represented the beneficiaries of Opillia Brewery in the sale of their wood processing company Etalon Lis. The firm provided legal assistance to Aqua Solar Invest Group in their involvement in a privatization auction for the sale of shares in the Kobylivolotsky Distillery, previously owned by the State Enterprise Ukrspyrt, and supported the process of acquiring shares after victory in the auction. Another highlight includes providing legal support for the development of a joint legal entity aimed at attracting investments for specific territorial communities. The team has vast experience of handling resolution of corporate conflicts. For example, the firm represents Concord Group, which owns two energy companies in Ukraine, in an intricate corporate restructuring process sparked by a corporate conflict between majority and minority shareholders. Renowned for his expertise in bankruptcy, senior partner Julian Khorunzhyi is highly-active guiding corporate projects. Serhii Derkach, counsel, is active across M&A workload; associate Mykhailo-Lev Sydorovych, works with foreign clients. Anna Sydorovych joined the firm’s Western Ukrainian branch in Lviv as a partner.[3]

ETERNA LAW possesses extensive expertise in managing corporate assignments for renowned entrepreneurs and corporations. These engagements include tasks such as ownership structuring, multijurisdictional corporate restructurings, M&A, market entries and due diligence during martial law. In 2023, the firm advised a group of EFT companies, a unique European energy trading and investment concern, on a range of legal issues related to the M&A within the framework of the international restructuring process. The firm is mandated for cross-border work, notably advising a group of Ukrainian and US businesses on creating joint venture in military industry with a well-known US company operating in the military market. Another highlight in the corporate portfolio is advising Alba Poskla Sp.z.o.o in relation to a PPP project and its implementation for the construction of a waste processing plant in Vinnitsa Region. The practice has two partners on board – Oleh Malskyy and Artem Kuzmenko. Important team member Marharyta Tatarova was promoted to counsel.

Having offices in Kyiv and Warsaw, EUCON Legal Group assists clients with corporate structuring across Polish, Ukrainian, and other European jurisdictions. Since February 2022, the group has rendered legal support to numerous Ukrainian companies for temporary relocation and establishment in Poland. This includes projects involving partial or full relocation, company acquisitions, and new business establishments. During the research period the firm rendered legal support in the framework corporate business structuring and entry into the Polish market for a number of Ukrainian investors, particularly TelcoGuard Poland, a telecommunications services company; AGROMAT, the market leader in sales of ceramic tiles and sanitary ware; marketing company Fedoriv; Radio Bird, an innovative solutions for radar reconnaissance, which develops and manufactures drones; TiMR, wholesale trade of industrial and titanium minerals, and others. The firm has an established workload of assisting clients with changes in their corporate structures, having recently assisted GoIT and KLIF Energy PV 1 / KLIF Energy PV 2. The practice is headed by partners Yaroslav Romanchuk in Ukraine and Andrii Romanchuk in Poland. 

EVERLEGAL is a seasoned legal market player, adept at handling a wide range of transactional and corporate advisory mandates. Throughout the research period the practice exerted strong focus on advising international clients on adjusting their corporate structures, operations and governance to martial law requirements and risks. The team’s current pipeline includes acquisitions, post-M&A integration of acquired Ukrainian assets, intra-group transfers of stakes in various projects, and corporate structuring and governance assignments. The team is particularly active in the renewable energy, agriculture and food industries, real estate, IT, and investment. Notably, the firm rendered legal assistance to several large international organisations regarding their current activities in Ukraine aimed at implementing projects to support Ukrainians in wartime. Clients include Louis Dreyfus Company Ukraine, UNIT.City, UDP Renewables, Hero Future Energies, Main Group Europe, Norwegian Refugee Council, Ukrainian subsidiaries of Fortune 500 companies. The sizeable practice is led by Yevheniy Deyneko, managing partner, who focuses on fronting corporate and transactional assignment in IT and agricultural sectors, as well as greenfield projects in non-banking financial and renewables. Andriy Olenyuk, partner, was extensively involved in renewable energy transactions, as well as complex instructions involving land banks. Associate Olga Horodniuk was singled out as “a bright and technically capable practitioner”. 

