EBRD mulls funding new logistics centre for eMAG

Region:

Europe

The European Bank for Reconstruction and Development (EBRD) is considering providing two loans worth up to €36 million ($42.8 million) combined to Romanian online retailer eMAG for a new logistics centre.

A senior loan for up to €18.5 million would be granted to eMAG as part of a syndicated loan of €37 million in order to finance the development of the new logistics facility, the EBRD said in a project summary document.

The second senior loan in the amount of up to €17.5 million would be provided to the online retailer as part of a syndicated loan of €35 million in order to finance the acquisition of state of the art technology and equipment to enable automation at the new logistic centre. eMAG will create a new legal entity - eMAG Operations SRL - in order to develop and operate the new logistics centre.

Both loans are pending approval from the bank, the document showed.

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