Project description
and objectives:
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The proposed loan will allow the company to fully fund its investment plan aimed at completing the expansion and development of its logistics and food retail network in Lithuania.
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Transition impact:
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The transaction and measures implemented by the company will improve corporate governance and reporting standards in this important company, in particular by improving the transparency of the VP Group structure in Lithuania and financial reporting of the VP Group as a whole.
Higher penetration of well managed retail network operations throughout the country will contribute to a more effective intermediation between the suppliers, to a large extent domestic food processing companies, and consumers both within and outside the main urban areas in Lithuania. Efficient intermediation is instrumental in improving the overall efficiency of the agribusiness and food processing sectors through upstream linkages.
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The client:
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UAB VP Market, a joint stock company incorporated in Lithuania, focused on integrated retail operations and is the largest company in Lithuania in terms of domestic sales.
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EBRD finance:
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€ 35 million senior corporate loan
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Total project cost:
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Commercially sensitive
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Environmental impact:
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This operation has been screened C/1 requiring an audit of the Company's environmental, health and safety policies and procedures and also its management of the renovation and construction of new stores. The company provided the Bank with a comprehensive information memorandum on its existing operations in Lithuania and Latvia. The memo covers, among other things, a range of environmental and hygiene issues and demonstrates that the company has a comprehensive understanding and control of the environmental and hygiene aspects of its operations. The company is required to comply with national and EU environment, health and safety standards and will provide the Bank with an annual environmental report on its activities.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Ignas Staskevicius
Tel. +370 5 2686787
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EBRD contact:
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Valdas Vitkauskas, Operation Leader: vitkausv@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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