Peterka & Partners has advised Tikkurila Oyj, a Northern European paint company, on the June 20, 2016 sale of its Ukrainian and Belarusian subsidiaries to OU FarbaHouse, a company established by Tikkurila's local management.
The new company will continue the distribution of Tikkurila's products in both countries. The total consideration for the sold shares is approximately EUR 6.8 million, consisting of cash consideration and an interest-bearing seven-year vendor loan arrangement.
According to Peterka & Partners, the firm provided Tikkurila, "with the full range of legal services within the following project, including advising on M&A, Corporate, Competition, Labour law and analysis of all necessary contracts and agreements.” The Peterka & Partners legal support, it reported, "covered preparation of a memorandum on various legal aspects of the transaction in Ukraine, drafting documents related to the transaction itself (share transfer agreements, corporate approvals and implementation instruments, articles of association etc.), amending the general SPA to meet local law requirements, advising the client on various aspects related to the change of business model in Ukraine and change of shareholders of the Ukrainian entity (including also competition and labour law implications), drafting contracts related to assignment of receivables and to securing the purchaser’s obligations under the vendor loan agreement; accomplishment of all local formalities and all necessary registration actions."
Peterka & Partners reported that it was unable to disclose the firm that advised FarbaHouse on the transaction.
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