ICE TOPCO LIMITED S.A.
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Fan Milk is the leading manufacturer and distributor of frozen dairy products and juices in West Africa. Since its establishment over 50 years ago, Fan Milk has grown rapidly through a unique distribution network consisting of 31,000 independent vendors. The company currently operates in the markets of Ghana, Nigeria, Togo, Burkina Faso, Benin and Ivory Coast.
What is our funding objective?
FMO participates in an investment consortium alongside The Abraaj Group and Danone in the acquisition of a 100% stake in Fan Milk in order to further the growth and expansion of the company. Key areas of value creation include group strategy, finance and M&A and environmental, social and governance best practices.
Why do we fund this investment?
The investment has a positive inclusive and economic impact through job and livelihood creation as well as via government revenues. FMO will play a role in supporting The Abraaj Group in the development of an environmental and social management system to help the company achieve best practices.
- Region
- Africa
- Country
- Africa
- Sector
- Agribusiness, Food & Water
- Effective date
- 11/15/2013
- End date
- 1/4/2021
- Total FMO financing
- DKK 82.60 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+