CMS has advised the European Bank for Reconstruction and Development (EBRD) on Ukrainian and English law aspects of a USD 25m senior loan to Varus Group, one of the leading food retail chains in Ukraine.<\/p>\n
Varus Group operates 117 stores primarily in the Dnipro and Kyiv regions of Ukraine, with further limited presence in the Zaporizhzhia and Odesa regions. The financing is intended to support its sustainable expansion, enhance supply chain stability and ensure business continuity.<\/p>\n
The EBRD\u2019s financing effectively bridges a financing gap due to adverse market conditions resulting from the Russia-Ukraine war.\u00a0The financing will help protect the livelihoods of Varus Group\u2019s current employees, while also boosting employment opportunities and job quality for people with disabilities and other war affected groups.<\/p>\n
Ihor Olekhov, Banking & Finance partner, comments<\/strong>: \u201cAs a long-standing client, and Ukraine\u2019s largest institutional investor, we\u2019re delighted to have advised EBRD on this financing. This important investment will contribute to the resilience of the Ukrainian private sector and will also help address risks to the vital local food supply.\u201d<\/em><\/p>\n Rafa\u0142 Zakrzewski, Banking & Finance partner, comments: <\/strong>\u201cThis is another great example of ongoing investment into Ukrainian businesses, and we\u2019re very pleased to have supported<\/em> EBRD on the English and Ukrainian law aspects of this financing. At CMS, our team has an extensive footprint across Central and Eastern Europe, and we remain well-placed to advise on complex infrastructure investments across the region, including in Ukraine.\u201d<\/em><\/p>\n The CMS team was led by Ihor Olekhov<\/strong> and Rafa\u0142 Zakrzewski<\/strong> and included Bohdan Ilchenko<\/strong>, Artem Lukyanov<\/strong> and Iryna Barlit<\/strong> (Banking & Finance).<\/p>\n -END-<\/p>\n