DCT Gdansk acquisition financing (EBRD-50798)

Countries
  • Poland
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
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Apr 9, 2019
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.
Borrower
DCT Gdansk SA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, this amount is converted to USD ($) on the date of disclosure. 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, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents 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

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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.

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
Here you can find a list of individual development financial institutions that finance the project.

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 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.

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.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - DCT Gdansk SA Subsidiary -
- - - - Holbrook Sp z o.o. Client -

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.

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.

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