Victoria Group

complete

The EBRD is considering making an equity investment in the amount of EUR40 million in Victoria Group, one of the largest private agribusiness groups in Serbia. Proceeds of the Bank’s subscription would be used for: (1) EUR 19.7 million for financing of the working capital needs. (2) EUR 20.0 million for balance sheet restructuring through refinancing of Financial Debt. (3) EUR 0.3 million funding of a consultancy assignment on the Group’s financial reporting and corporate governance improvements. This project is expected to have a significant transition impact, which is likely to derive from: Victoria Group d.o.o., is a limited liability company incorporated in Serbia. The Group operates the largest crushing seed capacity in South-East Europe and is one of the largest private agribusiness groups in Serbia managing operations in edible oil production, fertilizer production, veterinary and animal feed production, laboratory services and grain logistics. Equity investment in the amount of EUR 40 million. EUR 115 million. The project was screened C/1 (under the EBRD’s 2003 Environmental Policy). The Bank's environmental due diligence consisted of an independent environmental, health, safety and social audit of the Group's companies which confirmed that overall, the facilities are in compliance with national legislation. Based on the EHSS due diligence an Environmental and Social Action Plan (ESAP) was developed. The ESAP will bring the facilities into line with Serbian and EU standards for environment, health and safety within an agreed timeframe. The Company will be required to comply with national and EU environmental, health, safety and labour standards and requirements, as well as provide the Bank with an annual environmental report, including updates on the ESAP. No further issues to raise. None. Mr Zoran Mitrovic - President of VG Mr Goran Blagojevic - Financial Advisor Tel: + 381 11 35 32 600 E-mail: office@victoriagroup.rs