Gramatskiy & Partners renders a full scope of corporate advisory matters, being enlisted for corporate structuring, reorganizations, privatization, intra-group deals and transactional support. In the research period the firm supported structuring of corporate assets and capital in the Playroom/Arbitrum project; conversion of the loan principal of Cloverdale Enterprises Limited into the charter capital of Exco Plus LLC; advised on the procedure, methods and financial instruments in the process of privatisation of shares in JSC Plant Kvant. Among other highlights is assisting in the launch of the International Criminal Court in Ukraine. In addition, the firm brought to the Supreme Court of Ukraine cases on the protection of minority shareholders’ rights, payment of dividends, scope of corporate rights, withdrawal from LLCs, guarantees of minority shareholders’ rights through legal activities and composition of the supervisory board, etc. The firm had a stable range of domestic clients, among others, Playroom Ukraine, Alfa-Arcadia LLC, Global Space Management, CIF Respublika, Skywind Tech UA, Branco CIF, Eurotransgaz, etc. The corporate practice is led by Yegor Ignatichev. Ernest Gramatskiy, firm’s founder, guides strategic projects, operating at the beneficiary level.

Ukrainian law firm Hillmont Partners deals with general corporate, M&A and GR matters. In 2022-2023, the firm opened two regional offices in Lviv and Odesa. The team guided Black Iron Inc., a Toronto-listed company, through Ukrainian legislation to secure government support for its USD 1.2 billion iron ore mining project at the Shymanivske deposit, the largest Canadian investment in Ukraine, in particular assisted in drafting a special investment agreement and negotiating its terms with the Ukrainian government. During the research period the firm acted as legal advisor to a private investor in connection with the acquisition of convertible notes of a Delaware corporation engaged in B2C logistics services in EU countries; acted as legal advisor to an international business group with assets in Ukraine in connection with the EUR 100 million acquisition of a stake in a commercial real estate facility in Eastern Europe. The firm is providing comprehensive legal support to Glovoapp Ukraine LLC, one of the top 3 courier food delivery services in Ukraine; advising the American Council in Ukraine in connection with its operations during the war. The practice is led by senior partner Valentyn Zasukha, an experienced corporate finance and investment advisor who joined the firm in December 2021. Partner Andrian Artsishevsky leads the corporate/M&A practice in Lviv, while Ivan Kovalenko leads the practice in Odesa.

Ilyashev & Partners assists prominent Ukrainian business owners and private investors in their corporate instructions, handling a consistent portfolio of tasks, including corporate structuring and restructuring, share and asset deals, shareholders’ issues, as well as corporate disputes resolution. Notably, the firm stands out for its expertise in providing advice on sanctions and compliance during the research period. On the M&A front, the firm represented SMK Group, the largest meat processing holding in Ukraine, in the acquisition of the Viola Meat Plant from Warter Polymers (Grupa Warter, Poland). The firm recently rendered legal advice to Volynholding, Nestle’s arm in Ukraine, within the process of its corporate restructuring and implementation of a new corporate governance model, and implementation of the project on expansion of production facilities in Volyn Region. Among pro bono projects is development of the charter of the Charity Hero Charity Fund, registration and related issues. The firm’s clients include sound names from the agrarian sector, energy, real estate and construction, pharmaceuticals and life sciences. To mention a few – Ferrexpo AG, KOZ Organic (Oliyatorg, Krivoozersky plant of organic oil), Group DF, Red Cross Ukraine, Budpostach, DCH Group, Golden Tile. Mikhail Ilyashev, managing partner, provides strategic guidance. Yevgen Solovyov, partner, supervises general corporate advice and anti-raiding assistance. Promoted to counsel, Oleksandr Rudenko is involved in M&A and investment instructions. Vyacheslav Sytyi handles projects in ownership structuring in foreign jurisdictions. 

