The London based European Bank of Reconstruction and Development (EBRD) and DEG of Germany will buy 30 per cent stake in SREI's Russian venture Zao Srei Leasing. | |
| Milton Stefani, senior vice-president of EBRD, Volker Neuschütz, head of DEG's Russian Federation office and Hemant Kanoria, vice-chairman and managing director of SREI Infrastructure Finance signed the agreement in Moscow. |
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| As a result the equity share capital of Zao SREI would increase from $4 million to $5.7m. |
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| EBRD and DEG would take 15 per cent stake each of the expanded equity. |
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| The alliance includes credit line from EBRD of 5 million Euros. |
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| "EBRD and DEG will increase the level of SREI's involvement in Russia", said Kanoria. |
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| SREI had strong linkages and relationships with the multilateral funding agencies, vendors and its successful experience in India. |
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