Paine Stevens

Paine Stevens was founded in 2012 in Tbilisi. The firm offers English-law capabilities in Georgia and specialises in providing English law legal advice to companies in central Asia and the Caucasus region. The firm, which is led by Benjamin Paine, also partners with local law firms to provide a full range of corporate services to clients in the region.

Highlights

The firm regularly advises the Asian Development Bank (ADB) on its activities in Georgia and further afield in the region.

In one example, the firm worked alongside international counsel to advise the ADB as a shareholder in the Bank of Georgia’s majority acquisition of Ameriabank, which included an option to acquire the remaining minority stakes.

The firm had also represented the ADB on a series of credit facilities. Among deals was a $5 million credit facility to Microfinance Organization Arnur Credit in Kazakhstan, and a $10 million loan to Azerbaijan grocery retail outlet Araz Supermarket MMC, to fund the expansion of a dry warehouse and to open new stores around Baku.

Key clients

Asian Development Bank, AA Services and Bolashak Group