KPMG Law Ukraine’s recent corporate practice portfolio includes providing legal and tax assistance in structuring joint ventures, developing corporate governance, and ensuring the client’s operations comply with both local and international regulatory frameworks, as well as divestment from Ukrainian business and liquidation. During the research period the office was involved in several M&A projects as part of the procedure of selling and purchasing several businesses both in Ukraine and abroad. The team conducted legal due diligence of the Ukrainian target and coordinated overseas office in terms of investment by Horizon Capital into Preply, an online language learning marketplace. Another area of focus was legal support in establishing joint ventures in the energy and defense sectors. Yuriy Katser, director, and Bogdan Shyshkovskyi, senior counsel, are the practice leaders. 

LCF Law Group advises clients on the corporate structuring of investments, corporate governance, general corporate and competition compliance matters, privatization proceedings, and acquisitions. The team recently advised the Slovak company Finance Real s.r.o. on corporate governance and investment protection of MGV LLC and FRANCO-SOLAR LLC in solar energy projects, as well as on new investment. The firm possesses expertise in providing guidance to companies on the corporate and commercial facets of significant construction projects, including associated investment agreements. As part of the group’s pro bono efforts, the corporate team helped to establish several charitable funds and continues to provide legal support to Impact Force, an NGO focused on enhancing local small and medium-sized socially oriented businesses in Ukraine. The team is particularly experienced in representing key players in the renewable energy and gambling sectors, as well as financial advisory. Other clients include Fozzy Group, Consumers cooperative Solar City, Gamedev, etc. Partner Sergiy Benedysiuk heads the practice. 

Lexwell & Partners has a significant clientele list within the industrial, oil and gas, and real estate and construction sectors. The team is instructed to handle large-scale M&A and corporate restructuring mandates, as well as corporate governance matters. The firm recently advised CRH Group in connection with its acquisition of cement, ready-mix concrete and logistic businesses of Buzzi (Dyckerhoff Group) in Ukraine, which is regarded one of the largest investments since full-scale invasion. Notably, the firm acted as a co-counsel and local advisor to energy giant Naftogaz of Ukraine with the main focus being on restructuring/divestment of large-scale oil and gas businesses between major shareholders (suspended in 2022). Among other highlights was advising and supporting change of the system of corporate governance and management in all companies of the Amstar Group in Ukraine, an international real estate developer, to ensure an effective level of corporate control. Andriy Kolupaev and Igor Nagai are the main points of contact.

The corporate practice of MK Legal Service is dedicated to supporting investment projects, including outbound investment and expansion activities. The firm enjoys a long-established following of clients from the telecommunications and HoReCa sectors, along with a stable presence in retail and marketing. In 2022, the firm finalized its renown representation of Gastrofamily — Dmytro Borysov’s family of restaurants, in the implementation of an investment project with Dragon Capital — the opening of Lviv Food Market in Lviv, and continues to further support the work of the Gastrofamily franchising department and foreign expansion of the group. Other representative projects include support of the opening of “Sam Udoma” franchise points in Kyiv and Kyiv Region, assisted Rock Beer LLC with the relaunch of stores under a new brand in Kyiv. In the retail sector, the team advised JUL on its clothing brand activities and collaborations with public figures. The firm supports client GigaGroup with corporate structuring, registration of launch of new business, particularly the GigaSafe cyber security agency, and acted in matters of business relocation to Poland during martial law, as well as launch of a foreign branch of cloud operator GigaCloud in Poland by transferring assets between non-residents and legalizing activities abroad. The practice is generally managed by Maksym Kurochko, managing partner, Serhii Husiev, partner, head of HoreCa and retail support practice, and Artem Ostapenko, head of IT/TMT practice.

