Emitents | mogo AS (213800DOKX626GYVOI32) |
Veids | Būtiski notikumi |
Valoda | EN |
Statuss | Publicēts |
Versija | |
Datums | 2015-06-12 13:57:41 |
Versijas komentārs | |
Teksts |
Mezzanine Management has provided EUR 23.3 million of mezzanine finance to support the growth of Mogo Finance (Mogo), a non-bank car financing provider operating in the Baltics and Georgia.
The
deal was funded through Accession Mezzanine Capital III, Mezzanine
Management’s third investment vehicle. The fund is backed by
reputable institutional investors, including European Bank for
Reconstruction and Development and European Investment
Fund.
The
funds in this deal are earmarked for developing Mogo’s operations
in other countries within the Central and Eastern European region.
Mogo is currently the market leader in the Baltics, with a loan
portfolio in excess of EUR 38 million comprising 20 000 cars and
employing more than 200 people. The firm presently has operations
in Latvia, Lithuania, Estonia and Georgia and plans to work with
Mezzanine Management to expand the group into other countries. The
goal is to make Mogo the leading non-bank car financing firm in the
wider
Central and Eastern European
region over the next few years.
“We
look forward to working with Accession Mezzanine Capital III to
continue to grow our business.
The investment of such a global and
reputable investment fund
is a strong vote of confidence for Mogo, its shareholders,
employees and current strategy. Our new partnership lays down solid
foundations for further expansion of the group, and
reinforces
our belief in our business strategy,”
said
Jēkabs Endziņš, board member of Mogo.
Franz Hörhager, Founder Partner of Mezzanine
Management,
commented:
“We constantly map the market and have seen the Baltics become more
attractive and thus active in recent years. The development of the
economies there has made the region more interesting for us,
evidenced by our signing two deals there in four months. The
latest, in Mogo, is in a sector we know well, having backed
Masterlease in Poland previously. We believe our experience in this
segment combined with the strength of Mogo’s management team means
we can work well together in achieving the business’s growth
ambitions.”
Mezzanine
Management was advised by DELOITTE as well as law firms NORTON ROSE
FULBRIGHT, TARK GRUNTE SUTKIENE, ARENDT & MEDERNACH and DLA
PIPER.
Mogo
was advised by PORTA FINANCE and law firm EVERSHEDS
BITĀNS.
Mezzanine
Management
is an exclusive advisor to the Accession Mezzanine Capital group of
funds, whose total commitments exceeded half a billion euros. The
company has been operating in Central and Eastern Europe since 2001
through its offices in Vienna, Warsaw, Bucharest, Budapest and
Kiev. The funds’ investment portfolio is diverse and includes over
40 transactions over 10 countries in Central and Eastern Europe.
The fund is backed by reputable institutional investors, including
European Bank for Reconstruction and Development and European
Investment Fund. Mogo Finance is one of the fastest-growing non-bank car financing companies in the Baltics and Georgia. It offers its clients standard financial leasing as well as loans secured with a vehicle owned by the client. The company has 28 branches in 26 cities in four countries. The group co-operates with more than 500 car dealerships and employs more than 200 people. Mogo's subsidiary in Latvia is 100% owned by the parent company Mogo Finance S.A. In 2014, JSC Mogo issued 20,000 bonds with the total value of EUR 20 million on the debt securities' list of the Baltic NASDAQ exchange. The deal concluded with Mezzanine Management in June 2015 was aimed to attract additional financing for the development of the company at the group level. Further information:
Elīna Dobulāne, +371 25959447
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