“Natfood” CJSC, Black Sea Trade and Development Bank (BSTDB) and the “Niva Invest” signed new Shareholders Agreement.

According to it, as part of the restructuring, the new shareholder Niva Invest LLC acquired 52% of shares in Natfood. The new agreement is aimed at promoting the activity and development of Natfood company.

Natfood company reported that the signing ceremony was attended by BSTDB Vice President Risk Dragoş Paul Ungureanu, Niva Invest Director Zhorzhik Muradyan and Natfood CJSC Acting General Executive Director Armen Petrosyan.

Dragoş Paul Ungureanu noted that BSTDB provides Natfood with continuous support and expressed hope that the new shareholder will bring its know-how, experience, and market knowledge to boost Natfood’s performance.

Zhorzhik Muradyan and Armen Petrosyan noted that the new shareholder is already actively involved in the management of Natfood:

“Niva Invest has ambitious plans of improving Natfood’s performance and the company itself is prepared to work hard to achieve goals set out by BSTDB and the new shareholder.”

It is noted that Natfood, a leading meat processing company in Armenia, and Black Sea Trade and Development Bank, operating in 11 countries of the Black Sea Region, will have long-term relationships.

Being shareholder of Natfood, BSTDB has provided long-term senior secure debt. Following the restructuring of the loan provided by BSTDB to Natfood in 2009, it was decreased to €5 million and maturity was extended to 2034.