NEQSOL’s $734 Million Acquisition of Vodafone Ukraine

DLA Piper advised NEQSOL on the acquisition of Vodafone Ukraine and on the acquisition financing.

NEQSOL executed the acquisition of Vodafone Ukraine (VF Ukraine) from Russian telecommunications operator MTS Group for USD$734 million, including a.c. USD$84 million of earn-out payment.

NEQSOL raised the acquisition financing for the deal from a group of international funds and financial institutions led by J.P. Morgan Securities Plc and Raiffeisen Bank International A.G.

VF Ukraine operates in Ukraine under a brand licence from Vodafone Group plc and is one of the largest mobile network operators in Ukraine with c. 20 million subscribers.

The cross-practice, multiple office team was led out of DLA Piper’s London office by Corporate partner Ben Forgiel-Jenkins (Picture) and IPT partner Mike Conradi and out of Kyiv by Corporate partners Alla Kozachenko and Galyna Zagorodniuk and Tax partner Illya Sverdlov. The acquisition financing aspects of the deal were led by Finance partner Mark Dwyer in London and Dmytro Pshenychniuk in Kyiv.

The NEQSOL transaction team, which worked closely with DLA Piper throughout, was led by Emin Karimov (General Counsel, NEQSOL), Imran Ahmadzada (Chief Financial Officer, NEQSOL) and Rishad Aliyev (Deputy CFO of Bakcell, the Azerbaijan telecommunications operator which is also owned by NEQSOL).

Involved fees earner: Mike Conradi – DLA Piper; Mark Dwyer – DLA Piper; Ben Forgiel-Jenkins – DLA Piper; Alla Kozachenko – DLA Piper; Dmytro Pshenychniuk – DLA Piper; Illya Sverdlov – DLA Piper; Galyna Zagorodniuk – DLA Piper;

Law Firms: DLA Piper;

Clients: NEQSOL;