Sorainen Belarus advised International Finance Corporation on sale of the part of its shares in Belarusky Narodny Bank. The deal was concluded at Belarusian Currency Stock Exchange (BCSE) on 14 February 2017 upon prior consent of the National Bank of the Republic of Belarus.
The team which included 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 with regard to acquisition of 19.9 % of the BNB’s equity in 2010.
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.