Company: KYIV
Filing Date: 2025-07-22
Form Type: 424B3
Source: 0001213900-25-066705
Chunk: 441

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-22
Form: 424B3
Chunk 441
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 Holdings. On October 29, 2024, Cohen Circle executed a non -disclosureagreement with an affiliate of VEON Holdings and VEON Group and subsequently representatives of Rothschild & Co and Cohen Circle met telephonically to discuss a potential transaction structure as well as VEON Holdings’ business, strategy, capital needs and potential opportunities of growth. In November of 2024, Ms. Cohen, Mr. Cohen, Ms. Abrams, Mr. Jagota, Mr. Blomstrom and Max Smeal, Cohen Circle’s Chief Financial Officer, met with certain members of VEON Holdings’ management team, including Oleksandr Komarov, Chief Executive Officer of JSC Kyivstar, and Boris Dolgushin, Chief Financial Officer of JSC Kyivstar, to discuss the VEON Holdings’ business and strategy in further detail. On or about such date, Cohen Circle began its formal due diligence review of VEON Holdings, with representatives of Cohen Circle receiving access to a data room established by VEON and VEON Holdings with the assistance of Rothschild & Co. In December of 2024, Ms. Abrams, Mr. Jagota and Mr. Blomstrom met with certain representatives of VEON Group, including Kaan Terzio ğlu, Group Chief Executive Officer, Rt Hon Sir Brandon Lewis CBE, Member of the Board of Directors, Anand Ramachandran, Chief of Staff and Head of M&A and Investor Relations, and others, to discuss a potential transaction. From November 2024 until the announcement of the transaction, Cohen Circle continued to perform due diligence on VEON Holdings, with Ms. Cohen and Ms. Abrams overseeing the process. On December 16, 2024, representatives of Rothschild & Co, on behalf of VEON, provided Cohen Circle with an initial draft non -bindingletter of intent (the “LOI”) with respect to a potential transaction, providing for (i) a proposed valuation of $1.5 billion (excluding capitalized leases and assuming net cash of $560 million), (ii) a minimum cash condition in favor of VEON Holdings of at least $100 million (inclusive of trust proceeds and any PIPE), (iii) Cohen Circle’s right to appoint a board member prior to closing and (iv) the use of a portion of the proceeds to repay a loan note issued by VEON Holdings to VEON Group. 245 On December 18, 2024, Mr. Jagota, on behalf of Cohen Circle and its