Just before the new 2021-year eve, KDD Group and Kovalska have announced the start of their new construction project – NUVO business park on Zhylyanska street in Kyiv within the territory of the former industrial zone of about 20,000 m2 in area. The project includes five A-class office centers, business-class housing and apartments. The commercial area of the business park exceeds 88,000 m2. The acquisition price was $15m. KDD Group and Kovalska investments in the construction of the park will be approx. $100m within the next 5 years.
Site acquisition transaction was launched yet in the end of 2019. Vasil Kisil & Partners acted as the project's chief legal advisor and represented the buyers on all legal issues regarding structuring of the deal, negotiating and drafting all necessary documents for acquisition of shares in the capital of Ukrainian company owning land plot for the business park construction. The deal structure also provided for repayment of the company's debts to its members, beneficiaries and Ukrainian banks, tax planning involving a corporate venture fund on the seller's side, clearing the company and land of various tax and other risks and encumbrances etc.
The team advising on the project included Alexander Borodkin, partner and Roman Yemets, associate.