Aequo acted as the Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) in connection with securing a loan of USD 20,000,000 secured for Ukrainian subsidiaries of Astarta Group, Ukraine’s leading agribusiness operator and sugar producer (Astarta).
The proceeds from the loan will be utilised for Astarta’s working capital needs. Astarta will employ modern IT solutions necessary for the precision farming it is promoting in Ukraine. Within the scope of the project, Astarta will also offer a high-quality, comprehensive training programme to high school graduates and students willing to work in the agribusiness sector in Ukraine.
Aequo lawyers assisted with the drafting and execution of financing documentation and numerous security agreements, and issued the legal opinion in favour of EBRD. In addition to Ukrainian law, the project included English, Dutch and Cypriot law matters.
“We are delighted to assist EBRD with this interesting and large-scale transaction. We believe that the loan granted by EBRD will help Astarta to implement many positive developments to increase land productivity in an eco-friendly manner. This is the landmark project for the Ukrainian agribusiness and we are honoured to be a part of it,’’ commented Yulia Kyrpa.