Sorainen Belarus advised International Finance Corporation on sale of the rest 4.99% of its shares in Belarusky Narodny Bank. Two deals with total amount of more than USD 2 million were concluded at Belarusian Currency Stock Exchange (BCSE) on 28 December 2017 under the consent of the National Bank of the Republic of Belarus.
The team which included office managing partner Kiryl Apanasevich and senior associate Viktoryia Mikhnevich advised on the procedure for sale of the shares, including obtainment of necessary authorisations and operation of the BCSE, reviewed the transaction documents, coordinated the process of making the deal on the BCSE and transfer of the shares, as well as the brokers and depository involved, and advised the client on other related issues.
Earlier Sorainen Belarus advised IFC during acquisition of 19.9 % of the BNB’s equity in 2010 and then on the first disposal of the part of its shares earlier in 2017.
The IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries. Belarusky Narodny Bank is a mid-size Belarusian bank focusing on small- to medium-sized business.