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EBRD supports expansion of Kazakh brewer
Local currency loan to Efes Karaganda Brewery
The EBRD is lending 5.2 billion Tenge (€31.7 million) to Efes Karaganda
Brewery JSC (“Efes Kazakhstan”) to support its expansion in Kazakhstan. The
transaction will be the first EBRD fixed interest rate loan denominated in
Tenge.
Speaking at the signing ceremony at Efes Breweries International N.V.’s
(“EBI”) plant in Almaty, EBRD President Jean Lemierre said the project was an
opportunity for the Bank to provide local currency financing for one of the
dynamically growing sectors in Kazakhstan and also strengthened the EBRD’s
relationship with EBI and Anadolu Efes Biracılık ve Malt San. A.Ş. (“Anadolu
Efes”), the parent company of EBI with 70.2% shareholding and a dedicated
investor with a long term vision for the region.
Alejandro Jimenez, CEO of EBI, added, “Our operations in Kazakhstan have
developed into one of the leading businesses in the country. We appreciate the
EBRD’s support in the continued development of our business in the country”.
Efes Kazakhstan was established in 1996 when EBI acquired the Kolos plant in
Karaganda. This was followed by significant investments in capacity expansion.
EBI conducts the beer operations of Anadolu Efes, a major international
beverage group, in Russia, Kazakhstan, Serbia and Moldova.
The EBRD played a key role in financing the development of Efes Kazakhstan’s
brewing capacity when the company built a green-field plant in Almaty in 2001.
The new financing will support investments to increase Efes Kazakhstan’s
production capacity and to enhance its marketing and distribution across a
country where per capita beer consumption has grown from 6 litres in 1999 to
an estimated 30 litres in 2006. The company’s product portfolio in Kazakhstan
includes a combination of strong local and international brands. Efes brands
are sold in over 50 countries around the world.
The EBRD and EBI have been strategic partners since 1997 and to-date the Bank
has made loans to EBI totalling €94.5 million. The EBRD also continues to be a
shareholder in EBI’s operations in Russia since 2001.
Since its establishment in 1991, the EBRD has signed more than 265 projects
worth €4.0 billion in the agribusiness sector alone.
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