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EBRD - investments in SME in Romania and some Balkan countries

The European Bank for Reconstruction and Development (EBRD) is to invest 40 million euros to set up a private investment fund to participate in the companies share capital, in overall value of 200 million euros, with the participation of co-investors in the former Balkan Accession Fund (BAF), informs a release remitted by EBRD to Agerpres on Tuesday. The new fund will be destined to investments in medium-sized private companies in Romania, Bulgaria, Turkey, Republic of Moldova and Ukraine.

The fund will be known as the Emerging Europe Accession Fund (EEAF) and will be a significant source of risk capital and mezzanine financing at a moment when SMEs are affected by the lack of some adequate financial instruments. As well, the fund will establish the norms of behavior in business. Experienced managers in the field of share capital will contribute to provide a flow of risk capital to companies undergoing a dynamic development process and to the introduction of some sophisticated financial instruments and of high standards of corporate governance.

The fund management will be secured by Axxess Capital 3 N.V., a limited liability company registered in Dutch Antilles.

As well, in the framework of another project, EBRD is examining an investment in Asseco South and Eastern Europe Co. share capital as well as a loan, in total value of 22 million euros, of which 15 million euros in investments and 7 million on loan. The project is aimed at backing the company to consolidate its presence in Croatia, Romania and Serbia and to make acquisitions of IT companies in the Balkan zone, facilitating the setting up of a strong regional company in the IT field. EBRD will become shareholder of Asseco South and Eastern Europe alongside the Asseco Poland sponsor and other minority shareholders in the zone.

EBRD sees this development process as necessary for the spread of IT technology in the Balkan region and for the creation of an IT market in the Balkans.

Asseco South and Eastern Europe is a Polish holding, which operates seven IT companies in Romania, Croatia and Serbia, and have assets in the banking, telecommunications, integration sectors. The company strategy is to become the largest IT services and solutions providing company in the Balkans.

 

Sursa: http://www.actmedia.eu

Tags: capital company companies million romania balkan investments

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