t ransact ions

ukrAvtoDor rEcEIvEs $376m loNg-tErm loAN from russIAN

sBErBANk the state road service of ukraine (ukravtodor) has raised a government- secured $376 million loan from sberbank of russia. A well-informed source told Interfax-

Ukraine that the funds are being raised to reconstruct and build roads, including ones that are to be repaired ahead of the Euro 2012 European football championship. According to an announcement in the

Visnyk Derzhavnykh Zakupivl newspaper, the agreement with the creditor was signed on July 22, 2011. Neither Ukravtodor nor Sberbank of

Russia have disclosed the details of the deal.

Sberbank of Russia works for both private

and corporate clients, and for the latter, the Bank is focused on rendering a wide spectrum of services to enterprises engaged in various sectors of economic activity, including financing trade between Ukraine and Russia. Some of Sberbank’s priority branches

include a fuel-energy complex, iron and nonferrous-metals industry, the chemical and petrochemical industry, and trade. Lavrynovych & Partners Law Firm advised Ukravtodor on this transaction, led by Iryna Marushko, Partner and Olena Zubchenko, Senior Associate. Olena Zubchenko said: “Specific

composition of the transaction parties made it necessary for us to take into account their needs and requests within the transaction. In particular, as long as the loan agreement was guaranteed, we had to meet the requirements of the Ministry of Finance of Ukraine regarding the state guarantee. Moreover, as we have been working with some of the parties for the first time, it was necessary to bear in mind their internal procedures and policies, which sometimes costs much time and care”. fi

vAlEDo pArtNErs closEs vAlEDo II At

$311m valedo partners fund I AB (valedo I) has acquired corbel oy (corbel), a market leader in property management services in finland, from sentica partners. corbel's existing management will continue to run the company and remain as significant owners and with support from valedo implement a strategy for accelerated expansion. corbel is the final investment in valedo I and consequently valedo partners fund II AB (valedo II) has been launched. Corbel provides a comprehensive range

of various facility management services for property owners and investors, such as asset management, leasing, technical and administrative real estate management, financial management services as well as expert services, including energy management and property development. ”Corbel has very exciting future prospect

- our ambition is to accelerate Corbel’s expansion through providing new value-added services to our existing customers as well as through gaining new contracts with property owners that are increasingly outsourcing the administration of their real estate. Over the past few years, Corbel has grown substantially and we look forward to continuing and accelerating this growth plan with the support of Valedo.” says Harri Oesch, CEO of Corbel. Valedo II is, just like Valedo I, a Swedish

private limited liability company (Aktiebolag). Investors in Valedo II are a diverse group of Swedish and international pension funds, insurance companies, family offices, foundations, fund of funds, and entrepreneurs as well as Valedo’s staff and Board of Directors. Terms of the agreed transaction are not disclosed. fi

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vAstNED rEtAIl AcQuIrEs prImE hIgh strEEt shop IN

NIsANtAsI IstANBul pan-European retail property fund vastNed retail has acquired a prime high street shop in the heart of the prestigious Nisantasi shopping area, Istanbul, which boosts the portfolio size in turkey to over € 100 million. VastNed Retail has acquired the entire

property at Abdi Ipekci Caddesi 37, which now hosts three shops. The total property will be redeveloped and later be comprised of close to 2,000 m2 GLA, of which some 1,100 m2 will be retail space. The redevelopment is expected to be realized no later than August 2013. The expected rent level is € 1.4 million per annum. The 700-metre-long Abdi İpekçi Caddesi

is the most prestigious shopping street in İstanbul, Turkey, located in the Nisantasi area of the Şişli district. Taco de Groot, Chief Investment Officer

of VastNed Retail stated: ‘With this transaction we are now present in three prime high streets in the heart of Istanbul. Acquiring a property in the most prestigious shopping street of Turkey fits in perfectly with our efforts to further build our Istanbul portfolio. Based on past experience we feel comfortable that the redevelopment will result in a top quality retail unit appealing to high-end retailers and shoppers.’ Furthermore, a lease has been signed

with a fashionable café operator for the first and second floors of the prime high street shop on Istiklal Caddesi 119, Istanbul, resulting in 100% occupancy for the current Istanbul portfolio in operation. fi

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OCTOBER 2011