MORIS commands substantial corporate mandates encompassing areas such as corporate restructuring, governance, privatization, share and asset deals. The firm continued working on its long-lasting corporate restructuring mandate from IFCEM, Ukraine’s largest and one of the world’s most energy-efficient and technologically advanced cement producers, in particular, developing and implementing a corporate governance structure; assisted Promprylad.Holding in terms of additional issue of shares for a modern development project focused on the reconstruction of an old factory. The team acted as a legal counsel to Invest-Active Asset Management Company in the course of establishment of the Grunwald business center in Ivano-Frankivsk, and supported participation in the auction organized by rail operator Ukrzaliznytsia. MORIS provided legal assistance to Internet of Things Ukraine, the first national operator of the Internet of things network using LoRaWan technology, throughout the acquisition of a business specializing in computer hardware management activities. The Kyiv-based partner Maryan Martynyuk runs the corporate and M&A practice. 

The Ukrainian law firm NOBLES has a robust portfolio of international clients and offers a comprehensive range of commercial, corporate, and M&A legal services, emphasizing expertise in complex cross-border matters. In particular, the firm regularly acts as a Ukrainian legal counsel in terms of multijurisdictional M&A, establishing joint ventures in Ukraine and abroad; supports expansion of businesses to the Ukrainian market; advises multinational corporations on corporate governance and restructuring of their Ukrainian business. Currently the firm is acting as a Ukrainian law counsel to Bolton Group, an Italian business group, on acquisition of Unipak, manufacturer a range of chemical/technical products for the plumbing industry. The client portfolio encompasses a variety of industries, with a special emphasis on IT, e-commerce, media, telecommunications, insurance, and real estate. Among representative clients of the firm are Auto1 Group Se, Beam Suntory, BayWa, DAAD: German Academic Exchange Service, Ivoclar Vivadent AG, H&M, MHP, Mothercare, etc. Two partners lead the practice — Volodymyr Yakubovskyy caters to clients from the US, the UK, Australia, and Canada, while Alexander Weigelt primarily advises clients from the DACH region. 

Founded in 2007, Ukrainian law firm Olsten Partners is sought after day-to-day consulting, including corporate, commercial and various business advice, amongst others, setting up investment funds, purchase and sale of corporate rights, entering Ukrainian market, investment projects and expansions abroad, in particular, Poland. The recent highlights include representing Ecobiotrans LLC, the owner of two gas stations in Kyiv Region, in the sale of business. The firm’s portfolio includes advising on private acquisitions as well as providing comprehensive support for franchise projects. Among the areas of focus are agribusiness, retail and wholesale of food, confectionery, fuel retail, pharmacy, medical equipment, security, commercial real estate management and construction. The team is led by the firm’s managing partner, Olesia Romanenko. 

PETERKA & PARTNERS enjoys a well-established network of offices in the CEE region, with the vibrant practice team in Ukraine. The office is engaged by predominantly European clients to handle corporate affairs in Ukraine and advising their Ukrainian subsidiaries. This includes establishing and liquidating entities, providing assistance with corporate documents, managing joint ventures, and conducting due diligence for corporate transactions. In 2022 – 2023, the Kyiv office assisted several clients with the contemplated M&As and share transfers. Taras Utiralov, partner and director for the Ukrainian office, guides the corporate practice. 

Ukrainian law firm Redcliffe Partners is a point of choice for significant international players coming from energy, oil and gas, agribusiness, TMT, pharmaceuticals, FMCG, financial services. The team has a robust history of forming close affiliations with international law firms for transactional work, and holds expertise in English law on-site. Other areas of corporate workload include corporate compliance, corporate governance, general matters within sophisticated projects (for example, mandates within oil and gas upstream sector). The firm maintains a commitment to act as a Ukrainian law counsel in multijurisdictional transactions and global corporate restructuring. This past year the firm conducted legal due diligence of two Ukrainian subsidiaries and advised on Ukrainian corporate law issues Jakala S.p.A. S.B., a portfolio company of Ardian, the leading European independent private equity investment company, in terms of its acquisition of FFW, a Denmark-based company specialising in the marketing strategies. The team provided advice on corporate governance of BDO (Kyiv Strategy Consulting LLC); consulted Citibank Ukraine on various corporate and compliance matters; acts as a legal counsel to Euronet to expand its activity on Ukrainian market. Among other clients of the firm are Ukrgasvydobuvannya, UiPath, Mitsui & Co., Yazaki Ukraine LLC. Partner Albert Sych is a head of the corporate practice and led substantial volume of workload within 2022-2023. English law qualified partner Zoryana Sozanska-Matviychuk heads the M&A practice, and focuses on M&A, private equity and venture capital transactions. US-qualified partner Rob Shantz leads corporate and compliance practices. Associates Natalia Gerus and Kateryna Zheltova were active practitioners of the team. 

