Sarten to receive EBRD loan

14 November 2011 (Last Updated November 14th, 2011 18:30)

The European Bank for Reconstruction and Development (EBRD) is considering a $20m loan to Sarten, the Turkish metal, PET and plastic packaging company.

The European Bank for Reconstruction and Development (EBRD) is considering a $20m loan to Sarten, the Turkish metal, PET and plastic packaging company.

Sarten hopes the funds will help extend the maturity of its short-term debt incurred to finance its long-term investments in 2010.

The funding will condition the planned acquisition and full consolidation of Sarten's Bulgarian and Romanian operations, which are currently directly owned by the Saribekir family.

The project aims to improve the transparency of the company's ownership structure and is set to enhance its corporate governance.

Sarten has 13 production plants in Turkey and neighbouring countries.