32548 - Santillana

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Summary of Investment Information

Project Number

32548

Company Name

GRUPO SANTILLANA EDUCACION GLOBAL SL.

Date SPI Disclosed

Apr 10, 2013

Country

Latin America and the Caribbean Region

Region

Latin America and the Caribbean

Projected Board Date

Dec 26, 2012

Environmental Category

C - No Impact

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Regional Industry MAS LAC & EUR

Industry

Health, Education and Life Sciences

Previous Events

Approved : Dec 6, 2012
Signed : Mar 11, 2013
Invested : Feb 6, 2014

Sector

Other Training

Project Description

The proposed Project (the “Project”) involves an investment of up to €25 million in A-loan to Grupo Santillana Edicions S.L. (“Santillana” or “Company”). Santillana is a leading textbook and general publishing company in Spain, Portugal and Latin America.

Santillana has five business segments: (i) “Education” – which publishes school textbooks and supplemental materials; (ii) “Languages” - Publishing of language textbooks in English, Spanish and French; (iii) Trade Publishing; (iv) Learning Systems; and (v) Digital.

The Project is to finance Sistema UNO, a digital education learning system targeted for private schools in Latin America.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	32.51
Equity

Development Impact

- Promote innovation in education through an attractive B2B model with potential for system-wide impact.
- Facilitate adoption of digital teaching systems in the "mass market", including both private and, eventually, public schools, by bringing costs down as product penetration expands.
- Improve quality and relevance through the provision of tools with high potential to improve teaching practices and by focusing on promoting bilingualism and providing the school with specific tools to develop 21st century skills.
- Contribute to generating evidence about the potential of digital teaching systems to improve learning outcomes.

- Long term financing partner, supporting Santillana''s strategic transition from print to digital, starting with its "flagship" education business.
- Acess to global knowledge and best practices, and in particular to the "lessons-learned" from more regions that are more advanced in the implementation of digital teaching systems, such as India.
- Support to a company willing to diversify its funding sources and seek long-term financing to undertake strategic growth projects, in particular at a time when financial markets in the company''s home market are in a complex situation and likely to experience significant transformation.

E&S Category Rationale / Risks and Mitigation

This is a Category C project because the project has minimal environmental and social risks. Furthermore, the company’s performance is consistent with international good practice and IFC requirements as follows. The Company’s human resources policy and practices are consistent with national labor laws and PS2 requirements. Santillana uses energy and resource efficiency practices in the setup and operation of its installations. The Santillana’s office building in Mexico city has Leadership in Energy Efficient Design (LEED) certification.

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Local Access of Project Documentation

Federico Blanco Giner
Grupo Santillana de Ediciones S.L.
Avda. De los Artesanos, 6
28760 Tres Cantos, Madrid
Spain
Telephone: 34-91-744-90-60

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