Vasil Kisil & Partners advise Mondelez International on squeeze-out of minority shareholders in Mondelez Ukraine PrJS

Vasil Kisil & Partners advised on buy-out of minority shareholdings through squeeze-out procedure, which succeeded in 1,975 shares of Mondelez Ukraine PrJSC being credited to the securities account of its controlling shareholder Kraft Foods Entity Holdings B.V.

To improve effectiveness of governance Kraft Foods Entity Holdings B.V. decided to buy out shares (squeeze-out) of minority shareholders in Mondelez Ukraine PrJSC.

Vasil Kisil & Partners acted for the majority shareholder and provided full legal support throughout the squeeze-out procedure. That covered elaborating the detailed action plan, communications with the bank on opening the escrow account, drafting all documents required by law, including an irrevocable public demand for buy-out of shares, etc. The lawyers have also advised the company on interaction with the National Securities and Stock Market Commission, Central Depository and other depository institutions, public enforcement officer and other entities involved in the procedure.

The project team included partner Alexander Borodkin and associate Taisiia Asadchykh.

Mondelez Ukraine PrJSC is part of Mondelez International group of companies, one of the world's largest producers of chocolate products, cookies, candies, and chewing gums. Kraft Foods Entity Holdings B.V. operates as a subsidiary of Mondelez International. The company's Ukrainian assets also include Trostianets Confectionery Factory in Sumy Region, a production unit of Mondelez Ukraine PrJSC, and Chips Lux subsidiary in Kyiv Region. The company produces and sells products under such trademarks as Korona, Milka, Barni, TUC, Belvita!, Lux, Halls, Dirol and Picnic.