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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.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

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