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Grupo Monge
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 26968
Company nameGMG Holding, SA
Central America Region
Sector1Retail (Including Supermarkets, Grocery Stores, etc.)
Environmental categoryB
Date SPI disclosedMarch 27, 2008
Projected board dateApril 28, 2008
Previous EventsInvested: July 11, 2008
Signed: June 3, 2008
Approved: May 28, 2008
View Environmental & Social Review Summary (ESRS), click here
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Project description
Grupo Monge (the Group, or the company) is a leading, family-owned retailer of consumer electronics, household appliances and furniture in Central America, serving mainly low and middle-low income consumers. The company began its retail operations in Costa Rica in 1970 and has since expanded its retail operations to 325 stores in five Regional countries including Costa Rica, Nicaragua, Honduras, Guatemala and El Salvador. The company’s activities also include a wholesaling operation in Costa Rica and a consumer finance arm that complements the retailing business by providing customers with financing for in-store purchases. The company is undertaking an investment program estimated to cost about $425 million to support the expansion of the company’s existing operations and for debt refinancing.

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