VEON Completes Reorganization Ahead of Kyivstar’s Planned Nasdaq Listing
VEON (Nasdaq: VEON) has completed its reorganization of VEON Holdings B.V. and consent solicitation process, marking a important step toward Kyivstar Group 's planned Nasdaq listing under the ticker symbol KYIV. The reorganization included a legal demerger in the Netherlands, focusing VEON Holdings B.V. exclusively on Kyivstar and related assets, while transferring other core businesses to new Dutch entities.
The company successfully secured unanimous approval from its 2027 bondholders to transfer the issuer from VEON Holdings B.V. to VEON MidCo B.V., with 95.83% of bonds represented at the January 30, 2025 meeting. This restructuring facilitates the proposed business combination with Cohen Circle Acquisition Corp. I, positioning Kyivstar Group , the parent company of Ukraine's leading digital operator, for its upcoming Nasdaq debut.
VEON (Nasdaq: VEON) ha completato la sua riorganizzazione di VEON Holdings B.V. e il processo di richiesta di consenso, segnando un passo importante verso la prevista quotazione di Kyivstar Group al Nasdaq con il simbolo KYIV. La riorganizzazione ha incluso una scissione legale nei Paesi Bassi, concentrando VEON Holdings B.V. esclusivamente su Kyivstar e beni correlati, mentre altri core business sono stati trasferiti a nuove entità olandesi.
L'azienda ha ottenuto con successo l'approvazione unanime dei suoi obbligazionisti 2027 per trasferire l'emittente da VEON Holdings B.V. a VEON MidCo B.V., con il 95,83% delle obbligazioni rappresentate nella riunione del 30 gennaio 2025. Questa ristrutturazione facilita la proposta di fusione con Cohen Circle Acquisition Corp. I, posizionando Kyivstar Group, la società madre del principale operatore digitale dell'Ucraina, per il suo imminente debutto al Nasdaq.
VEON (Nasdaq: VEON) ha completado su reorganización de VEON Holdings B.V. y el proceso de solicitud de consentimiento, marcando un paso importante hacia la prevista cotización de Kyivstar Group en Nasdaq bajo el símbolo KYIV. La reorganización incluyó una escisión legal en los Países Bajos, enfocando a VEON Holdings B.V. exclusivamente en Kyivstar y activos relacionados, mientras se transfirieron otros negocios centrales a nuevas entidades holandesas.
La compañía logró obtener la aprobación unánime de sus tenedores de bonos 2027 para transferir el emisor de VEON Holdings B.V. a VEON MidCo B.V., con el 95,83% de los bonos representados en la reunión del 30 de enero de 2025. Esta reestructuración facilita la propuesta de combinación de negocios con Cohen Circle Acquisition Corp. I, posicionando a Kyivstar Group, la empresa matriz del principal operador digital de Ucrania, para su próximo debut en Nasdaq.
VEON (Nasdaq: VEON)은 VEON Holdings B.V.의 재편성과 동의 요청 프로세스를 완료하여 Kyivstar Group의 예정된 Nasdaq 상장에 중요한 이정표를 세웠습니다. 이 재편성에는 네덜란드에서의 법적 분할이 포함되어 VEON Holdings B.V.를 Kyivstar 및 관련 자산에만 집중시키고, 다른 핵심 사업은 새로운 네덜란드 법인으로 이전되었습니다.
회사는 2027년 채권자들로부터 VEON Holdings B.V.에서 VEON MidCo B.V.로 발행자를 전환하기 위한 만장일치 승인을 성공적으로 확보했으며, 2025년 1월 30일 회의에서 95.83%의 채권이 대표되었습니다. 이 구조조정은 Cohen Circle Acquisition Corp. I와의 제안된 사업 결합을 용이하게 하여, 우크라이나의 주요 디지털 운영자의 모회사인 Kyivstar Group이 다가오는 Nasdaq 데뷔를 준비할 수 있도록 합니다.
