The European Bank for Reconstruction and Development (EBRD) announced on Wednesday that it is providing a €5mln loan to Romanian wholesaler Aquila Part Prod Com S.A. with an option to buy up to €5mln worth of shares from the company’s founding shareholders, according to a press release.
“Last month, Aquila raised €74mln in the biggest initial public offering (IPO) on the Bucharest Stock Exchange in four years,” said EBRD.
The EBRD’s financing will help Aquila to expand its own brand portfolio, implement warehouse automation and enterprise resource planning software to manage and integrate financial, supply-chain, operational, commercial, reporting, manufacturing and human-resource activities.
EBRD explained that the investment will improve the reach of Aquila’s own brands, enhance warehouse productivity and advance the company’s digitalisation.
The loan will also help the company meet working capital and capital expenditure needs. In addition, with the EBRD’s help, Aquila will implement a comprehensive corporate governance action plan.
The EBRD has invested more than €9.4 billion through 481 projects in the country to date, with 77% of that in the private sector.