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Istethmary Sarjevo City Center Ltd. (Bosnia)
Istethmary Sarjevo City Center limited ("SCC"), is a limited liability company established by IIB in the Cayman Islands for acquiring a 28.31% indirect equity stake in Magros Veletrgovina d.d. ("Magros"), a company incorporated in Bosnia and Herzegovina, for developing a real estate complex comprising of a five-star hotel, commercial offices and a shopping mall and entertainment center in Sarajevo under the brand name "Sarajevo City Center". The complex will be developed on a 10,585 sqm plot of land in Marijin Dvor, the most affluent area in central Sarajevo, next to the Parliament Building.
IIB anticipates that the expected returns to the Investors will be realized in the form of dividend distributions by SCC and capital gains at exit from the Investment. The projected annual IRR to the Investors is in excess of 20% over an investment horizon of five years.
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