EBRD sells winery stakeThis article was originally published in Foodnews
THE European Bank for Reconstruction and Development (EBRD) has sold its stake in Tikves, a Macedonian winery to the company’s majority shareholder, the private equity fund M6 Investments, for an undisclosed sum. Colin Graham writes: the EBRD became a minority investor in Tikves in 2008, after it injected EUR6.0 million (USD7.3 million) into it. It then granted the Macedonian company a working capital loan of EUR2.5 million, via which the bank will continue to work with Tikves. “The EBRD is delighted to have been able to stand behind Tikves and we are now pleased that the company will remain with a sound investor like M6 Investments,” said Elena Urumovska, head of the EBRD’s office in Skopje.