Translated version of this PSD: Serbian
Project Description
Transition Impact
The Client
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”.
EBRD Finance
Up to EUR 60.0 million of subordinated debt and EUR 20.0 million of ordinary equity.
Environmental Impact
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.
Technical Cooperation
None.
Company Contact
Mr Andrej Babache
Director, Mid Europa Partners
South West House
11a Regent Street
London
SW1Y 4LR
United Kingdom
Business opportunities
For business opportunities or procurement, contact the client company.
For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com
General enquiries
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
Public Information Policy (PIP)
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP
Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.
Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.
