📋 Tender Overview
Project ID 55662
Status: Signed
Location: Türkiye
Business Sector: Food and Agribusiness
Notice Type: Private
Project Description
The transaction is an equity co-investment together with Turkey Growth Fund IV L.P. ("Turkven" or "the Fund") and IFC, for the acquisition of Cagatay Evcil Hayvan Mamalari ve Yem Urunleri Sanayi ve Ticaret A.S. ("Cagatay" or "Company").
Project Objectives
The Bank's proceeds has been utilised for the acquisition of Cagatay and support expanding Cagatay's export markets, increasing its production capacity and widening its product range.
Transition Impact
This Project is a co-investment alongside Turkven, in which the Bank is already an investor. As the Turkven's Fund investment and this Project pursue similar goals, the Transition Impact objectives of this Project are aligned with those of the Bank's investment in the Fund which targets the Resilient and Competitive TI qualities. The Project takes the rating of the Fund investment, based on its contribution to the Fund investments' objectives.
Resilient: The growth and enhancement of business standards stemming from value creation initiatives are expected to yield significant returns for co-investors.
Competitive: The investments of the Fund improves the competitiveness of the companies in the target country through significant operational restructuring, improvement in financial performance and/or expansion into new products or markets. The Fund and co-investors will also have board representation and/or necessary targets/milestones, controls and covenants for better corporate governance, operational improvements and value creation are envisaged in all portfolio companies.
