Euroventures Ukraine invests into the regional chain of supermarkets

June 29, 2010

Euroventures Ukraine Fund II has finalized an agreement with Avanta and completed the acquisition of approximately 30% of the group of operating companies. Real estate development company Korsando Limited, which is one of EVU-II portfolio companies, co-invested with Euroventures in the real estate component of the transaction.

Avanta, headquartered in Lutsk, is the operating company of a chain of supermarkets which run under the names of Kolibris and NASH! Today the Company is operating 23 supermarkets with a total area of approximately 30 thousand square meters located mostly in cities of Western Ukraine.

The investment proceeds will be used to finance the further growth of the Company and to finance acquisitions.

LLC Law LP (UK) and Andriy Kravets and Partners (Ukraine) acted as legal advisors for EVU-II, while Law Offices of OMP assisted the founders of Avanta.

Press-contacts:

Avanta: Sergiy Golikov, 5 Makarova bylane, the City of Lutsk, Volyn Region (Oblast), 43000, Ukraine, tel. +380 332 789 201

EVU: Valeriy Shchekaturov and/or Leslie Hawrylyshyn, 11, Pushkinska St., apt. 4, Kyiv 01034, Ukraine, tel. +380 44 494 3237, e-mail: info@evu.kiev.ua