Icatu Equity Partners

active

Summary Of Project Information (SPI)Project NameBrazil-Icatu Equity Partners     RegionLatin America & the CaribbeanSectorProject No008608Projected Board DateDecember 18, 1997Company NameIcatu Equity PartnersTechnical Partner and/or Major Shareholders The project’s primary sponsor is Banco Icatu. Banco Icatu is controlled by the Almeida Braga family.Project Cost Including proposed IFC investment US$200 million, including IFC’s proposed investment of US$20 million. In addition, IFC would exercise co-investment rights for up to US$10 million to co-invest with the Fund in selected portfolio companies.Location of project and Description of site BrazilDescription of Company and Purpose of Project The project involves establishing Icatu Equity Partners (IEP), a US$200 million private equity fund. IEP will seek influential minority equity positions in Brazilian mid-sized enterprises. A key role for IFC in this project will be to catalyze the flow of additional equity finance in Brazil from a broad base of foreign institutional investors. Environmental Category and Issues This is a category FI project according to IFC’s environmental review procedures. Icatu has committed to establishing an environmental management system that will ensure that investments are consistent with applicable host country environmental laws and regulations as well as applicable World Bank environmental, health and safety guidelines and policies; designating appropriate individuals who will have responsibility for environment; attending IFC’s environmental management workshops; submitting an environmental management plan; ensuring that category A projects are cleared by IFC’s Environment Division; and submitting an annual environmental performance report.Date SPI sent to PIC November 5, 1997“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384