According to bank documents, the proposed investment is an unfunded risk participation of USD 25 million in an uncommitted trade finance facility, made available and arranged by ING Belgique, Bruxelles, succursale de Lancy/Genève (ING) for ETG Agri Inputs FZE (ETG), an entity of the ETG group. Its purpose is to support ETG's imports, storage and sales of fertilizers.
ING Group is the largest Dutch financial institution in terms of assets and 26th globally. With over 54,000 employees, ING operates in more than 40 countries globally, serving 38.4 million customers. The bank’s ratings are A+ / Aa3 / AA- with stable outlook.
Established in 1967 in Kenya, the ETG is a vertically integrated agricultural supply chain manager involved in the origination, procurement, warehousing, transport, agriculture processing and consumer products. It is active in over 25 African countries, as well as in India, China and South East Asia. It has additional trading and merchandising desks in Europe, the Americas and the Middle East. ETG employs more than 7,000 people globally.
The major shareholders are the Sponsors, Ketan Patel, Mahesh Patel and Pradip Patel family trust and institutional investors Pembani Remgro (South Africa) and Mitsui & Co Ltd of Japan.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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