Yeni Magazacılık A.S. (A101)
Status: Investment in contracting phaseWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our prospective customer?
Yeni Mağazacılık A.Ş. owns and operates a network of discounter-format grocery stores under the A101 brand. Consisting of over 13,000 stores in and 60 regional distribution-centers (DCs), A101 provides affordable food to consumers nationwide in Türkiye.
What is our funding objective?
The funding by FMO will finance capital expenditures of A101 to (i) open new stores and regional distribution centers and (ii) improve energy efficiency of new and existing stores by using, among other, new refrigerating and lightning systems.
Why do we want to fund this investment?
The Project helps A101, an important player in the local food value chain to promote cheaper and more accessible food and further improve health and safety standards. The Project is classified “Green” and may also receive the “Reducing Inequalities” label.
What is the Environmental and Social categorization rationale?
E&S Risk Categorization: B, due to medium environmental and social risks in A101 operations. This is a B-loan and aligns with the assessment of the leading investor EBRD as also noted in the Disclosure Text (https://www.ebrd.com/work-with-us/projects/psd/55393.html). The proposed transaction involves opening new stores and warehouses, and refurbishment projects incorporating resource and energy-efficient technologies such as LED lighting and high-efficiency refrigeration systems. These operations present minimal adverse environmental or social risks and impacts, which are few, typically site-specific, largely reversible, and can be effectively managed through mitigation measures. E&S risks are identified with a focus on grievance mechanisms, including GBVH provisions, occupational health and safety compliance, environmental impact of operations, including emissions, water use, and waste management, and emergency response and road safety. The client has robust E&S management systems, (ISO 14001, ISO 45001, ISO 9001), providing a strong foundation for risk management. Environmental and Social Due Diligence led by our trusted partner EBRD, has led to an ESAP and ongoing monitoring commitments. The client will undergo periodic E&S reporting and additional oversight to ensure compliance with international standards. With proper oversight and mitigation, the risks are expected to remain manageable.
- Region
- Europe & Central Asia
- Country
- Türkiye
- Sector
- Agribusiness, Food & Water
- Publication date
- 3/17/2025
- Deadline for feedback
- 4/16/2025
- Total FMO financing
- USD 50.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B