We finance infrastructure investments in our country.
We implement investments by taking up shares or equity, bonds convertible into shares, as well as by granting subordinate loans. With regard to equity investments, significant minority stakes are purchased/acquired and the company is controlled by the current owners.
Possible investment circumstances include, among others:
- greenfield investments, i.e. investments completed in a previously undeveloped area and without infrastructure
- brownfield investments, i.e. investments completed through the re-use of areas, buildings or industrial infrastructure facilities that gain new functions.
Potential investment projects are analyzed by the transactional team and are then subjected to the evaluation of the investment committee, the majority of whose members include independent market experts.
At the initial stage of talks, the transactional team carries out a commercial analysis of a project with particular emphasis on the project risk profile (in particular construction and operational risk). An important criterion for assessing the project involves the stability of the cash flows generated by the project and the experience and financial potential of the industry partner with whom the project is carried out. Investments in proven technologies with low operational risk are preferred.
If the transaction team confirms the compliance of a potential investment with the investment strategy, it develops a Preliminary Analysis to submit the project to the investment committee.
If the opinion of the investment committee is positive, the transaction team receives an approval and a budget for conducting the due diligence process. At the same time, the parties begin negotiations of transaction documentation specifying the structure of the transaction and regulating the principles of investment implementation, corporate governance and the division of responsibility in the project.
Upon completion of the due diligence process and the documentation, the transaction team presents the final terms of the investment to the investment committee to issue a final and binding opinion. If the opinion of the investment committee is positive, the parties sign the transaction documentation.
After the conditions precedent have been met and the funds released, the project enters the monitoring phase.