Wolf Theiss handles general corporate advisory and transactional advice, including M&A and corporate restructuring. The Kyiv office is regularly assigned alongside other offices of CEE network for multijurisdictional projects. In the research period the firm advised KKR on the acquisition of Ukrainian subsidiaries engaged in solar power production as a part of global M&A transaction; assisted with Ukrainian law matters Ropes & Gray that advised the European private equity firm Astorg on the demerger of Fastmarkets from Delinian (formerly known as Euromoney Institutional Investor plc). Among the examples of corporate structuring assignments was advising Accountor, specializing in software and services for financial and HR management on corporate restructuring of the shareholding in the Ukrainian LLC Accountor Kyiv; advising Ukrmilkinvest, one of the largest Ukrainian dairy producers and the operator of the national Family Dairy Farms project, on structuring and implementing the dairy project across Ukraine. In response to the war outbreak Wolf Theiss advised Vienna Insurance Group on a pro bono basis regarding setting up a charitable foundation in Ukraine for the VIG employees and their families affected by the war. Among other clients of the firm are Biomin, SMOK Ventures II, Coöperatief U.A., Circana, etc. Taras Dumych, managing partner, guides M&A and private equity deals, and possesses expertise in corporate governance matters. Oksana Volynets is an important team member, who has overseen complex M&A transactions, and possesses a profound knowledge of corporate law, securities regulations, and contract law. 

ADER HABER reshaped its corporate practice by assisting clients in establishing representative offices in Ukraine, registering new companies and restructuring existing ones, facilitating shareholders’ agreements, business purchase and sale agreements. The firm advised a private investor in acquiring Higher Education Institution National Academy of Management. Another area of the team’s focus is giving advice on corporate governance and compliance. The firm advised Kyivgaz JSC on structuring the activities of the client’s supervisory board in accordance with new legislative and regulatory requirements on the natural gas supply market; advised SCATEC on corporate governance and compliance. The firm stands out for its legacy expertise in insurance industry, and recently assisted MetLife with streamlining the activities of the supervisory and management boards. In February 2023, Denys Dutchak (previously – Astarta) joined as a partner and headed the corporate, M&A and competition practices. 

Alstellar Law Firm specializes in international corporate structuring and offers expert counsel in corporate and tax matters. The team recently served as the primary legal advisor to Centravis, a leading global supplier of seamless stainless-steel pipes and tubes, facilitating their expansion into the European market; provided strategic legal guidance to UkrLandFarming, a prominent Ukrainian agricultural company, on corporate structuring for their expansion into the UK market. Diverse clientele also takes in Terwin Group, EvoPlay, 1+1 Media, and Coal Energy S.A. Olga Vinglovska, managing partner, is the main contact.

Andriy Kravets & Partners provides comprehensive legal support in corporate matters for various domestic clients, including the agrarian and food industry, trade and insurance. Legal advice spans everyday corporate and regulatory matters, corporate and commercial issues, as well as corporate management. Vladyslav Lyaskovskiy is lead partner.

