MOSCOW and LONDON, August 12, 2015: Global law firm Morgan Lewis has advised long standing client Sberbank Europe AG, on a €50m ($54.5m) loan to Croatian food producer and retailer Agrokor. Sberbank Europe AG is the Vienna based subsidiary of Russia’s largest bank Sberbank while Agrokor, based in Zagreb, is Croatia’s largest food and beverages producer and retailer.
The loan should be repaid 18 months after signing of the relevant agreement, and is backed by guarantees provided by Agrokor affiliates, including Ledo, its ice cream and frozen food making unit.The facility agreement was signed on July 16th 2015 and marks the successful continuation of the long-term strategic partnership between Sberbank and Agrokor to enhance services in the CEE retail sector and demonstrates Sberbank’s increased activity in the CEE region.
Morgan Lewis lawyers from the Moscow and London offices handled the transaction. The team was led by partners Grigory Marinichev and Amanda Jennings, assisted by associate Alexey Chertov.
Commenting on the deal, Mr. Marinichev said: “We are delighted to have advised Sberbank Europe AG on this financing which is a part of the bank’s long-term strategic partnership with Agrokor. This transaction enhances our firm’s commitment to the financing market in Central and Eastern Europe.”