А1 finances $100 million CEDC deal
A1 officially announces closing the deal with ROUST Trading Limited («RTL») under the terms of which US $100 million in financing will be provided to RTL from an A1 subsidiary. The financing would be for a one-year period, with the possibility of a two-year extension if agreed by the parties under the terms of the agreement.
The financial backing from A1 will go towards the restructuring of CEDC, resolving liquidity issues and providing overall financial stability to the holding company. Complimented by the alcohol market-specific expertise of the RTL team the involvement of A1 will improve CEDC competitiveness and assure stable growth.
“Value creation is an integral part of entrepreneurship, the thing that sets it aside from the simple pursuit of profit. A1 is a pioneering company and we are proud that our involvement allowed for the creation of the world’s #2 alcohol producer, especially one under Russian ownership,” – A1 president Mikhail Khabarov said in a statement.