Ante Law Firm is notably recognized among clients in the aviation, pharmaceutical, and insurance sectors. The team is enlisted for supporting the daily activities of representative offices, handling tasks like registration, liquidation, branch openings, management changes, and corporate structuring. Despite airspace closure since 24 February 2022, due to martial law, the firm continues to assist clients in navigating issues arising from these circumstances. The firm’s pharmaceutical clients are represented by local offices of multinational companies (for example, Sanofi, Perrigo, Servier, Aristo, AbbVie) and Ukrainian companies, operating as importers and distributors of medicines, medical devices and cosmetics (Zdravo Pharmmarketing Company, Labvita). Among recent highlights was advising Sanofi on local companies shares reclassification; legal support to the PJSC Innovative Insurance Capital in all issues related to its activities in Ukraine; advising VAB Logistics LLC on changes of corporate structure and CEO dismissal. Mariia Tereshchenko has unique expertise in insurance. Andriy Guck, managing partner, consistently represents clients in the aviation and pharmaceutical sectors.

The corporate practice of ANTIKA Law Firm encompasses a wide range of matters, including business structuring, reorganization, supporting securities transactions, structuring agreements, obtaining necessary permits, supporting M&A deals and settling corporate disputes. The firm recently advised the Odesa Regional Consumers Association on different legal issues related to the implementation of the new corporate management structure developed within the process of reorganization of business. Clients include AWT Bavaria and IBIS LLC. Dr. Oleksiy Kot, senior partner, is the main point of contact. 

Ukrainian law firm ARMADA advises on corporate governance, organizational and legal issues. The firm supported an investment agreement on the acquisition by Frucom Foods Limited of a 20% stake in the authorized capital of a Ukrainian enterprise engaged in producing and processing agricultural products. Illia Shevchenko, partner, is the main contact. 

The Ukrainian law firm ESQUIRES implements projects for the establishment of companies, provides support for business activities, advises on restructuring and liquidation. During the research period, the firm advised on corporate structuring and restructuring. The firm advised V-Tell Group (UAE) on corporate structure and tax issues of the group’s operations in the UAE, Hong Kong, Switzerland and the United States. Partner Bogdan Prysyazhnyuk is the main contact.

EXPATPRO offers comprehensive legal support for various business aspects, including subsidiary activity, founder representation, and business structuring. The firm is called upon handling startups and corporate agreements, tax planning, due diligence, compliance, daily operational support and relocation. Among the clients are 2021.AI, Vizor Games, LLC, Ozon Technologies. The firm assisted Silvaco Inc. and Silvaco Ukraine with due diligence of Ukrainian company to be merged by US. In 2023, the corporate team dedicated special attention to providing legal assistance for the operations of representative offices belonging to international organizations, public associations, charitable foundations, and volunteers in Ukraine. Notably, Solidar Suisse, Geneva Call, Red Source, and Spearfish are among the new additions to its clientele. Partner Tetiana Yashchenko leads the corporate law and business administration team.

In recent years, ILF Law Firm focused in the main on working with non-profit organizations, including charitable foundations and public organizations, both Ukrainian and foreign. The practice team specializes in corporate affairs taking into account legislation on non-profit organizations and specifics of their activities. In addition, the firm also works with Ukrainian and foreign businesses in the IT and agricultural sectors. The firm has been supporting the reorganization of an enterprise in the woodworking industry by way of merger; conducted legal audit of the activities of a block of non-profit organizations in 2023, funded by an international donor; took part in modeling the mechanism for creating an Integrator (an institutionalized body consisting of community representatives and created to organize, coordinate and implement community health initiatives). Oleksii Holovin, senior associate, is the practice head.

Especially renowned in the IT community, Juscutum Law Firm renders corporate support to companies of IT, tech, e-commerce, and defense tech sectors. The team advises on general corporate and regulatory matters, market entry and wind-up, corporate compliance, as well as support outbound investments, structuring and M&A. In a recent highlight the firm advises the Ukrainian division of Binance on various corporate law issues; supports the Ministry of Digital Transformation with establishing Diia.Business Entrepreneur Support Centers in Ukraine’s Regions, assisting with the centers’ operational setup and providing legal consultations to entrepreneurs through the Diia.Business platform; provides full-scope legal support to Bitfury, the world’s leading full-service blockchain technology company, with respect to entering the Ukrainian market and doing business in Ukraine. In 2023, the firm also handled a strategic M&A transaction involving the acquisition of a chain of gyms in Austria. Dmytro Paliushchenko, head of business law practice, is the main contact.

