Sorainen Belarus assisted the European Bank for Reconstruction and Development (EBRD) with the sale of its share in Commercial and Industrial Group West-Ost Union, owner of the children’s goods retail chain operating under the “Buslik” trademark (Buslik). The retail chain started operations in 2006 and now holds the leading position in the retail segment of goods for children with 46 stores located in 20 towns across Belarus. According to published data, the annual revenue of the Buslik chain is estimated at over USD 65 million with EBITDA exceeding USD 2 million.
The EBRD sold its share to CDRL S.A. and to the current Buslik CEO and shareholder, Mr Siarhei Misiachenka. CDRL S.A. is a Polish public company listed on the Warsaw Stock Exchange and engaged in design, manufacture, and distribution of clothes. The company owns the Coccodrillo brand and has representation in multiple countries around the world. CDRL is also known for its previous cooperation with the Buslik chain in Belarusian children’s goods retail.
The Sorainen team, consisting of country managing partner Kiryl Apanasevich, senior associate Viktoryia Mikhnevich and associate Aliaksei Vashkevich, assisted the EBRD in the transaction, including preparation of transaction documents, compliance with corporate procedures, as well as during the signing and closing processes.
Back in 2009, Sorainen Belarus also advised the EBRD regarding its equity and debt investments in Buslik.