EBRD RUSSIA BAKERY LOAN
January 1st, 2006
BY KEITH NUTHALL
THE EUROPEAN Bank for Reconstruction and Development (EBRD) has drawn up plans to lend Russia's United Bakers company US$30 million to finance working capital, restructure debt, buy modern biscuit manufacturing equipment, and acquire rival businesses, notably an (unnamed) cereal factory. A bank memorandum said the aim was to enable United Bakers to move from concentrating on bulk manufacturing to the packaged market, competing with western biscuit manufacturers (and their subsidiaries), especially in serving lower income groups within Russia, ...
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