Asters advises the Black Sea Trade and Development Bank on financing for the construction of Novotel hotel in Ukraine
Asters acted as a legal counsel to the Black Sea Trade and Development Bank in connection with its up to EUR 8 mln financing to LLC "Real Estate Development Centre" for the construction of a four-star 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 travellers.
Asters' Partner Iryna Pokanay comments: "This case proves that international financial institutions consider Ukraine as an investment destination even during wartime. The construction of the hotel should develop the tourism infrastructure and give additional working places in the region."
Asters’ team advising on the project consisted of Partner Iryna Pokanay, Counsels Gabriel Aslanian, Anzhelika Livitska and Senior Associate Inna Bondarenko.