Asters has acted as legal counsel to the International Finance Corporation (IFC) in connection with committed and anticipated facilities of up to USD 35 million to Astarta — one of the largest agricultural producers in Ukraine.
Astarta is a leading primary agriculture producer in Ukraine with 245,000 hectares of land under cultivation. The company's principal activities include production of sugar beet and white sugar, production of other crops including wheat, barley, corn, sunflower, and soya, soybean processing, and cattle farming. The company owns and operates 9 sugar plants, soybean processing plant, bioenergy complex, and chain of grain silos and supporting infrastructure facilities in 4 regions in Ukraine.
The IFC will provide corporate financing to Astarta in the form a working capital loan, which will allow Astarta to procure soybeans at the time of harvest for further processing at its soy crushing facility. Astarta will then process this soybean inventory into soy meal, soy oil, and husk, thus creating higher value-added products.
"IFC's financing will support one of the leading agriculture producers in Ukraine, assisting a viable economic activity and securing jobs in rural regions of our country,” said Asters Partner Iryna Pokanay. We are happy to be a part of the project aimed at the further strengthening of the economic development of Ukraine."
Pokanay led the firm’s team on the deal, working with Counsel Gabriel Aslanian and Associate Inna Bondarenko.
Asters did not reply to inquiries about counsel for Astarta.
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