News
30 January 2020
EBRD finances expansion of agro-industrial group Sodrugestvo
In:
Agriculture/food chain
Region:
Europe
The European Bank for Reconstruction and Development has agreed financing worth $90 million for the Turkish and European subsidiaries of Luxembourg-based agricultural commodity processor and trader Sodrugestvo Group.
The group manufactures proteins and oils and distributes agricultural commodities globally.
In Turkey, an $80 million EBRD loan will support foreign direct investment by financing the acquisition by Sodrugestvo of a multi-seed crushing plant in Izmir from Altinyag, a soybean processing company. Of the bank’s loan, $25 million is expected to be syndicated to foreign lenders.
In addition, $10 million will be used by Sodrugestvo to increase the number of its agricultural suppliers in eastern Europe.
