Asters advises IFC on USD 30 million financing to Astarta

Asters acted as a Ukrainian law counsel to the International Finance Corporation (IFC), a member of the World Bank Group, in connection with a USD 30 million loan to Astarta, a leading agricultural producer in Ukraine.

IFC financial support will fund the Company’s two-year investment program aimed at increasing the resource efficiency of its processing plants and the productivity of its farming operations. The funds will go to the modernization of the Company’s sugar plants leading to savings of gas, electricity, and water resources. The program also aims at equipping the Company’s farms with new tractors and modern, fuel-efficient machinery. 

Asters' banking and finance team advising on the project consisted of Partner Iryna Pokanay, Counsel Gabriel Aslanian and Associate Inna Bondarenko.

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Astarta, founded in 1993, is a vertically integrated agro-industrial company specializing in food and agricultural production. The agricultural business focuses primarily on the cultivation of sugar beet, grains and oilseeds, the production of high-quality white sugar and milk, as well as the processing of oilseeds.

IFC – a member of the World Bank Group – is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. 

Asters is a full-service independent national law firm that has maintained a strong presence in Ukraine since 1995. Asters has extensive industry-specific experience and plays a leading role in advising clients in various market sectors. The Firm has consistently remained at the top of the Ukrainian legal market throughout its history. Asters is a winner of Ukraine Law Firm of the Year 2018 award by Who’s Who Legal and a two-time winner of the Law Firm of the Year: Ukraine and the CIS award (The Lawyer European Awards 2014 and 2015). It is also acknowledged as the Law Firm of the Decade by Ukraine's Legal Awards 2016. Asters holds top positions in the most authoritative international and Ukrainian market reviews: The Legal 500, Chambers Global and Chambers Europe, IFLR 1000, Who's Who Legal, Best Lawyers, Expert Guides, and Top 50 Law Firms Annual National Ranking.

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