Summary of Proposed Investment
Project Number
8652
Company Name
Foreign & Colonial Romanian Investment Company plc.
Date SPI Disclosed
Oct 1, 1997
Country
Romania
Industry
other
Status
Completed
Sector
Foreign Portfolio Equity Fund - Country
Department
Equity Portfolio Management
Environmental Category
C - No Impact
Previous Events
Approved : Oct 28, 1997
Signed : Nov 5, 1997
Invested : Nov 6, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Foreign & Colonial Romanian Investment Company plc |
| Region | Europe |
Sector
Project No008652
Projected Board DateOctober 27, 1997
Company NameForeign & Colonial Romanian Investment Company plc
Technical Partner and/or Major Shareholders
Foreign & Colonial Emerging Markets Ltd (FCEM), with US$6.0 billion under management, is one of the world’s leading emerging markets investment management groups. FCEM is controlled by Germany’s Hypo Bank which is in the process of becoming the country’s second largest bank group once the proposed merger with Bayerische Vereinsbank is consummated. In Eastern Europe, FCEM has already sponsored two country-specific funds (Poland and Russia) and a regional one (Hypo Osteuropa).
Project Cost Including proposed IFC investment
US$100 million, of which IFC’s portion will be US$10 million
Location of project and Description of site
Romania’s Stock Exchanges
Description of Company and Purpose of Project
(include IFC’s Role and Development Impact)
The Company will invest in shares of companies being privatized by the Romanian Government. The Company also plans to raise funds from local investors. IFC’s participation will (a) give overall credibility to the project, (b) facilitate the privatization effort and (c) deepen the local capital market.
Environmental Category and Issues
This is an environmental review Category C Project. No further environmental analysis is required.
The is from the Public Information Center.
| Date SPI sent to PIC | October 1, 1997 |
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Sponsor / Cost / Location
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