Asters acts as a Ukrainian law counsel to the European Bank for Reconstruction and Development (the EBRD) in connection with a long-term loan of up to USD 50 million to Novus. The financing will be used for the expansion of the Novus retail chain in Ukraine.
The EBRD loan will contribute to the development strategy of Novus and finance the construction of seven new stores by 2015. The project aims at organising inter alia direct purchases of certified organic food from Ukrainian farmers and will also help Novus achieve energy savings with the support of financial aid from the Japanese Sustainable Energy Investments Fund.
Asters' team advising on the project consisted of partner Iryna Pokanay and senior associate Gabriel Aslanian.