Vester to recieve USD53 million loan

Vester, a Russian retailer, has received a new loan of RUB1.5 billion (USD53.2 million) to finance the development of its frozen investments. A bank partner has decided to grant a new loan, once all the old debts of the company have been refinanced. Vester plans to complete construction of its hypermarkets in Orenburg and Yaroslavl and a shopping center in Naberezhnye Chelny. In addition to that, Vester is seeking buyers for the land and properties with a total value of USD50 million, he added. In the wake of the financial crises Vester has closed two stores in the Lipetsk and one in Tolyatti.

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