DLA Piper advised Leroy Merlin on construction and opening of its second hypermarket in Ukraine
DLA Piper advised Leroy Merlin, one of the largest European DIY ("do it yourself") retail networks, on construction and opening of its second hypermarket in Brovarskyi prospect 3V in Kyiv within the frames of Leroy Merlin further expansion in Ukraine.
The project was structured through acquisition of corporate rights in a Ukrainian company having title to land, and further construction of the hypermarket at this land plot.
The scope of legal work included provision of a second opinion on the transaction structure and all transactional documents (including the share and purchase agreement, project management agreement, general contractor agreement, etc), support at negotiations, signing and closing, as well as legal support on various corporate, land, real estate, utilities, and other issues on opening of the Leroy Merlin DIY construction hypermarket.
The team working on this transaction was led by Natalia Kochergina, Partner and Head of Real Estate in Ukraine, and included Dmytro Pikalov, Senior Associate and Sergiy Portnoy, Associate (both - Real Estate practice). Illya Sverdlov, Legal Director (Tax practice) advised on relevant tax issues within the transaction. Illya Muchnyk, Legal Director (Finance & Projects practice) advised on the related escrow agreement and letter of credit.
As Natalia Kochergina commented: "This is the second hypermarket of Leroy Merlin in Ukraine, and we provided full legal support on both. It is expected that in 2014 one more hypermarket will be open, and we advise on that project as well. This is a great example of full support we are able to provide to this leading international company, together with the high standards of work and client service".
