Ulker Biskuvi (EBRD-51840)

  • Turkiye
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 11, 2020
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Ulker Biskuvi Sanayi A.S.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 84.46 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 75
Converted using 2020-03-11 exchange rate.
Project Cost (USD)
$ 84.46 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 75
Converted using 2020-03-11 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 16, 2023

Disclosed by Bank May 7, 2020

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

A loan of EUR 75m to Ulker Biskuvi Sanayi A.S., the leading confectionery producer in Turkey which operates production facilities in Turkey, Egypt, Kazakhstan and Saudi Arabia.

The proceeds of the loan will be used for paying off the syndicated loan facility maturing in April 2020 and the company's strategic investment projects.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

From the EBRD's website:

Founded in 1944, Ulker Biskuvi is one of Turkey's best-known confectionary brands, with a diverse product portfolio including biscuits, cakes, chocolates and other. The company exports its products to Europe, North Africa, CIS, the Middle East, North America and other, and has equity interests in international brands such as McVities and Godiva.

The company is 51.0% owned by Pladis Foods Limited (in turn 100% owned by Yildiz Holding), 1.97% by Yildiz Holding directly and the remaining stake (5.64%) is owned by Ulker family members. The remaining 41.4% is free float on Borsa Istanbul.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Pladis Foods Limited Investor Agriculture and Forestry
- - - - Ulker Biskuvi Sanayi AS Client Agriculture and Forestry

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Ulker Biskuvi Sanayi A.S.:

Mr. Cenker Ucan - Regional CFO
Email: cenker.ucan@yildizholding.com.tr
Phone: +90 216 524 25 00 / +90 216 316 43 44
Website: www.ulkerbiskuvi.com.tr
Address: Kisikli Mah. Ferah Cad. No:1 Buyuk Camlica, Uskudar Istanbul, Turkey


You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request


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 at: 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

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