Translated version of this PSD: Serbian
Adriatic Co-Investment LP, a limited partnership, for the equity investment and Adriatic TopCo B.V., a limited liability entity, for the subordinated debt. Both entities will be managed directly and indirectly by the “Sponsor” in relation to the acquisition and management of the “Balkan Group”.
Up to EUR 60.0 million of subordinated debt and EUR 20.0 million of ordinary equity.
The Project has been Categorised B in accordance with the EBRD’s 2008 Environmental and Social Policy (ESP) and E&S Due Diligence (ESDD) has been undertaken by independent consultants on behalf of the Sponsor. ESDD included visits by the consultant to a selection of the Balkan Group’s assets and document review to assess the current and historical operating performance of the business units of the Balkan Group that will make up the holding. EBRD requested additional detailed ESDD to further understand the E&S risks for the Bank associated with the proposed transaction and the ability of the Parent to meet the Bank’s E&S Performance Requirements (PRs). At the conclusion of the ESDD a detailed E&S Action Plan (ESAP) was developed and will be incorporated into the financing agreements for the Parent to implement during and following the completion of the formation of the Parent.
The three separate business units will be combined and synergised, where possible, and the ESAP includes a number of items at a corporate level to centralise the E&S management functions to ensure consistent operating performance across the portfolio. Several of the operations already broadly meet the Bank’s PRs while others have a number of corrective measures to implement, as detailed in the ESAP, so that the Project is structured to meet the PRs.
Mr Andrej Babache
Director, Mid Europa Partners
South West House
11a Regent Street
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