The European Bank for Reconstruction and Development is lending US$ 250 million to Yeni Mağazacılık to support its acquisition of CarrefourSA in Turkey.
The funding is structured as a sustainability-linked loan — finance where the terms are tied to meeting agreed environmental and social targets, the EBRD informed on Wednesday.
The facility includes a US$ 200 million loan from the EBRD and a further US$ 50 million syndicated to FMO, the Dutch entrepreneurial development bank.
Yeni Mağazacılık operates under the holding group Aydin Grup.
The loan’s key performance indicators include increasing the company’s use of renewable electricity, reducing single-use plastic through reusable crate systems, and improving women’s representation in management.
Elisabetta Falcetti, the EBRD’s managing director for Turkey and the Caucasus, said the financing would support the transaction while delivering “sustainability and inclusion outcomes”.
Deal backed by EBRD and FMO
Osman Yilmaz, chief financial officer of Aydin Group, said the long-term financing from the EBRD and FMO supported the company’s capital structure and the CarrefourSA acquisition.
The EBRD has committed more than €25 billion in Turkey since 2009, largely in the private sector.
