IFC Backs Joint Venture Between Ukrainian Fuel Retail Company Galnaftogaz and ADM Capital (CEE and CIS)

Source: ADM Capital

International Finance Corporation (IFC), the private sector development institution of the World Bank Group, will provide an US$85 million loan to Okkoskhidinvest (OKKO), a Ukrainian fuel retailer. Okkoskhidinvest is a joint venture between Ukrainian petroleum distributor Concern Galnaftogaz (GNG) and ADM Capital, a private equity investor focused on recovery and special situations in the emerging markets. ADM Capital previously invested US$35 million in the joint venture with GNG from its CEECAT Recovery Fund in 2011. The IFC loan will finance the expansion of GNG’s OKKO chain of petrol stations in eastern Ukraine.