VEON (Nasdaq: VEON) a achevé sa réorganisation de VEON Holdings B.V. et le processus de sollicitation de consentement, marquant une étape importante vers la cotation prévue de Kyivstar Group au Nasdaq sous le symbole KYIV. La réorganisation a inclus une scission légale aux Pays-Bas, concentrant VEON Holdings B.V. exclusivement sur Kyivstar et les actifs associés, tout en transférant d'autres activités centrales à de nouvelles entités néerlandaises.
L'entreprise a obtenu avec succès l'approbation unanime de ses obligataires 2027 pour transférer l'émetteur de VEON Holdings B.V. à VEON MidCo B.V., avec 95,83 % des obligations représentées lors de la réunion du 30 janvier 2025. Cette restructuration facilite la proposition de combinaison d'affaires avec Cohen Circle Acquisition Corp. I, positionnant Kyivstar Group, la société mère du principal opérateur numérique d'Ukraine, pour son prochain lancement sur le Nasdaq.
VEON (Nasdaq: VEON) hat seine Reorganisation von VEON Holdings B.V. und den Genehmigungsprozess abgeschlossen, was einen wichtigen Schritt in Richtung der geplanten Nasdaq-Notierung von Kyivstar Group unter dem Tickersymbol KYIV darstellt. Die Reorganisation umfasste eine rechtliche Abspaltung in den Niederlanden, wobei VEON Holdings B.V. sich ausschließlich auf Kyivstar und verwandte Vermögenswerte konzentrierte, während andere Kernunternehmen an neue niederländische Gesellschaften übertragen wurden.
Das Unternehmen sicherte sich erfolgreich die einstimmige Genehmigung seiner Anleihegläubiger von 2027, um den Emittenten von VEON Holdings B.V. auf VEON MidCo B.V. zu übertragen, wobei 95,83 % der Anleihen bei der Sitzung am 30. Januar 2025 vertreten waren. Diese Umstrukturierung erleichtert die vorgeschlagene Unternehmenszusammenführung mit Cohen Circle Acquisition Corp. I und positioniert die Kyivstar Group, die Muttergesellschaft des führenden digitalen Betreibers der Ukraine, für ihr bevorstehendes Debüt an der Nasdaq.
- Unanimous bondholder approval for restructuring indicates strong stakeholder support
- Strategic separation of Kyivstar assets positions for dedicated market valuation
- Upcoming Nasdaq listing could improve market visibility and access to capital
- Complex corporate restructuring may create temporary operational challenges
- Additional listing-related expenses and regulatory compliance costs
Dubai, April 8, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator, has successfully completed the reorganization of VEON Holdings B.V. and finalized its consent solicitation process, first announced on January 13, 2025. These steps pave the way for the proposed business combination with Cohen Circle Acquisition Corp. I, which is expected to lead to Kyivstar Group Ltd., the parent company of Ukraine’s leading digital operator Kyivstar, listing on the Nasdaq under the ticker symbol KYIV.
The reorganization involved a legal demerger in the Netherlands, as a result of which VEON Holdings B.V. is now focused solely on Kyivstar and related assets. VEON’s other core businesses have been transferred to newly formed Dutch entities.
As part of this process, VEON also secured approval from holders of its 2027 bonds (ISIN: Reg S: XS2824764521/ Rule 144A: XS2824766146) to transfer the issuer from VEON Holdings B.V. to VEON MidCo B.V. At a meeting held on January 30, 2025,
More details are available on VEON’s investor relations website: veon.com/investors.
