Ta - Ta (IDBI-13004-01)

Countries
  • Uruguay
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 22, 2021
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Ta - Ta S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Aug 17, 2021

Disclosed by Bank Dec 23, 2020


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Project Description
<div class="block">The proposed IDB Invest financing for an amount in Uruguayan pesos equivalent to up to US$50 million (up to $15 million equity + up to $35 million in senior financial debt) will be used to partially finance the company&rsquo;s capital investments between 2020 and 2025 for an amount in Uruguayan pesos equivalent to US$104 million. This includes investments in the opening of stores, logistics of the Operations Center (OC), systems and technology, and maintenance of premises in order to achieve the Company&rsquo;s expansion and omnichannel retailing of the Company in Uruguay.<br /> <div class="intro-frame block-wysiwyg"><br /> <div>&nbsp;</div> <br /> <div>The project will allow the Company to increase the volume of operations with its suppliers, many of which are SMEs. Ta-Ta&rsquo;s philosophy is to develop local suppliers for different categories of its own brands. Support for this chain contribute to the following SDGs: (i) decent work and economic growth; (ii) industry, innovation and infrastructure; and (iii) responsible consumption and production.</div> </div> </div>
People Affected By This Project

For inquiries about the Project, contact:

Name: Michel Skinner

Title: CFO

Phone number: +598 92 530 435

Email:michel.skinner@tata.com.uy

For questions and comments to IDB Invest please contact:

Name: IDB Invest Communication Group

Email:requestinformation@idbinvest.org

Additionally, affected communities can access the IIC's Independent Consultation and Investigation Mechanism (ICIM) as follow:

Phone number: +1 (202) 623-3952

Fax number: +1 (202) 312-4057

Address: 1300 New York Ave. NW Washington, DC. USA. 20577

Email:mecanismo@iadb.orgorMICI@iadb.org

 

Investment Description

1) The funding of US$50 million lended to Ta - Ta splits into two parts. The first one, up to $15 million, is related to an equity. The second, up to $35 million, is a senior financial debt.

2) The credit is NOT in dollars, but in Uruguayan pesos.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Ta - Ta S.A. Client Industry and Trade

Contact Information

For inquiries about the Project, contact:

Name: Michel Skinner

Title: CFO

Phone number: +598 92 530 435

Email: michel.skinner@tata.com.uy

 

For questions and comments to IDB Invest please contact:

Name: IDB Invest Communication Group 

Email: requestinformation@idbinvest.org

Additionally, affected communities can access the IIC's Independent Consultation and Investigation Mechanism (ICIM) as follow: 

Phone number: +1 (202) 623-3952

Fax number: +1 (202) 312-4057

Address: 1300 New York Ave. NW Washington, DC. USA. 20577

Email: mecanismo@iadb.org  or  MICI@iadb.org