DARP APS 2 (IFC-38692)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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
FI
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
May 30, 2018
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
APS HOLDING SA
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 131.23 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 106.75
Converted using 2018-04-02 exchange rate.
Project Cost (USD)
$ 376.17 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 306
Converted using 2018-04-02 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 3, 2018

Disclosed by Bank Apr 2, 2018


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Project Description

This project invests in a regional distressed asset resolution platform, and finances an equity investment in APS Holding, a regional distressed asset servicing and management company. By investing in assets that are being sold as a result of financial distress, the IFC aims to mobilize capital from the private sector, provide liquidity for new lending, and support banks to restructure balance sheets in the aftermath of the financial crisis.

Investment Description
  • International Finance Corporation (IFC)

FC proposes to become an anchor investor in the Platform as well as to acquire a minority equity participation in APS. IFC’s proposed minority equity investment in APS will be up to EUR 6.75m. 

Private Actors

For this project, IFC is partnering with an existing client, APS Holding S.A. (APS Holding S.A.  and/or any of its subsidiaries as “APS”). Established in 2004 in the Czech Republic, APS has 14 years of experience in underwriting, advising and servicing portfolios of distressed assets across the ECA region. APS has more than 750 full time employees with operations in 11 countries across Europe. To date, APS has underwritten and serviced 80 distressed asset portfolios and currently manages assets with a total nominal value of more than €5.5 billion. APS is wholly owned by Mr. Martin Machon, Chairman, CEO and co-founder.  

Contact Information

APS Holding a.s. 
Antonín Pfleger 
COO, Member of BoD 
+420 225 377 450 
apfleger@aps-holding.com 
Celetná 988/38, 110 00 Praha 1, CZ 
http://global.aps-holding.com/ 

ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/