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LJUBLJANA (Slovenia), January 22 (SeeNews) - The European Bank for Reconstruction and Development is considering providing 100 million euro ($113.5 million) to finance a project for acquisition of Slovenian poultry producer Perutnina Ptuj by Ukrainian holding company MHP, the bank said on Tuesday.
The acquisition of a majority stake in the holding company of Perutnina Ptuj group of companies and subsequent capital investments in it will support the strategy of MHP to expand its operations in the EU and other countries with the aim to become a multinational producer, the EBRD said in a project summary document published on its website.
The project has a target board date of March 13.
The project will promote inter-regional foreign direct investment (FDI) and contribute to building a strong and diversified investors' base in the Western Balkans. It will also promote the investments into Perutnina Ptuj resulting in significant efficiency gains, cost savings and greater profitability, the bank added.
In September, Slovenian steel manufacturer Slovenska Industrija Jekla (SIJ) said it is selling its majority stake in Perutnina Ptuj to MHP for an undisclosed price.
MHP Group is a leading vertically integrated group engaged in poultry, grain and fodder production in Ukraine, EBRD said.
SIJ has been planning to exclude Perutnina Ptuj from the group for some time by selling its 9,896,842 shares in the poultry producer. SIJ first entered Perutnina, which employs 3,600 people, in December 2015. In 2017, it increased its shareholding interest in the company to above 90%.
($ = 0.88123 euro)