About VEON
VEON is a Nasdaq-listed digital operator that provides connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than
About Kyivstar
Kyivstar is Ukraine's largest digital operator, serving more than 23 million mobile subscribers and over 1.1 million Home Internet fixed line customers subscribers as of December 31, 2024. Kyivstar provides services across a wide range of mobile and fixed line technologies, including 4G, big data, cloud solutions, cybersecurity, digital health services, digital TV and more. Together with VEON, Kyivstar has jointly committed to invest USD 1 billion into the development of the Ukrainian economy from 2023 to 2027. Kyivstar has allocated over UAH 2 billion over the past two years to help Ukraine overcome wartime challenges, including providing support for the Armed Forces, its employees and social projects. Kyivstar has been operating in Ukraine for 27 years and is recognized as a leading employer and a top contributor to socially important initiatives in Ukraine.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the transactions mentioned herein or the proposed transaction with Cohen Circle. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Forward-Looking Statements
This release contains “forward-looking statements”, as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements relating to, among other things, the proposed business combination with Cohen Circle (the “Business Combination”), including the execution and timing of entering into a definitive agreement in connection with the Business Combination and the listing of Kyivstar on Nasdaq. These statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause VEON’s or Cohen Circle’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements in this press release, including, but not limited to, the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed Business Combination; the outcome of any legal proceedings that may be instituted against VEON Ltd., any of its subsidiaries or others following the announcement of the proposed Business Combination; the inability to complete the Business Combination due to the failure to obtain the necessary board and shareholder approvals or to satisfy other conditions to closing; changes to the proposed structure of the Business Combination or the contemplated reorganization that may be required or appropriate as a result of applicable laws or regulations; the ability to meet stock exchange listing standards prior to consummation of the Business Combination; the risk that the Business Combination disrupts current plans and operations of VEON Ltd. as a result of the announcement and consummation of the Business Combination; the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and the ability to retain its management and key employees; costs related to the Business Combination; changes in applicable laws or regulations; and other risks and uncertainties expected to be set forth in subsequent filings in the event of the entry into a definitive agreement for the Business Combination, including a proxy statement and or prospectus relating to the Business Combination expected to be filed by Cohen Circle and/or a newly-formed holding company of Kyivstar in the event of the entry into a definitive agreement for the Business Combination. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.
Additional Information and Where to Find It
In connection with the Business Combination, the combined company will file a registration statement, of which a proxy statement/prospectus will form a part, with the SEC. The definitive proxy statement/prospectus and other relevant documents will be sent or given to Cohen Circle’s shareholders as of a record date to be established for voting at Cohen Circle’s shareholder meeting relating to the Business Combination. Cohen Circle and the combined company may also file other documents regarding the Business Combination with the SEC. This press release does not contain all of the information that should be considered concerning the Business Combination and is not intended to form the basis of any investment decision or any other decision in respect of the Business Combination. Cohen Circle’s shareholders and other interested persons are advised to read, when available, the registration statement of the combined company and the proxy statement/prospectus which will form a part thereof and any amendments thereto and all other relevant documents filed or that will be filed in connection with the Business Combination, as these materials will contain important information about Kyivstar, VEON, Cohen Circle, the combined company and the Business Combination. The registration statement of the combined company and the proxy statement/prospectus which will form a part thereof and other documents that are filed with the SEC, once available, may be obtained without charge at the SEC’s website at www.sec.gov or by directing a written request to: Cohen Circle Acquisition Corp. I, 2929 Arch Street, Suite 1703, Philadelphia, PA 19104.
Participants in the Solicitation
Cohen Circle, Kyivstar, certain shareholders of Cohen Circle, VEON and certain of Cohen Circle’s, Kyivstar’s and VEON’s respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitation of proxies from the shareholders of Cohen Circle with respect to the Business Combination. A list of the names of such persons and information regarding their interests in the Business Combination will be contained in the registration statement of the combined company and the proxy statement/prospectus which will form a part thereof, when available. Shareholders, potential investors and other interested persons should read the registration statement of the combined company and the proxy statement/prospectus which will form a part thereof carefully when they become available and before making any voting or investment decisions. Free copies of these documents may be obtained from the sources indicated above, when available.
Contact Information
Hande Asik
Group Director of Communications
FAQ
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