ANNOUNCEMENT 20 Dec 2018

In December 2018, the European Investment Bank (EIB) signed a loan agreement with MERLIN Properties SOCIMI, S.A. to support its development of four new logistics parks in Spain.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Financed Projects: http://www.eib.org/en/projects/loan/loan/20170977
EIB press release of 28 December 2018, Investment and jobs in Castilla-La Mancha: EIB provides financing to MERLIN to build four latest generation logistics parks: http://www.eib.org/en/infocentre/press/releases/all/2018/2018-367-investment-and-jobs-in-castilla-la-mancha-eib-provides-financing-to-merlin-to-build-four-latest-generation-logistics-parks
MERLIN Properties SOCIMI, S.A.: http://www.merlinproperties.com/en/who-we-are/the-company/

Inception date: 20 Dec 2018 | Removal date: open ended
Still in force

State loan

The European Investment Bank (EIB) approved EUR 115 million (approx. USD 131.4 million) in financing to the Spanish company MERLIN Properties SOCIMI, S.A. On 20 December 2018, a loan agreement between the EIB and MERLIN was signed having a total approximate value of EUR 51 million. The EIB financing will support the company's development of four new logistics parks in Spain.

According to the EIB: "The project will make it possible to meet the growing demand for space and logistics services driven by various factors including the growth of online retail."

Additionally, the EIB Vice-President Emma Navarro stated: "We are delighted to support a project that contributes to economic, social and territorial cohesion within the EU by developing modern and sustainable logistics facilities helping to meet the growing needs of the sector. This project will generate significant economic and social externalities, both via the boost it will provide to competitiveness and economic development in Castilla-La Mancha and through its major contribution to job creation."

MERLIN Properties SOCIMI, S.A. has its headquarters in Spain and operates in the real estate sector with a focus on office, retail and logistics.

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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