AEP ANADOLU ETAP PENKON GIDA VE TAR
Status: Approved 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
AEP Anadolu Etap Penkon Gida ve Tarim Ürünleri Sanayi ve Ticaret A.S. (“Anadolu Etap”) is a joint venture between Anadolu Efes Biracilik ve Malt Sanayi A. S. and Özgörkey Holding A.S., predominantly active in the primary production of fruit and processing of fruit juice concentrate and puree.
What is our funding objective?
FMO intends to participate for up-to EUR 30 million in a EUR 60 million senior and long term EBRD-led syndicated loan facility. The funds will be used for financing working capital requirements of Anadolu Etap while optimizing the balance sheet structure.
Why do we fund this investment?
FMO wishes to support a major agri player in Turkey, who has invested in an integrated value chain for growing healthy fruits for healthy generations. This EBRD-led financing will further support the company’s successful management of its operations, contributing to sustainable development, via primary production of fresh fruit in large-scale orchards in Turkey, women employment in these orchards, generating hard currency income for the country via its exports, and its commitment to the sustainable agriculture principles and distribution / logistics of the products to end consumers in high sanitary and quality standards.
What is the Environmental and Social categorization rationale?
E&S risks are categorized as Category B+ mainly due to working conditions for temporary workers, and supply chain risks. These potential risks can be mitigated when managed according to the following IFC performance standards: PS 1 Assessment and Management of Environmental and Social Risks, PS 2 Labor and working conditions, PS 3 Resource Efficiency and Pollution Prevention, PS 4 Community Health, Safety and Security, and PS 6 Biodiversity Conservation and Sustainable Management of Living Natural Resources. There is no new land acquisition neither involuntary resettlement (PS5) as part of this project. The project sites are not in the sphere of influence of Indigenous People (PS 7) nor Cultural heritage (PS8), based on this performance standards 5, 7, and 8 are not applicable. If FMO’s investment proceeds, FMO will periodically review the project’s compliance with the Performance Standards and adequate mitigation measures will be agreed.
- Region
- Europe & Central Asia
- Country
- Türkiye
- Sector
- Agribusiness, Food & Water
- Publication date
- 12/23/2019
- Effective date
- 5/14/2020
- Total FMO financing
- EUR 30.00 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+