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EQS-Ad-hoc: ProCredit Holding AG & Co. KGaA / Key word(s): Miscellaneous 17.03.2023 / 19:43 CET/EST The signing of two share purchase agreements between the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC), a member of the World Bank Group, today set the stage for a change in the composition of the core shareholder base of the ProCredit Holding AG & Co. KGaA (ProCredit Holding). |
Under the terms of the purchase agreements, EBRD will acquire from IFC a 9.9 percent stake in ProCredit General Partner AG, the sole general partner of ProCredit Holding, and IFC’s remaining 5.06 percent stake in the limited partnership shares in ProCredit Holding.
Upon completion of the transaction, EBRD would replace IFC as ProCredit Holding’s core shareholder and would hold 8.7 percent of its share capital.
The execution of the purchase agreements is subject to the occurrence of formal conditions, including any regulatory approvals that may be required.
By joining as a core shareholder, the EBRD intends to support ProCredit Holding in its transformation into a stock corporation under German law while maintaining its impact orientation. The EBRD also plans to support ProCredit Holding in its strategy and governance, as well as to work with ProCredit Holding to further develop its climate change mitigation activities and to align its operations and financial flows with the goals of the Paris Agreement.