NIDERA S.A. (FMO-50216)

Countries
  • Argentina
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
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.
Investment Amount (USD)
$ 40.00 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 @ FMO website

Updated in EWS Jun 24, 2018


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Project Description

WHO IS OUR CLIENT

FMO's client is Nidera Argentina, which has carried out the group's activities in this market for over 90 years. Nidera's activities in Argentina are integrated across the agricultural value chain and include origination, processing and export of grains and oilseeds, oils, soybean meal/pellets; the import, production and distribution of fertilizers, agrochemicals, and other agri inputs; and the production of crude oils and refining of vegetable oils. Nidera is a major international agribusiness and trading company with annual turnover of USD 18.5 billion in 2015. Nidera was founded in Rotterdam, the Netherlands in 1920. Currently, Nidera has domestic and internal operations in 19 major export and import countries and distributes its products to more than 60 countries in the world. COFCO International acquired a majority stake in Nidera in October 2014. COFCO International is a consortium comprising of COFCO, a leading supplier of diversified products in the Chinese agricultural and food products industry, and other prominent international investors.

FUNDING OBJECTIVE

The USD 200 million pre-export finance transaction will serve to support the working capital needs associated to Nidera Argentina's ongoing origination of grains and oilseeds for export to end consumer markets.

WHY WE FUND THIS PROJECT

Nidera Argentina is a long-standing client of FMO, who has financed the company during changing market conditions in Argentina This transaction will allow Nidera Argentina to have access to medium term funding for its operations. FMO has also supported the company in its long term improvement of non-financial practices such as E&S standards, and going forward Nidera continues to work on strengthening the controls and governance within the company as part of the COFCO Group.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

FMO
The Netherlands
+31 70 314 96 96
info@fmo.nl
Anna van Saksenlaan 71
2593 HW, The Hague
The Netherlands

FMO
South Africa
+27 11 507 2500
joburg-office@fmo.nl
Regent Place, 2nd Floor
Cradock Ave, Rosebank 2196
Johannesburg South Africa

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism