Sorainen is advising the EBRD on Belarusian and Lithuanian aspects related to its loan of USD 11.3 million to the Modus Group for use in the construction of two biogas power plants with total installed capacity of 3MW in Belarus.
Lawyers in Belarus have been active in recognizing the potential of blockchain and the crypto-industry, says Sorainen Belarus Country Managing Partner Kiryl Apanasevich. “Belarus has been promoting blockchain culture over the last couple of years and adopted new legislation on the subject a year ago,” he says, referring to the country's Decree No. 8 on the Development of the Digital Economy that came into effect in March 2018.
K&L Gates and Arzinger & Partners have advised CDRL S.A. on its December 27, 2018 acquisition of 90% of the shares of Belarus-registered Handlowo – Przemyslowa Grupa West Ost Union Sp. z o. o. o., which owns a chain of shops with children's goods in Belarus operating under the brand Buslik, from the EBRD and four private individuals. Closing occured on January 1, 2019.
Sorainen has advised online business managing platform RocketData.io on the sale of a minority stake in Data Delivery LLC — the Belarusian company developing the platform — to the Russian-Belarusian Venture Capital Fund, an investment partnership formed by the Belarusian Innovation Fund, RVC, and RVC Infrafund. Aleinikov & Partners advised the buyers on the deal.
As part of comprehensive change in the Belarusian legal sphere, a new edition of the country’s “On Contradiction of Monopolistic Activity and Development of Competition” law (the “Competition Law”) entered into force on August 3, 2018. The Competition Law sets out new rules designed to ensure conditions for fair competition and to create new markets and enable their development apply to Belarusian and foreign companies doing business in Belarus.