Project description
and objectives:
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The Hungarian Special Restructuring Programme (SRP) will undertake equity investments to support the restructuring and turnaround of viable under-performing companies. The Hungarian SRP will restructure medium-sized companies by providing higher risk equity finance, hands-on turnaround management expertise, technical cooperation support, and a framework to promote debt and operational restructuring.
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Sub-projects:
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- SRP - Hungarian SRP - Ganz Gipgyar Holding Kft
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Transition impact:
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The Hungarian SRP will provide know-how transfer, improved corporate governance, and higher risk equity capital. This will support banks in their efforts to restructure problem loans.
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The client:
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The Hungarian SRP will invest exclusively in viable under-performing medium-sized companies which have limited ability to raise capital. This will include companies in the work-out portfolios of local banks and recent management buy-outs that have significantly under-performed since privatisation. The operation will be managed by a German turnaround specialist, Sandtner Hamilton & Management GmbH.
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EBRD finance:
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Up to ECU 30 million of early-stage equity to be invested in a portfolio of 10 to 15 Hungarian companies through a managed account facility.
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Total project cost:
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Up to ECU 30 million.
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Environmental impact:
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In this project the manager will be required to adopt and implement the Bank's Environmental Procedures for Funds.
All environmental studies will involve a comparison of the environmental and health and safety standards of the investee companies with Hungarian and EU standards. Environmental Action Plans will need to include measures required to achieve compliance with these standards within a timeframe satisfactory to the Bank.
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Technical
cooperation:
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The Hungarian SRP will be supported by technical cooperation funds of up to ECU 5.4 million.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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EBRD contact:
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Tony Mayer, Operation Leader: mayera@bud.ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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