International Finance Corporation provides UAH 400 million loan to Auchan Retail
Baker McKenzie’s Kyiv office has advised International Finance Corporation, a leading international investor in Ukraine’s private sector, on providing an eight-year loan worth around UAH 400 million (about USD 15 million) to Auchan Retail, which comprises the existing food retail channels in all countries: hypermarkets, convenience stores and e-commerce. With this loan, Auchan Retail will finance its long-term investments in Ukraine to support the development of local supply chains and improve standards in the domestic retail market.
Baker McKenzie’s Kyiv team working on this transaction was led by Kyiv Partner Serhiy Chorny, with key input from Senior Associate Dmytro Orendarets and Associate Ganna Smyrnova.
Commenting on the transaction, Managing Partner Serhiy Chorny noted:
We're honoured to provide legal support to IFC in this milestone transaction which ultimately will foster growth of Ukraine’s retail sector and create new jobs.
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, IFC uses its capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY16, IFC delivered a record USD 19 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit www.ifc.org
About Auchan Retail
Auchan Retail is a part of an unlisted holding company, combining family and employee shareholders. Auchan Holding is organized into three main firms: Auchan Retail, Immochan, and Oney Banque. The role of Auchan Retail is to improve the purchasing power and quality of life of its customers, with responsible, professional, committed and respected employees in all 16 countries in which it operates.