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14 January 2013

Asters Advises International Finance Corporation on USD 16 Million Financing to Agrofusion


Asters acts as a local transaction counsel to International Finance Corporation (IFC), a member of the World Bank Group, in connection with USD 16 million financing to Agrofusion (the "Group"), the largest tomato paste and industrial tomato producer in Ukraine with operational assets based primarily in Mykolaiv and Kherson regions.

The loan will be used to refinance existing short term debt of the Group and to finance incremental permanent working capital. IFC's support of the Group's current capital structure is intended to (i) help a leading Ukrainian tomato paste producer to scale up its export revenues and increase inflow of the foreign currency, (ii) support a viable economic activity and help secure employment in rural area of Kherson region, and (iii) have a demonstration effect on other vegetable producers in Ukraine through promotion of sustainable agricultural practices.

Asters' team advising on the project consisted of partner Iryna Pokanay and associates Gabriel Aslanian and Viktoria Zagreba.



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