about us | newsletter | contact | archive | members area
Andreea Paun, Griffes
In 2018, we will be delivering Unirii View»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

EBRD to become a shareholder in Agricover Holding

The EBRD and Agricover Holding have signed legal agreements today confirming the Bank's intention to become a shareholder in the Romanian agribusiness company.

2017-10-13 12:54:20

According to the agreement, the EBRD will invest 32 million RON (7 million Euro equivalent) in the company's capital for a subscription to a 13 per cent stake. The completion of the transaction is subject to statutory approvals and is expected to be finalised before the end of 2017.

Agricover Holding SA is a major player in the Romanian agricultural sector, offering agribusiness and financial services to farmers through a highly integrated and original business model centred around satisfying the essential needs of farmers. With 17 years of experience in Romanian agriculture and 850 employees, the company supports more than 4,500 farmers through its two main subsidiaries Agricover SRL and Agricover Credit IFN. In 2016, the firm reported a turnover of 1.2 billion RON.

"We are joining forces with the EBRD to accelerate our support for the development of modern agriculture in Romania," said Jabbar Kanani, President of Agricover Holding SA. "Together with the Bank we will continue to provide farmers with innovative solutions designed to enhance the performance of their farming activities."

The EBRD's investment will support the growth of one of the main locally owned Romanian companies serving farmers in all agricultural sectors. The funding will allow the firm to meet the growing financing needs of local farmers and will ensure that a larger number of small and medium-sized farms will gain access to modern technologies and markets. The company will continue to provide support to farmers working in animal husbandry and to develop its recent investment in the pork-processing business.

The EBRD is one of the largest institutional investors in Romania, having invested 7.6 billion Euro in more than 400 projects in the country. Total investment in agribusiness accounted for 10.3 billion Euro in 624 projects across the EBRD's countries of operations of which 700 million Euro for 36 projects was invested in Romania.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  5807 Views
Daily Info
David Jordan named new CEO of Policolor-Orgachim group

The board of the Policolor-Orgachim group has announced changes in its top management structure: David Jordan has been named the new CEO of the Group.

Vienna Insurance Group posts growing profit in Q1 2018

Vienna Insurance Group (VIG) reports further improvement in all key figures for the 1st quarter of 2018 compared to the same period in the previous year.

E-Distributie Muntenia to modernise several electricity networks in Bucharest

E-Distributie Muntenia will invest about 6.1 million Euro this year for the modernization of the medium and low voltage grids in Eminescu, Floreasca and Domenii areas in Bucha...

Ford confirms second vehicle for Craiova assembly plant in Romania, 200 million Euro new investment and 1,500 new jobs

Ford confirmed today it is investing up to 200 million Euro and adding an additional 1,500 jobs to manufacture a second vehicle at its Craiova Assembly Plant, in Romania.

Romatsa buys insurance policy for 8.4 million Euro

Romatsa, the state company that manages the air traffic control activity in Romania, has purchased insurance policies worth 39 million RON (8.4 million Euro) for its employees...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
ING Bank Romania to accelerate business development through digitization

Customers are increasingly interacting with the bank through its digital platforms and are making more card payments, according to a report issued by ING Bank Romania.

2 Comments

TransferGo: We will come to a point where money transfers will be dominated by app usage

Cash will become obsolete and this will be the result of digital finance advancement, Marius Nedelcu, Country Manager at TransferGo told The Diplomat-Bucharest.

Globalworth: The number of green accredited buildings continues to grow every year

Romania today is one of the few economies in Europe that had a consistent expansion over the past six years, outpacing EU average growth, Dimitris Raptis, deputy CEO and Ch...

1 Comment

UniCredit announces updates in the Mobile Banking application

UniCredit Bank launches new facilities in the up-to-date version of its Mobile Banking application to provide customers with a simpler and faster user experience.

2 Comments

ESOP: We expect that the green building trend further grows

The Romanian market is one of the most dynamic in the region due to the accelerated development in IT&C, BPO, shared services industries, and to the expansion of research &...

Immofinanz: Constant, visible shift towards energy efficiency on the local office sector

Romania's strong economic growth in 2017 placed the country in a leading position in the CEE region and the trend is expected be sustainable over the next years, Christian ...

1 Comment

Crosspoint: Currently, there is a relatively small number of green office buildings throughout Romania

2017 has been a good year for the office market all throughout the CEE region: low vacancy rates (Bucharest - nine per cent, Warsaw - 14 per cent, Budapest - 9.2 per cent, ...