Translated version of this PSD: Russian
The transaction comprises a buy-out of certain shareholders of Lenta Ltd (the “Company”). The proposed transaction will allow the Company to focus on further growth and development.
The Bank’s finance supports the further development of the Russian retail sector with improved access for the consumer to an efficient and competitive shopping environment. The project also supports improvements in corporate governance and transparency as well as improved operational efficiency in a successful Russian company.
Lenta Ltd is one of the leading Russian food retailers operating a branded chain of large format discount stores.
USD 170 million.
USD 1,140 million.
The project has been screened B. Environmental due diligence was carried out and covered Lenta’s approach to environmental, health, safety and labour management and compliance status. Since EBRD’s first investment in Lenta, the Company has been reporting yearly on environmental and social compliance. For this equity project an updated Environmental Action Plan was agreed and covers such actions as the development of Lenta’s existing environmental and occupational health and safety management systems to include the key elements of ISO 14001 and EU standards, the incorporation of national and EU standards in the designs of new stores and other new constructions, including standards for construction site safety, and the development of a sustainable supply chain policy. The Company will continue to provide annual reporting on environmental and social performance and implementation of the new action plan.
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