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Legelata advises AGRIF COOPERATIEF U.A of the Netherlands in Acquisition of Stake in Inecobank cjsc

June 2018

AGRIF COOPERATIEF U.A. is a fund managed by Incofin Investment Management in Belgium. Incofin Investment Management is an alternative fund manager which are focused on investments in emerging countries and are driven by desire to promote inclusive progress. Leading investors of agRIF Cooperatief U.A  are leading development funds, banks, insurance companies, pension funds, high net worth and retail investors.

With completion of the transaction AGRIF COOPERATIEF U.A acquired from International Finance Corporation and DEG - Deutsche Investitions- und Entwicklungsgesellschaft around 10% stake in the equity capital of Inecobank cjsc of Armenia in May 2018. Inecobank cjsc is one of the leading banks in Armenia and South Caucasus region, focused on individual customers, small and middle market business and large corporations offering a full range solutions. 

“We are very pleased with assistance of Legalata. The team in Legelata has been very pro-active and available any time of the day working to meet the tight deadlines for regulatory permits. We are very satisfied with the competence and polished negotiation skills that Legelata contributed to this transaction: reiterated Ms. Goedele Van de Plas, Legal Counsel of Incofin Investment Management.

“Legelata is traditionally strong in banking and finance transactions with strong emphasis on M&A and regulatory matters. It is our pleasure to contribute to the success of AGRIF COOPERATIEF U.A in support of this transaction” stated Gor Margaryan of Legelata.

The transaction implied due diligence, including tax due diligence of Inecobank led by partner Alla Hakhnazaryan, obtaining of regulatory permits for the transaction led by senior associate Arthur Buduryan and contractual arrangements led by partner Gor Margaryan.

For more information about the transaction please click here.

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