EBRD May Finance Axereal’s Grain Project in Southeastern Europe

The European Bank for Reconstruction and Development is considering a loan and equity investment in Axereal, a French agro-industrial cooperative that plans to buy grain silos in Serbia, Romania, Hungary and Croatia.

The 28 million-euro ($37 million) loan would boost Axereal’s working capital and an equity investment of 10 million euro would help it purchase the silos, the London-based lender said in an e-mailed statement. It will also provide advance financing to farmers for quality seeds and fertilizers, the lender said.

The project requires the EBRD’s board approval on March 26.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.