Tuesday, 4th May 2010, Velenje
IFC's Credit Committee approved IFC's equity and debt investment in Gorenje
Yesterday, 3 May 2010, the Management Board of Gorenje, d.d., received a notice from IFC that IFC's Credit Committee has recently approved IFC's equity and debt investment in Gorenje, subject to its Board of Directors approval and execution of the relevant legal documentation on 20 May 2010.
IFC was pleased that Gorenje, d.d.,'s Supervisory Board approved on 16 April 2010 an IFC equity investment of 2,252,252 shares, that represent a total price of about EUR 30 million. In order to meet the investment timetable, IFC proposed to seek approval from their Board of Directors on 20 May 2010 to invest in the first round of capital increase for an amount of up to EUR 25 million, and subsequently seek internal approval to participate in the second equity increase for EUR 5 million. Both of proposed investments are subject to IFC's Board of Directors approval and agreement on mutually satisfactory documentation.