The European Bank for Reconstruction and Development (EBRD) is arranging €18.5 million syndicated loan for Global Beer Georgia (GBG), to support the construction and operation of a greenfield brewery.
The syndicated financing package consists of an “A” loan of €6.2 million of EBRD’s own account, a “B” loan of €6.2 million provided by the Dutch development bank FMO, while the German development bank DEG will act as a parallel lender providing €6.2 million.
Global Beer Georgia’s new brewery will produce both locally developed and international beer brands, such as Heineken®, Krusovice® and Amstel®, to satisfy the demands of a growing Georgian beer market.
The GBG is owned by the JSC Teliani Valley, one of the leading wine producers in the country that is listed on the Georgian Stock Exchange. JSC Teliani Valley currently imports Heineken® and Krusovice® beer to Georgia, but aims to start producing these brands – and also Amstel® in coming years – at home for the first time. The company will also develop a new, local brand of beer.