NIB finances A.P. Moller Holding investments in Faerch Group
The Nordic Investment Bank and the Danish A.P. Moller Holding have agreed on a ten-year-maturity loan facility for the company’s transitional investment activities.
The full amount of the DKK2 billion (€269 million) loan facility has been disbursed to partly finance the acquisition of Faerch Group, a sustainable food packaging and recycling company from Denmark. The total acquisition cost was approximately €1.9 billion.
The medium-term investment plans for Faerch include expanding its operations with several recycling plants, which will allow the company to vertically integrate and gain access to high quality recycled Polyethylene Terephthalate for their production facilities. Currently, recycled material composes from 70% to nearly 100% of Faerch’s products, and the company plans to increase its recycling levels further.