Vinterra gets $1.5m

Wine company Vinterra will get a non-repayable SAPARD loan worth $830,000, which it will use to update the grape processing capacities. The SAPARD funds will add to a capital injection worth $700,000, discreetly provided at the end of last year by investment fund Trans-Balkan Fund Romania, managed by US company SEAF. “The bulk of the Trans-Balkan Fund Romania investment ($500,000) accounts for a capital increase. The rest of $200,000 is a long-term loan granted to the company by the investment fund,” Nicolae David, the general manager of Vinterra, told Ziarul Financiar. According to David, Trans-Balkan Fund now owns 20% in Vinterra, following last year’s capital increase. ZF