PwC Legal Ukraine provides legal counsel to Dyckerhoff GmbH in squeeze-out procedure
25/03/19
PwC Legal Ukraine team provided legal support to the majority shareholder of PJSC Dyckerhoff Cement Ukraine during the squeeze-out procedure (forced redemption of shares from minority shareholders). The team of experts was involved in the preparation of a step-by-step plan for the implementation of the squeeze-out procedure, the preparation of a package of documents for Dyckerhoff GmbH, talks with the servicing bank on the opening of the Escrow account and provided advice during the implementation of the procedure.
The procedure was implemented in accordance with the best practices of Ukrainian corporate law. Thanks to the support of the PwC Legal Ukraine team, the majority shareholder and the affiliated company now hold 100% stake in PJSC Dyckerhoff Cement Ukraine.
Alexey Katasonov (Partner, Head of Corporate/M&A) led the PwC Legal team. It was comprised of Oleksandra Kostrytsia (Head of Transactions practice), Vadym Romaniuk (senior lawyer, Corporate/M&A), Olga Butnik (senior lawyer, Corporate Law/M&A) and Rostyslav Grybyk (lawyer, Corporate Law/M&A).
Oleksiy Katasonov
Oleksandra Kostrytsia
Head of Corporate and M&A Practice, Attorneys Association "PwC Legal in Ukraine"
+380 44 354 0404
Vadym Romaniuk
Senior Manager, Head of Banking and Finance practice, Attorneys Association "PwC Legal in Ukraine"
+380 44 354 04 04
Olga Butnik
Manager, Banking and Financial Services, Corporate Law/M&A, Attorneys Association "PwC Legal in Ukraine"
+380 44 354 0404
Rostyslav Grybyk
Squeeze-out is a procedure that allows a person, or persons acting jointly, who own(s) 95% or more of the common shares of a joint-stock company (controlling share of stocks), to repurchase ordinary shares of all other shareholders without their consent, thereby accumulating 100% of the shares of such joint-stock company. This progressive mechanism appeared in Ukrainian law relatively recently - in connection with the entry into force on 04.06.2017 of law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine on Increasing the Level of Corporate Governance in Joint Stock Companies" No. 1983-VIII of March 23, 2017.
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