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Asters Advises BSTDB on Financing Novotel Construction in Ukraine

Asters Advises BSTDB on Financing Novotel Construction in Ukraine

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Asters has advised the Black Sea Trade and Development Bank on its EUR 8 million financing to the Real Estate Development Centre for the construction of a 128-room hotel in Lviv, Ukraine.

"The loan will be used for the construction, equipping, and commissioning of a 128-room hotel under the Novotel brand, an international mid-range brand for business and leisure travelers," Asters informed.

The BSTDB is an international financial institution that finances projects in the Black Sea Region. The bank has an authorized capital of EUR 3.45 billion and provides trade and project finance lending, guarantees, and equity participation in private companies and public entities in 11 member countries.

"This case proves that international financial institutions consider Ukraine as an investment destination even during wartime," Asters Partner Iryna Pokanay commented. "The construction of the hotel should develop the tourism infrastructure and give additional working places in the region."

The Asters team included Pokanay, Counsels Gabriel Aslanian and Anzhelika Livitska, and Senior Associate Inna Bondarenko.

Asters was unable to disclose further information on the deal.

Asters at a Glance

Founded in 1995, Asters is the largest Ukrainian law firm with offices in Kyiv, Washington D.C., Brussels and London.

The Firm provides efficient transactional legal advice and represents clients on a broad spectrum of matters arising in the course of doing business in Ukraine. Asters has extensive industry-specific experience and plays a leading role in advising clients in various market sectors.

Asters’ 130-strong legal team combines world-class professionalism and quality with clear understanding of local realities so that our clients receive practically oriented advice in the most client-friendly manner. Asters’ lawyers received law degrees from the best European, Ukrainian and US law schools, including Yale, Harvard, Chicago University.

Asters has consistently remained at the top of the Ukrainian legal market throughout its history being acknowledged as Ukraine Law Firm of the Year by Who's Who Legal (2018-2022), The Lawyer European Awards (2020-2021), Chambers Europe Awards 2020 and holds top positions in the most authoritative international market reviews: The Legal 500, Chambers Global and Chambers Europe, IFLR 1000, Who's Who Legal, Best Lawyers.

Firm's website.