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Sorainen Belarus advised the International Finance Corporation (IFC) in connection with its lending of an amount of BYN equivalent to USD 10 million to Priorbank. The loan is aimed at supporting the borrower’s working capital, as well as its trade-related lending programme for Belarusian small and medium enterprises (SMEs) in direct response to the COVID-19 […]
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We advised Estonian payment service provider Wallester in submitting an application to the Estonian Financial Supervision and Resolution Authority (Estonian FSA) to provide services cross-border in all EU and EEA states. Unique business model Wallester has a unique business model, being a licensed white label VISA Card issuer and the payment provider specialising in offering transaction processing […]
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Deals & Cases / Ann Laevskaya, Kiryl Apanasevich, Artem Melnikovich, Viktoryia Mikhnevich
We advised Getin Holding, a Polish company listed on the Warsaw Stock Exchange, on the sale of its shares in Idea Bank, based in Belarus. On 1 April 2021 Getin Holding and its subsidiary Getin International completed the sale of their 99.999% stake in Idea Bank to MTBank for BYN 50,000,000. Getin Holding S.A. Capital […]
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Virtual currency service providers will have to go through another licensing renewal process with the introduction of a new draft legislative act in Estonia. This time a year ago, virtual currency service providers were busy getting ready for a regulation which ended up causing the revocation of over 1,800 licenses. There are 396 existing licence […]
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Sorainen Latvia advised Luminor on taking over a client portfolio in Latvia from Danske Bank’s branch in Lithuania. About the transaction Rūdolfs Eņģelis, head of the firm’s Finance & Insurance practice group, commented, “It is encouraging to observe that the number of complex transactions is gradually increasing in the Latvian financial market, thus confirming the […]
