Frutarom Expansion (EBRD-47968)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
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
Feb 10, 2016
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.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 85.50 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 EUR 80,000,000.00
Converted using 2017-03-31 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 31, 2017

Disclosed by Bank Mar 30, 2017


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Project Description
This project involves a EUR 50 million loan to Frutarom (UK) Ltd. (the "company"), subsidiary of Frutarom Industries Ltd. The EBRD loan, will be used for (i) re-financing of the company's acquisition of Slovenia's Vitiva d.o.o., (ii) re-financing of the company's acquisition of Poland's AMCO Sp. z o.o, and (iii) financing of post-acquisition capex and working capital needs.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information
ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.