EBRD will provide Astarta with 80M USD
2011-07-29 14:56:13
Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved the issuance of the loan to one of the largest producers of sugar the agro-holding Astarta with up to 80M USD according to a leading advisor to the EBRD Anton Usov.
Funds obtained will be used by the company to build dairy farm as well as to expand the land bank (currently it is approximately 225 hectares).
At the end of 2010 Astarta increased net profit by 2.7 times to 80.04M EUR, consolidated revenues grew by 71% to 219.33M EUR. The main owners of Astarta are entrepreneurs Victor Ivancsik (36.99%) and Valery Korotkov (25.99%) 37.02% shares of agricultural holdings are in free circulation.