Deals | Ukraine – Projects

Gide Kyiv office advises Air Liquide, the world leader in gases for industry, healthcare and the environment, listed on the Paris Euronext Stock Exchange, on the first stage of its investment project comprising the supply of industrial gases to the steel industry in Ukraine and construction of an air separation plant at Yenakievo Iron and Steel Works in Donetsk region in south-eastern Ukraine.

On June 17, 2011 Air Liquide signed a long-term contract with Yenakievo Iron and Steel Works, a subsidiary of Metinvest Holding – the Ukrainian steel industry leader – for the supply of industrial gases to its iron and steel plant based in Yenakiyevo, Donestk Oblast. Air Liquide is planning to invest in a new state-of-the-art air separation unit to produce and supply liquid gases to Yenakievo Iron and Steel Works and other steel industries in the country. The overall investment is around EUR 100 million. The project includes a EUR 85 million senior long term loan by the European Bank of Reconstruction and Development.

Assistance of Gide Loyrette Nouel included legal due diligence of the existing air separation unit, preparing and assisting in negotiations of the long-term gases supply agreement, sale and purchase agreement over real estate, services and other agreements. Gide Loyrette Nouel advised cooperation with Latham & Watkins London Air Liquide also on the related project financing of EUR 85 million arranged by the European Bank of Reconstruction and Development (EBRD).

The team of Gide Loyrette Nouel Kyiv was led by Karl Hepp de Sevelinges (Partner), together with Bertrand Barrier, Illya Tkachuk, Inna Kostrytska (all corporate) and Igor Krasovskiy (finance).EBRD was represented by Salans law firm. Metinvest: Igor Golchenko (inhouse) and Clifford Chance. Air Liquide: Muriel Serre (inhouse).