Sorainen Belarus and Lithuania advised International Finance Corporation (IFC) on provision of a USD 7 million (approx EUR 5.33 million) facility to OMA, a leading Belarusian home improvement goods and DIY (do-it-yourself) retailer and wholesaler jointly owned by Belarusian and European shareholders, including Kesko Group (Finland) and Senukai Group (Lithuania). Currently, OMA has branches in all regional centres and four retail stores (in Minsk, Gomel, Bobruisk and Baranovichi) with a total trading area of approximately 5,100 m2. The IFC facility was for construction of the largest (5,200 m2 total trading area) DIY goods hypermarket, which was recently opened in Minsk, Belarus. The opening ceremony was attended by the Prime Ministers of both Belarus and Lithuania.
The Sorainen team performed limited due diligence on the borrower as well as advising on the implications of Belarusian and Lithuanian law on the loan agreement and other transaction documents. The Sorainen team was led by partner Kiryl Apanasevichand associate Ann Valchok in Belarus and partner Tomas Kontautas and senior associate Tadas Milašius in Lithuania.
