Project description
and objectives:
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The proposed project consists of an equity investment in the Agrokor d.d. by
participating in an increase of the Agrokor’s share capital. The purpose of
the Project is to assist the Company in
(i) financial restructuring of the balance sheet by decreasing its financial
leverage,
(ii) enabling the Company to continue investments in its core businesses in
the region, and
(iii) raising the Company’s profile among investors to prepare for a potential
future IPO.
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Transition impact:
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The transition impact relates to corporate governance improvements (e.g.
further improvement of company's controlling bodies practices including the
Supervisory Board, improvement of internal controls, further implementation of
information security management system, etc.).
The project will also enable the Company to continue selective investments in
its core business in the region which will contribute to increased competition.
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The client:
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Agrokor d.d., the leading producer and distributor of food and beverage
products and largest retailer in Croatia.
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EBRD finance:
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EUR 110 million equity investment.
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Total project cost:
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EUR 110 million.
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Environmental impact:
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The project has been screened C/1 requiring an environmental audit of the
company's corporate environmental policies, procedures and practices and site
reviews for a sample of the company's production facilities. An international
environmental consulting company has been selected to undertake this work
which has already begun. Following completion of the audit, any resulting
recommendations will be formulated into a time-bound, costed environmental
action plan ("EAP"). The aim of the EAP will be to ensure compliance with
relevant host country environmental standards, EU environmental standards and
any other relevant good international practice. The company will be required
to provide the Bank with an annual environmental report on the implementation
of the EAP and any other environmental matters. This PSD will be updated
following completion of environmental due diligence to include summary
information on the EAP and any other environmental actions agreed with the
company.
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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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Anja Linic, PR Director
Tel: +385 1 48 94 304
E-mail: anja.linic@agrokor.hr
Tomislav Matiija Varga, Director in Corporate Finance
Tel: +385 1 48
94 024
E-mail: tom.varga@agrokor.hr
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EBRD contact:
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Vedrana Jelusic, Operation Leader: jelusicv@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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