The European Bank for Reconstruction and Development will lend US$30m to Russia’s Lenta Group, to build three more warehouse stores in St Petersburg, doubling its presence in the city.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The bank said: “Lenta is at the vanguard of an emerging trend in Russian food retailing: large cash-and-carry warehouses, open 24 hours-a-day, carrying a wide range of merchandise at competitive prices.”
The bank is also lending US$13.15m to overseas subsidiaries of Turkey’s Ulker Group. US$8.9m goes to Eurex Alimentare for a new Romania factory producing Ulker-branded biscuits, chocolate, bouillon and margarine; US$4.25m goes to Hamle, of Kazakhstan, to modernise and expand biscuit and chocolate production.
