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8 October 2010

Asters advises International Finance Corporation on USD 22 million financing to Nova Linia


Asters has acted as a legal counsel to International Finance Corporation (IFC), a member of the World Bank Group, in connection with a USD 22 million loan to Nova Linia, which owns a chain of do-it-yourself ("DIY") hypermarkets in Ukraine.

According to IFC, the project will be implemented over two and a half years and will involve the construction and fitting out of five new DIY stores in Kyiv, Bucha, Odesa, Feodosiya and Sevastopol that will bring the total number of stores operated by Nova Linia to 19.

Asters’ banking and finance team working on this project included partner Iryna Pokanay and associate Gabriel Aslanian.

Commenting on the transaction, Iryna Pokanay said: "We are proud of our long-standing relations with IFC and ability to assist IFC in connection with the new financing, as well as the initial one, bringing IFC's total financing to Nova Linia to $29.5 million. The total project cost is estimated at USD 50 million".



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