InVivo LT 2023

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 The proposed IFC investment is a corporate loan of up to €200 million to InVivo Group (“InVivo”) with defined use of proceeds to support the expansion of its global malt processing capacity through its subsidiary Malteries Soufflet, including (i) replacement of an old brownfield malting plant with a new, more efficient plant in Pleven, Bulgaria, (ii) construction of a greenfield malting plant in Johannesburg, South Africa; (iii) working capital for barley sourcing in Bulgaria, Poland, Romania and South Africa (the “Project”). The new Pleven and Johannesburg malting plants will be tentatively commissioned in September 2024 and in March 2027 respectively.  This would be IFC’s eight investment in InVivo (having purchased Soufflet Group in 2021) since 2009. Previous investments are available at https://disclosures.ifc.org/project-detail/ESRS/45465/soufflet-corphttps://disclosures.ifc.org/project-detail/ESRS/40331/souff-ethiopiahttps://disclosures.ifc.org/project-detail/ESRS/38083/soufflet-lthttps://disclosures.ifc.org/project-detail/ESRS/34759/soufflet-2https://disclosures.ifc.org/project-detail/ESRS/30067/soufflet-ecahttps://disclosures.ifc.org/project-detail/SPI/27510/soufflet-ukraine The E&S performance of InVivo’s projects (or previously Soufflet Group) in portfolio has been satisfactory.