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Auchan to take $75 million loan to build stores in Ukraine
24 October 2012
Auchan (France), developing the world's network of eponymous hypermarkets, supermarkets and shopping centers, is planning within two months to sign a loan agreement with the International Finance Corporation (IFC) to attract $75 million for the construction of hypermarkets and shopping centers.

"A plan will be approved and an agreement will be signed with the IFC within two months. The first project, for which funds will be issued, is the Rose Park trade and entertainment center (Makiyivka, Donetsk region) and later funds will be issued for various projects of hypermarkets and shopping centers," Auchan Ukraine Director General Gerard Gallet said at a press conference in Kyiv on Tuesday.

He did not specify the term for which the funds will be attracted.

As reported, Auchan retailer wants to expand its business in Ukraine, and it addressed the International Finance Corporation asking for a long-term loan of $75 million to its Ukrainian subsidiaries to build stores and trade centers in Makiyivka, as well as in Kyiv and Odesa.

Auchan has subsidiaries in Ukraine – Auchan Ukraine hypermarket LLC, Immochan Donskoy and Immochan Ukraine. In July Immochan Ukraine reported on the start of the construction of a trade and entertainment center in Makiyivka. The area of the object will be 48,000 square meters. The trade center is to open in autumn 2013.

At present, eight Auchan hypermarkets operate in Ukraine.

Source: Interfax, Kyivpost

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