02/11/2014 CORPORATE

Atlantic Grupa invests EBRD's funds in Serbian operations

Atlantic Grupa signed 5 million euros loan from European Bank for Reconstruction and Development (EBRD) for the purpose of energy efficiency and resource efficiency improvements in its Serbian operations. The EBRD financing is part of a wider package arranged in November 2012 that will enable Atlantic Grupa's Serbian based operations to introduce targeted measures for efficiency improvements. On top of efficiency savings the measures are expected to have overall positive effect on environment, such as reduced CO2 emissions.


“We are pleased to continue and intensify our cooperation with Atlantic Grupa. While the loan amount for this new project may seem comparatively modest, the impact of the measures it will finance is expected to be significant. Additionally, it underlines and strengthens the cross-border character of Atlantic Grupa’s and our operations”, said Phil Bennett, EBRD First Vice President


Emil Tedeschi, CEO of Atlantic Grupa, added: „This loan, as a further extension of our successful cooperation with the EBRD, proves Atlantic Grupa to be a reliable and responsible partner. It shows our sustained commitment to improve operations of our companies across the region in a way that will help enhance the quality of life in respective local communities, while ensuring long term cost savings for our business operations.“ 


Atlantic Grupa is a leading regional producer and distributor of fast moving consumer goods, primarily food, beverages, personal care products, food supplements and pharmaceuticals with production sites in Croatia, Germany, Slovenia, Bosnia and Herzegovina, Serbia and FYR Macedonia. Atlantic's brands, such as Cedevita, Cockta, Barcaffe, Grand kafa, Argeta, Donat Mg and Smoki hold leading positions on the South East European markets, with above the average sales growth rates on the markets of Western Europe, as well as in Russia and other CIS countries.


As a long-standing partner, EBRD continuously supports development and expansion of Atlantic Grupa, with special emphasis on cross-border and regional activities and support of energy efficiency as a means of reducing costs and dependency on energy supplies.


In November 2012 Atlantic Grupa, EBRD, International Financing Corporation (IFC) and four commercial banks have signed a refinancing agreement worth 307 milion euros. EBRD has arranged a syndicated loan of 232 million euros, in which the Bank participated with a funding of 60 million euros, while the remaining 172 million euros were syndicated to partner banks. It is one of the most comprehensive financing arrangements EBRD undertook in the region, and the one in which EBRD, as a shareholder and creditor of Atlantic Grupa, confirmed its confidence in the company's business and its prospects.