EBRD YEAST DEAL
August 1st, 2005
BY KEITH NUTHALLTHE EUROPEAN Bank for Reconstruction and Development (EBRD) has agreed to acquire equity of up to US$30 million in Russian and Ukrainian subsidiaries of France's Lesaffre & Cie, the world's leading producer of yeast and the fifth largest producer of malt. The bank would invest in Russian yeast-making companies OOO SAF Neva and OAO Kurgandroji and the Ukraine's ZAT Nadezhda. Their plants are between 40 and 100 years old and have suffered from underinvestment, said the EBRD, which will cooperate with Lesaffre to modernise, restructure and ...
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