KM Partners has corporate advisory practice with expertise in handling due diligence, corporate compliance, liquidation, debt-to-equity swap. In 2023, the firm supported international investment and development company on a complex M&A deal on the sale of two Ukrainian companies, as well as several land plots. Since the onset of Russia’s full-scale war, the firm has seen an increase in international humanitarian organizations and NGOs in its client portfolio. The firm has supported the registration of representative offices and offered assistance with diverse corporate issues for several of these clients. Partners Alexander Minin and Maxim Oleksiuk are the main contacts.

Kyiv-based law firm LEGALACT provides comprehensive legal support for corporate and organizational activities. Services include compliance assistance, development of corporate activity plans, and consultation on investment endeavors, notably assisting in the registration of limited liability companies for individuals from various countries. The firm handles transactions related to buying and selling shares and offers expertise in forming and supporting public organizations, charitable foundations, and religious organizations. Notably, the firm engages in pro bono work, providing full legal support for entities such as the Ukrainian Museum Society during martial law. Serhii Haiduk is the practice head.

Vdovychen & Partners advises clients on corporate structuring and incorporation, shareholders agreements, dividends payment, corporate rights sale. Oleg Vdovychen is the main contact.

Renowned Ukrainian law firm AEQUO* was admired by representatives of the legal market for its traditionally strong corporate and M&A practice. The team is recognized for its particularly robust presence in IT, technology, and telecommunications, as well as its strength in energy, real estate, and growing influence in the defense sector. In 2022-2023 the firm acted on a series of M&A mandates, for example, advised Vodafone Ukraine on acquisition of Freenet, provider of fixed internet access services under the “О3” brand; advised Mythical Games, a next-generation gaming technology studio, on Ukrainian law matters in its acquisition of DMarket, a marketplace for trading gaming and esports digital assets; advised Zubr Capital on the attraction of investments in Oro, the No.1 open-source B2B digital commerce solution. Another recent highlight was advising Vast, a pioneer in space habitation technologies focused on expanding humanity across the solar system, on Ukrainian law matters in its acquisition of Launcher, a company that is working on developing an efficient rocket to deliver small satellites to orbit. Partners Anna Babych and Michael Lukashenko are acknowledged for their significant dedication to transactions in the recent poll. Denis Lysenko is a notable figure in the market.[4] 

The market also notes full-service law firm Arzinger* for its stable presence in corporate work for a clientele mix of international and domestic companies.[5]

AVELLUM*, a highly-recognized national law firm, commands a traditional presence in market-leading domestic and cross-border transactions. Market peers commend the firm for its impressive deal record, which spans various sectors. Some public highlights included advising a long-standing client of the firm, Kernel Group, on transaction matters related to the acquisition of a 100% shareholding in Reni-Oil LLC, a sunflower oil transshipment terminal in the Reni port, for the consideration of USD 24.75 million, and on the sale of several of its farming entities to a company controlled by Mr. Andrii Verevskyi. The team is also noted for increasing transactional presence in the IT sector. For example, the firm advised DMarket and its shareholders in connection with its acquisition by Mythical Games. The practice has three partners on board – Mykola Stetsenko, Yuriy Nechayev, and recently promoted Andriy Romanchuk. All of them have garnered positive feedback and endorsement of their professional expertise.

СMS is represented through two offices in Ukraine.

