{"id":46954,"date":"2025-01-24T13:07:49","date_gmt":"2025-01-24T13:07:49","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=press_releases&p=46954"},"modified":"2025-01-24T13:08:53","modified_gmt":"2025-01-24T13:08:53","slug":"sullivan-advises-ebrd-on-two-innovative-supply-chain-finance-transactions","status":"publish","type":"press_releases","link":"https:\/\/my.legal500.com\/developments\/press-releases\/sullivan-advises-ebrd-on-two-innovative-supply-chain-finance-transactions\/","title":{"rendered":"Sullivan Advises EBRD on Two Innovative Supply Chain Finance Transactions"},"content":{"rendered":"

Sullivan & Worcester (Sullivan) has recently advised the European Bank for Reconstruction and Development (EBRD) in relation to two innovative supply chain finance (SCF) transactions.<\/strong><\/p>\n

In the first transaction, Sullivan advised EBRD in its unfunded risk participation in T\u00fcrkiye\u2019s Akbank SCF program in favour of Sok, a leading retailer in T\u00fcrkiye.<\/p>\n

The programme makes it possible for over 100 suppliers \u2013 primarily small and medium-sized businesses that are mostly based in cities struck by the 2023 earthquakes that claimed over 55 thousand lives \u2013 to benefit from the SCF program for the first time, providing them with access to affordable working capital solutions. The deal is supported by the European Commission\u2019s IPA II Fund.<\/p>\n

The EBRD signing ceremony in Ankara for the launch of the Akbank deal was held in November 2024, attended by counsel\u00a0Daniela Barrdear<\/a>. It was also attended by Head of the Delegation of the European Union to T\u00fcrkiye, Ambassador Thomas Hans Ossowski, President of the EBRD, Odile Renaud-Basso, T\u00fcrkiye\u2019s Minister of Industry and Technology, Mehmet Fatih Kac\u0131r and Akbank CEO, Kaan G\u00fcr.<\/p>\n

In the second transaction, working together with Kinstellar, Sullivan advised EBRD, which partnered with Banca Transilvania, to enhance the SCF programme for Profi Rom Food, a leading retail chain operating in Romania.<\/p>\n

The EBRD\u2019s unfunded risk participation will help grow Profi\u2019s existing SCF program for the benefit of its suppliers and marks the EBRD\u2019s first SCF initiative in Romania aimed at strengthening a domestic value chain.<\/p>\n

The Sullivan team advising EBRD is led by counsel\u00a0Daniela Barrdear<\/a>, with London partner\u00a0Geoffrey Wynne<\/a>.<\/p>\n

For more information about the Akbank SCF program in favour of Sok,\u00a0here<\/a>, and for the Profi Rom Food SCF programme, please click\u00a0here<\/a>.<\/p>\n

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