Ukrainian retailer Nova Linia to get $50 mln from IFC
KYIV. Sept 27 (Interfax) - International Finance Corporation will provide a loan of $50 million to Ukrainian home improvement retailer Nova Linia.
The IFC board of directors approved the loan at a meeting on September 21.
Nova Linia CEO Oleg Shandar told Interfax that the loan money would be used to build three hypermarkets: in Kyiv, Donetsk and Feodosiya. The new stores are scheduled to open in May-September 2011.
Nova Linia was founded in 2000. The chain includes 17 hypermarkets. Cyprus-registered Dragon Capital Investments Limited, which is controlled by Dragon Capital (Kyiv), has 36.9% of shares.