Source: eKapija | Tuesday, 13.08.2013.| 16:06
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La Fantana takes out EUR 34 million loan for capital increase

Water bottling and distribution company La Fantana has successfully collected EUR 34 million through debt financing, mainly owing to a loan from the Erste Group, Erste Bank Serbia said in a release today.

La Fantana is the leading bottler and distributor of water for corporations in Romania and Serbia, and it is the largest company of the kind in southeast Europe.

The company is controlled by private equity funds managed by Innova Capital.

The euro-denominated financing has been provided by the Erste Group. It encompasses term loans and revolving credit facility. The proceeds will be used for refinancing of the outstanding debt and funding a distribution to shareholders. The package also includes a facility to be used for potential strategic acquisitions.

- Over the last five years La Fantana has been experiencing robust organic growth and completed a strategic acquisition, thus solidifyng its market leadership position and nearly tripling its earnings.

- The company is now set for the next stage of expansion focused on complementary products and new geographies, and we are pleased to receive Erste Group's support for La Fantana's strategy for the years to come - said Innova Capital CEO Krzysztof Krawczyk.

La Fantana supplies a network of more than 100,000 water-cooling units installed across both countries. It holds market shares estimated at 70 percent in Romania and above 60 percent in Serbia.

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