Lace and Business

The European Bank for Reconstruction and Development (EBRD) has sold its 12% stake in the closed joint-stock company “Milavitsa”, Europe’s third largest producer of women’s underwear, to the strategic investor of the company, “Silvano Investment Group”, Estonia. “Silvano” guarantees that “Milavitsa” will receive 15 million to 20 million euros in investments to be able to develop a large-scale network in three or four years. Besides, “Silvano” will provide up to 60% of its shopping space to “Milavitsa”.