Intersport (EBRD-48750)

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
Canceled
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
Oct 25, 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.
Borrower
INTERSPORT ISI DOO
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
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)
$ 35.50 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 32.6 million
Converted using 2016-10-25 exchange rate.
Loan Amount (USD)
$ 35.50 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 32.6 million
Converted using 2016-10-25 exchange rate.
Project Cost (USD)
$ 49.32 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 EUR 45.3
Converted using 2016-10-25 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 23, 2018

Disclosed by Bank Sep 15, 2016


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Project Description

According to EBRD website, the EBRD is considering the provision of long-term debt of up to EUR 16.3 million to Sigur Retail Group, a limited liability company incorporated in the Republic of Slovenia. It involves debt financing alongside Polish Enterprise Fund VII, L.P. for the acquisition of 100% of Intersport ISI d.o.o. from Mercator d.d. as well as capex financing for retail expansion that will include the rollout of additional stores as well the development of the company's e-commerce business.

The following are the impacts of this projectL

1. Market Expansion including strengthening of innovative retail channels (development of regional e-commerce).
2. Introduction of energy/resource efficiency in the e-commerce sector.
3. Transfer and dispersion of skills / inclusion. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Project Contact: Michal Kedzia
Email Address: michal.kedzia@ei.com.pl
Telephone No.: +48224588500, +48 224 588 555
Website: www.ei.com.pl
Office Address: Warsaw Financial Center, 31st Floor 53 Emilii Plater St. 00-113 Warsaw Poland

General enquiries to EBRD: 
Telephone No.: +44 20 7338 7168
Email Address: projectenquiries@ebrd.com

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.