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According to the Bank’s website, the proposed transaction involves provision of up to EUR 100 million (of which EUR 60 million uncommitted) senior unsecured loan consisting of: (i) EBRD finance of EUR 94 million and (ii) Clean Technology Fund finance of USD 6.5 million. The Loan will be used to finance Migros's 2024/25 capex programme.
The proposed transaction will enable the Borrower to finance its capex programme in Turkiye, including: i) investments into new store openings across the country and refurbishments of existing stores; and ii) renewable energy investments.
Categorised B (ESP2019). Land will be acquired in willing-buyer, willing-seller transactions with no recourse to expropriation, such that the Bank's requirement for involuntary resettlement are not triggered. No specific biodiversity risks have been identified for the sites nor are there cultural heritage sensitivities, however, a chance finds procedure will be in place. Worker accommodation will not be required.
Provision of an senior unsecured loan.
Migros operates a multi-format strategy, with supermarkets, hypermarkets, wholesales, online channels, Macrocenter and Mion (personal care) and has a presence in all 81 cities of Turkiye. Migros is indirectly owned 50% by the Anadolu Group, with the remainder floating on the Istanbul Stock Exchange.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | Migros Ticaret A.S. | Client | - |
COMPANY CONTACT INFORMATION
Cem Dogan (CFO)
cemdo@migros.com.tr
www.migroskurumsal.com
Migros Ticaret A.S; Atatürk Mahallesi, Turgut Özal Bulvari, No:7, Atasehir, Istanbul, Türkiye
ACCESS TO INFORMATION
You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request
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 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