Vasil Kisil & Partners Advises Avrora Group on Investments from Horizon Capital
Vasil Kisil & Partners acted as a legal counsel to Avrora Group in a transaction where Horizon Capital private equity fund purchased a minority shareholding in Avrora. The project started in 2020, and the beginning of July 2021 marked completion of the transaction and the transferred of shares to the investor.
Vasil Kisil & Partners assisted on corporate structuring of the Group before the transaction, acted for Avrora in negotiations, drafted transaction agreements together with the legal counsel of the investor, and advised on financing and trade matters. Our team also represented Avrora Group in merger clearance of the transaction with the Antimonopoly Committee of Ukraine.
“We are happy that such a respectful minority investor as Horizon Capital has joined our business. We are going to create 10,000 jobs and open one more Ukrainian business as well as Ukrainian manufacturers to a global market. The professional team of our legal counsel, Vasil Kisil & Partners, has been proactive 24/7 doing all that is necessary to complete this transaction on common grounds and with maximum value to all stakeholders,” comments Taras Panasenko, СЕО, Avrora Group.
“Our team was very pleased to contribute to the successful completion of this promising project. This is a benchmark example of smooth cooperation between various teams involved in the transaction at all levels. We strongly support successful and progressive and value-based businesses in Ukraine. Cooperating for dreams is one of Avrora’s values. Attracting the investor to accomplish a common aim is evidence of that,” said Volodymyr Igonin, Partner and Head of Corporate and M&A at Vasil Kisil & Partners.
The team working on the corporate and M&A part of the transaction included Volodymyr Igonin, Partner, and Artem Shmatov, Associate. Anna Sisetska, Partner of Antitrust/Competition and Trade and Commercial practice areas, and Yevhenii Senchenko and Iryna Savchuk, Associates, worked on merger clearance with the Antimonopoly Committee and trade matters.
Avrora is a leading dollar store retail chain in Ukraine. Founded in Poltava in 2011, the Company has grown to circa 650 locations. Led by a visionary team, Avrora leverages a progressive, tech-driven approach in running its business, enabling the Company to grow at an accelerated pace, expanding store-count by over ten times during the last six years.
Horizon Capital is a leading private equity firm in Emerging Europe, managing funds with over $1.1 billion in assets under management and a tenure of 27 years in the region. The firm is a growth equity investor, backing visionary entrepreneurs leading transformational businesses in Ukraine and the near region.