Can-Pack Ukraine Ltd.
MIGA issued two guarantees totaling $33.7 million to Can-Pack S.A. and its subsidiary Pol-Am-Pack, both of Poland, for their investment in Ukrainian subsidiary, Can-Pack Ukraine Ltd. The contracts replace a previous contract issued to Can-Pack S.A. in 2003, reflecting Can-Pack’s transfer of 47 percent control of Can-Pack Ukraine to Pol-Am-Pack. The guarantees cover the investors’ equity investment in the project. The coverage protects against the risks of expropriation, war and civil disturbance, and transfer restriction. The project involves the operation of an aluminum beverage can production plant. MIGA is also providing coverage for a shareholder loan, and a management and technical assistance contract for the project under guarantees issued in 2003.