DCT Gdansk acquisition financing (EBRD-50798)

Countries
  • Poland
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
Apr 9, 2019
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
DCT Gdansk SA
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 51.97 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 46.25
Converted using 2019-06-19 exchange rate.
Project Cost (USD)
$ 429.77 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 382.5
Converted using 2019-06-19 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 5, 2019

Disclosed by Bank Jun 19, 2019


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to the Bank's website, this project provides financing to Holbrook Sp z o.o. to i) refinance the existing debt of DCT Gdansk SA raised in 2014, ii) provide acquisition finance related to the acquisition of DCT Gdansk SA and iii) provide additional capex funding for the Company. 

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

Total project cost has been calculated as the acquisition of 100 per cent of the shares of Gdansk Port Holdings S.a r.l, the sole shareholder of the Company.

Private Actors

The Borrowers are i) DCT Gdansk SA, a joint stock company incorporated in Poland to operate and manage a deep sea container terminal, and ii) Holbrook Sp. zo.o, a limited liability company incorporated in Poland which holds 100 per cent share of Gdansk Port Holdings S.a r.l incorporated in Luxembourg, which in turn holds the Company.

Contact Information

Mr Adam Zolnowski; Mr Janusz Swieczkowski
adam.zolnowski@dctgdansk.com ; janusz.swieczkowski@dctgdansk.com
+48 58 737 7737 +48 58 737 6346
+48 58 737 6350
www.dctgdansk.pl
DCT Gdansk SA, 7 Kontenerowa Street, 80-601 Gdansk, Poland

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.