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CMS and Dentons Advise on EBRD's Acquisition of Stake in Uzbekistan’s Food Retailer Korzinka

CMS and Dentons Advise on EBRD's Acquisition of Stake in Uzbekistan’s Food Retailer Korzinka

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Lawyers from CMS in Ukraine and Poland have joined the firm's multi-national team advising the EBRD on the acquisition of a stake in Uzbek food retailer Korzinka. Uzbek law firm Leges reportedly advised the EBRD as well, while Dentons advised the sellers.

According to CMS, “as a result of the EBRD’s investment, Korzinka intends to triple its number of stores and double its staff headcount to approximately 10,000 by 2023. EBRD’s USD 40 million investment represents the bank’s first equity investment in Uzbekistan for more than a decade and the first since Uzbekistan opened itself up to foreign investment following a raft of reforms introduced by the government.”

Korzinka branded stores are operated by FE Anglesey Food LLC, which is owned by Singapore-incorporated Anglesey Investments PTE. LTD.

CMS’ international team included Ukraine Managing Partner Graham Conlon and Warsaw-based Associate Jakub Rykowski, and Singapore Managing Partner Toby Grainger, Senior Associate Sam Ng, and Associate Eric Lai.

Dentons' team was led by Prague, Moscow, and London-based Partner Louis Skyner and London-based Partner Richard Barham.