RDIF and co-investors to invest up to EUR250m in Arc
А consortium of investors led by the Russian Direct Investment Fund (RDIF), CDC International Capital and Bahrain Mumtalakat have closed a transaction to invest up to EUR250 million in glass tableware manufacturer Arc.
The deal follows a preliminary agreement signed on 17 June 2016.
The proceeds from the deal will be used by the company to implement a global investment programme including expansion of its existing production facilities in Russia and construction of a new state-of-the-art glassware plant in Kaliningrad.
The parties have completed the first drawdown of EUR50 million.
Konstantin Ryzhkov, deputy CEO of the RDIF, says: "This is an example of a partnership between sovereign wealth funds to invest into a global company, supporting its development in the countries of operations, as well as leveraging market opportunities and cost advantages that Russia provides. We are pleased that the deal has become our first investment under the Russia-France investment platform."