EBRD pledges further support to independent Ukrainian brewer
US$ 10 million equity co-investment to finance working capital needs, improve product range
The shareholders of an independent Lviv-based brewer Persha Privatna Brovarnia (PPB) ) including the European Bank for Reconstruction and Development (EBRD), which has over two decades of successful investment experience in the Ukrainian brewing industry, are financing another project aimed at supporting one of the most vibrant agribusiness subsectors in the country. Through this latest investment the shareholders of PPB, including the EBRD, will make a US$ 10 million equity investment which will be channelled to the brewer.
The injection of fresh capital into PPB, where the Bank already indirectly holds a 15 per cent stake, will enable the brewery to finance its working capital needs and launch a new packaging line (cans). EBRD Country Director for Ukraine, Sevki Acuner, said: «PPB has been working with us since 2008, when important energy efficiency improvements were made on site in the context of our Ukraine Energy Efficiency Programme. This company is an industry benchmark in terms of its transparency and business attitude. The EBRD and other local and international shareholders of PPB are very happy to support the development and growth of this excellent Ukrainian business.» The Bank is continuing to commit more resources to support agriculture a locomotive sector of the Ukrainian economy. Almost US$ 160 million (€ 116 million) has been provided by the EBRD to various agribusiness clients in Ukraine from the beginning of 2014.
The EBRD is the largest financial investor in Ukraine. As of the end of August 2014 the Bank had committed almost €9.54 billion (US$ 12.34 billion) through 336 projects in the country.
