The loan supports Altex's expansion into the DIY market through the purchase of Bricostore, the fourth largest chain in the sector. As Altex Romania's first acquisition, the transaction marks an important step in the retailer's business diversification.

The EBRD's unfunded risk participation of €21.5 million is the first sub-loan made under the Risk Participation Framework (RSF) agreement signed with Raiffeisen Bank Romania. Under the framework, the EBRD offers unfunded risk participation mechanisms by guaranteeing the partner bank's loans to eligible companies. The financial instrument is designed to support small and medium-sized enterprises, mid-caps and large corporates, with freed-up capital capacity for Raiffeisen Bank Romania to further expand lending to SMEs.

"We are delighted to stand with Raiffeisen Bank Romania in supporting this transaction, which we expect to help foster a robust and dynamic business environment in Romania," said Frederic Lucenet, EBRD Global Head for Manufacturing and Services. Victoria Zinchuk, EBRD Head of Romania, added: "This transaction confirms our strong partnership both with Altex Romania, which has been our client since 2020, and with Raiffeisen Bank Romania."

Dan Ostahie, Founder and CEO of Altex Romania, said: "The acquisition of Bricostore represents a defining moment in Altex's evolution and in our strategy to diversify our business. Through this transaction, we are taking a step toward strengthening our presence in the home-improvement sector."

Cristian Sporiș, Vice-President Corporate and Investment Banking at Raiffeisen Bank Romania, noted this is the first transaction completed as part of their strategic partnership with the EBRD.