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Three Armenian Banks Finance Significant Investment Deal of Armenian Company

For the first time in Armenia a strategic foreign investor acquired an Armenian mining company through joint financing of three Armenian banks. AIM-listed Chaarat Gold HoldingsLimited acquired 100% of shares of “Kapan Mining and Processing Enterprise” CJSC for USD 55M from a company listed on the same stock exchange which is asubsidiary of Russian Polymetal Group.

The acquisition finance was arranged by Ameriabank with successful syndication with  two other Armenian banks. The three banks extended a USD 40M loan of which USD 32M was issued by Ameriabank.

“This deal proved to the international financial communitythatArmenian banks are quite capable to close complicated deals successfully and to consolidate local financial resources for financingof international deals. It also shows that the Armenian economy is attractive for international capital and investments”, - said Gagik Sahakyan, Corporate and Investment Banking Director at Ameriabank.

Artem Volynets, Chief Executive Officer of Chaarat, said: “We are delighted to be the first major foreign investor in Armenia since the revolution.  Environmental, social and corporate governance is core to our culture, strategy and execution. Those values sit well with Armenia’s newly found commitment to transparency – it’s a great country for a company like ours to do business.”

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About Ameriabank CJSC

Ameriabank is a dynamically developing bank and one of the major and most stable financial institutions   in Armenia. The first investment bank in Armenia, Ameriabank has been providing a large package of innovative banking services since 2007. Now Ameriabank CJSC is a universal bank offering corporate, investment and retail banking services in a comprehensive package of banking solutions. Ameriabank is the leading bank in Armenia as measured by all key financial indicators (assets, liabilities, loans portfolio, net profit and equity) according to the 2018 year reportable data. For further information, please visit www.ameriabank.am .

 

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24 Feb
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