Kyiv, Ukraine, 16 September 2020 — Baker McKenzie's Kyiv office has advised (legal due diligence) the State Property Fund of Ukraine on the successful privatization of Dnipro Hotel, which was sold at auction on 15 July 2020 with a winning bid of UAH 1,111,111, 222 (equivalent to approximately USD 40.934 million*).
Baker McKenzie's work within this project included a legal audit of Private JSC "Hotel Dnipro" and the preparation of a legal due diligence report on it, which was further provided to the potential investors.
The project was implemented with the support of the American people through the United States Agency for International Development (USAID) under the Competitive Economy Program.
The Baker McKenzie team was led by Kyiv Managing Partner Serhiy Piontkovsky, who was supported by Senior Associate Nataliya Tyschenko and Associates Nadiia Filozop and Andrii Levchenko.
Commenting on this project, Serhiy Piontkovsky said, "We thank the USAID for the opportunity to contribute to this milestone privatization in Ukraine in recent years. I truly hope that the transparent process of privatization of Dnipro Hotel will encourage investors to invest in Ukraine and to start a new wave of development of the Ukrainian economy."
*An exchange rate of UAH 27,1436 per USD 1 is taken for these calculations.