(Reuters) – Banks have lined up 375 million euros ($426.11 million) of leveraged loans to back private equity firm Mid Europa Partners‘ acquisition of a majority stake in Serbian Danube Foods Group, banking sources said on Friday.
UniCredit is leading the financing, with BNP Paribas, Citigroup, ING and Raiffeisen also on the deal, which is due to launch for syndication to investors shortly.
The financing includes an approximate 335 million euro term loan and around 40 million euros of undrawn facilities.
Mid Europa was not immediately available to comment.
Mid Europa announced in February it had signed an agreement to buy a controlling stake in the business, which has subsidiaries producing dairy products, confectionary, mineral water and non-alcoholic beverages.
Mid Europa is familiar with the region having owned Serbian cable operator SBB/Telemach Group which it acquired in 2007 and sold to KKR in 2013.