Eurotorg

completed

The project is the expansion of the Belarusian retail food chain LLC Eurotorg (“Eurotorg” or the “company”) (the “project”). The project will enhance the company’s presence throughout the country and broaden its consumer base.Headquartered in Minsk, Belarus, Eurotorg is the largest food retailer in Belarus, with 438 stores throughout the country (as of January 1, 2016) and a total trade area of 256,500 square meters (“sqm”). The company is a multi-format chain which operates five store formats ranging from small convenience stores to hypermarkets, all under the brandname “Euroopt”. 47% of stores’ total space are rented, and 53% are owned by Eurotorg (predominantly large formats). The project envisages further network expansion, mainly in small and medium formats, and predominantly in leased space. Eurotorg also operates a chain of electronics and white goods stores “Techno Plus” nationally and started its online sales of grocery and general merchandise categories in August 2014. The company has an established nation-wide logistics system with 6 distribution centers and satellite warehouses for total warehouse space of 108,000 sqm. Total project cost is estimated at US$291 million (2016-2019), including approximately US$91 million for new store openings and US$200 million in refinancing. The proposed IFC financing is an equity investment of up to $55 million. Investments will be made throughout Belarus.