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22 May 2013

Asters Acts as a Counsel to IFC in Connection with its EUR 54 Million Financing to Axzon A/S

Asters acts as a Ukrainian law counsel to the International Finance Corporation (IFC), a member of the World Bank Group, in connection with its EUR 54-million debt and equity financing to Axzon A/S, a leading Eastern European pork producer.

The proposed project is to support the expansion of Axzon's business in Ukraine. In its turn, the company's expansion will help it double its production and tap into Ukraine's growing – and undersupplied – pork market and create hundreds of jobs in the rural western region of Ivano-Frankivsk. Additionally, IFC's financing will support the construction of three biogas power plants in Poland.

Axzon, founded in 1994 in Poland by Danish farmers, is a top-three pork producer both in Poland and Ukraine. Its environmentally friendly operations include inter alia pig farming and biogas production.

Asters' team working on the project consisted of partner Iryna Pokanay and senior associate Gabriel Aslanian.

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