Redcliffe Partners/Clifford Chance acted as legal adviser to EBRD on becoming a 30% shareholder in Raiffeisen Bank Aval JSC ("RBA"), one of the leading universal banks in Ukraine and a subsidiary of Raiffeisen Bank International AG ("RBI"). Redcliffe’s team acted as Ukrainian law counsel to EBRD.
Redcliffe Partners advised on the implementation of the project, which was secured by the agreement signed in Kyiv on 25 November, 2015. According to the document, EBRD and RBI will participate in the increase of Tier 1 capital of RBA by UAH 3.15 billion (EUR 122 million). EBRD becomes an equity partner and, together with RBI, will boost the capital base of RBA.
Redcliffe Partners’ team advising on this project was led by the Managing Partner, Olexiy Soshenko together with Counsel, Zoryana Sozanska-Matviychuk and Junior Associate, Olesia Mykhailenko. Rafał Zakrzewski, a Counsel from Clifford Chance's Warsaw office advised EBRD on English law matters of this transaction.