Asters acted as a legal counsel to GE Transportation, a division of the General Electric Company, in connection with a USD 1 billion Framework Agreement with Ukrzaliznytsia, the country’s state-owned rail transport company.
The agreement, which is the largest ever for GE in the country, includes the supply of 30 GE Evolution Series freight locomotives to Ukrzaliznytsia and envisions further delivery of additional locomotive kits over the next decade, as well as the rehabilitation of locomotives in the railway’s legacy fleet and long-term maintenance services.
Asters advised GE Transportation on the execution together with the State Export-Import Bank of Ukraine (Ukreximbank) for the purchase and sale agreement of the first 30 locomotives and their subsequent transfer to Ukrzaliznytsia under a financial leasing agreement.
“This deal demonstrates our expanding global customer base and is a promising step forward in our relationship with Ukrainian Railways, which can serve as a catalyst in attracting international financing and accelerating economic growth in Ukraine,” said Rafael Santana, President & CEO of GE Transportation.
Asters' project team included Counsel Olena Radko and Associate Maksym Tereshchuk led by Senior Partner Armen Khachaturyan.