London/Kyiv, 19 May 2008 - Baker & McKenzie has advised MHP S.A., holding company for the Myronivsky Hliboproduct Group, on its initial public offering of GDRs. The IPO, which was pursuant to Rule 144A and Regulation S, raised US$322 million and the GDRs were listed on the London Stock Exchange.

Myronivsky Hliboproduct is one of the leading agroindustrial companies in Ukraine and the country's largest poultry producer, with a 36% market share.

The IPO was lead managed by Morgan Stanley and UBS.

Edward Bibko, capital markets partner at Baker & McKenzie, said: ''Our client's successful completion of its IPO - the second largest Ukrainian IPO ever - represents a significant event for Ukraine. In the current market conditions, it is a testament to the quality of the company's business and continued strong investor interest in Ukraine. We represented Myronivsky on its previous Eurobond offering and were pleased to have again represented them in this IPO.''

James Hitch, managing partner of the Kyiv office, added: “This transaction has proved again our global capabilities to navigate a complex transaction across boundaries and it is a vivid example of us demonstrating fluency in the work of our London and Kyiv offices for the success of this IPO.”

The Baker & McKenzie team was led by partner Edward Bibko and included associate Iryna Nagayets in London. Associates Mykola Stetsenko and Olha Movchan, under the supervision of partner James Hitch in Baker & McKenzie Kyiv, provided local law advice.