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 Feb 19, 2021

Disclosed by Bank Dec 23, 2020


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Project Description









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’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’s expansion and omnichannel retailing of the Company in Uruguay.






The project will allow the Company to increase the volume of operations with its suppliers, many of which are SMEs. Ta-Ta’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.

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
  • IDB Invest (IDBI)

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 Actors
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