CMS Cameron McKenna Nabarro Olswang* is acknowledged for its robust transactional capabilities, particularly in handling multijurisdictional mandates. The Kyiv practice team is especially noted for its active role in energy and infrastructure sectors. Among public mandates during the research period were assisting the European Bank for Reconstruction and Development on its acquisition of 35% stake in the Lviv M10 industrial park project in Western Ukraine, developed by Dragon Capital; advising FAS Energy on the acquisition of a solar power plant being developed in Kyiv Region from a Ukrainian developer. Kyiv-based partner Tetyana Dovgan has a significant reputation, named as “mega-strong” and comes highly-recommended by peers. Dubai-based senior corporate partner Graham Conlon guides transactions throughout the Middle East, Europe and beyond.

The office of CMS Reich-Rohrwig Hainz* headed by Maria Orlyk is known for rendering corporate advice to companies from German-speaking countries.

Vasil Kisil & Partners* was mentioned during the research as a steadfast market player on the corporate and M&A arena. Among publicly available highlights is advising Public Broadcasting Company of Ukraine (Suspilne Ukraine) on improving its corporate governance, and advising Nibulon on corporate governance enhancement. The firm acted as sole legal counsel to Farmgate, a Dutch-owned farming group, which is one of the biggest grains and oil seeds producers in Khmelnytsky Region, on the transfer of a 95% shareholding in its Ukrainian business to A’SPIK Group, a Ukrainian top 5 sugar company. Volodymyr Igonin, partner, heads the practice. 

Vividly active on the corporate and M&A arena before the full-scale invasion, Roman Shulyar, partner at Ulysses Law, joined the Armed Forces of Ukraine, and then the Ministry of Defense of Ukraine.

Regional Counsel

Odesa-based consulting firm DOMINANTA is enlisted to support asset acquisition, investment in real estate, private acquisitions, including outbound investments, involving assets in Ukraine, Armenia, Azerbaijan and Bulgaria. In particular, the firm represented a Ukrainian businessman by the name of Kuliyev Shamil Yunis Ogly in acquisition of rights to a land plot through purchasing of corporate rights of Blackoil Terminal LLC for commercial use – construction of a shopping center in Ukraine; represented a buyer of warehouse facilities in a seaport in Odesa Region within its sale to Kernel, the largest producer and exporter of sunflower oil. Among the highlights of investment abroad was support of purchase by a private investor of one of the biggest shopping malls in Armenia for USD 21 million. Vitaly Gritsik and Maxim Kobzov are the key figures at this practice.

Cherkasy-based Rezultat Law Firm supports transactions on the sale and purchase of corporate rights by both individuals and legal entities, including non-residents, advising on governance and corporate structures. Among the recent practice highlights were advising Hunter Thomas Ukraine on the sale of corporate rights; assisting Dronebud Cherkasy with forming a corporate structure. Partner Liliia Goncharova is practice head.[6]

The Lviv-based law firm Bachynskyy and Partners is highly-focused on servicing IT companies, and demonstrated a broad client portfolio dominated by IT, military tech, retail, real estate, cosmetology, pharmacy business. Throughout the research period, the team showcased a well-established workflow focused on launching IT businesses, corporate business structuring, creating subsidiaries, structuring joint management, and providing comprehensive legal support and tax structuring for M&A deals in the retail sector in Western Ukraine. Myroslava Kostiv, head of corporate practice, and Solomiya Denys, head and partner of IT and customs practice, are the main figures.

[1] Olha Demianiuk joined Baker McKenzie Switzerland as a partner of corporate M&A team and is the head of the Swiss healthcare and life sciences industry group.

[2] Galyna Zagorodniuk and Alla Kozachenko, partners, corporate, M&A and private equity, departed in July 2023.

[3] Ruslan Sydorovych was elected as a member of the High Qualification Commission of Judges of Ukraine and terminated his partnership with ARIO Law Firm.

[4] The firms marked with asterisk (*) have not submitted information for the current research. The highlights were taken from the public sources to underscore their market presence, a fact consistently confirmed during in-depth interviews.

[5] Anna Zorya joined as a partner in the corporate/M&A department of the Polish law firm Rymarz Zdort Maruta.

[6] Managing partner Maxim Polishkevych joined the Armed Forces of Ukraine in March 2023.