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Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 28492
Company nameProductos Naturales de la Sabana S.A. Alqueria
Sector1Dairy Products
Environmental categoryB
Date SPI disclosedFebruary 1, 2010
Projected board dateMarch 4, 2010
Previous EventsInvested: December 6, 2010
Signed: June 29, 2010
Approved: June 28, 2010
View Environmental & Social Review Summary (ESRS), click here
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Project description
Productos Naturales de la Sabana S.A. Alqueria (“Alqueria” or the “Company”) is the third-largest dairy company in Colombia. The Company processes milk and its sub-products into a wide range of dairy products such as UHT milk, flavored liquid milk, cream and yoghurt – through a JV with Danone -- as well as fruit beverages from concentrate.
The proposed IFC investment (the “Investment”) is an amortizing A-Loan of up to $15 million and preferred shares of up to $5.0 million in favor of Alqueria. The Investment will help the Company implement its 2010 - 2012 investment program, involving: (i) expanding production capacity across plants; (ii) incurring capex aimed at gaining efficiencies and cost reduction; and (iii) increasing/generating incremental working capital.

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