February 2 (SeeNews) - The European Bank for Reconstruction and Development said on Friday it has acquired a 3.6% stake in ProCredit Holding, the parent company of banking group ProCredit, through the subscription of 2.14 million shares by way of a capital increase.
"We are happy to participate in this first capital increase raised through the capital markets to support further growth of the Group and improve access of SMEs to responsible finance in our countries of operations," Henry Russell, EBRD director, Financial Institutions, Western Balkans, Belarus, Moldova and Ukraine, said in a statement.
You can subscribe to our M&A newsletter here
"The two financial institutions have been longstanding partners with joint undertakings in south eastern and eastern Europe," the EBRD said.
In Southeast Europe (SEE), ProCredit group, which consists of banks providing financing to small and medium-sized enterprises (SMEs), has units in Bulgaria, Romania, Moldova, Serbia, Kosovo, Bosnia and Herzegovina, Macedonia and Albania.