CEE
EUROPE – Pipeline of EUR 10bn funds
There is a pipeline of mega funds coming to market in the coming months, according to Stef Oostvogels at law firm Oostvogels Pfister Roemers, speaking at the Benelux unquote" Private Equity Congress in Luxembourg this morning. He indicated that many are...
EUROPE - unquote'' Benelux Private Equity Congress
unquote” is excited to bring you the second unquote” Benelux Private Equity Congress, on 19 April 2007 in Luxembourg.
SLOVAKIA - Penta acquires Slovak Privatbanka
Slovak private equity group Penta Investments has acquired a 73% stake in Slovak Privatbanka from Austria’s Meinl Bank. The transaction value has not been disclosed but the financial investor has indicated to acquire the remaining stake by end of 2007.
ESTONIA - Alta Capital Partners buys Polish Mieszko
Estonian Alta Capital Partners has acquired 66.18% of Mieszko, a Polish confectionary producer. The acquisition fits Alta Capital's strategy of building a portfolio of regional players in the dairy food processing and confectionary products. Alta Capital...
CEE – Innova sells Polcard
Central and East European investor Innova Capital has sold its remaining stake in Polish banking card company Polcard in a EUR 243m sale to First Data International, an e-commerce provider. Innova held a 25.24% stake in the company, strategic co-investor...
EUROPE - Covenant-lite loans stoke heavy fears
Reports of banks accepting “covenant-lite” loans to win deals has worried industry professionals. “It is due to an oversupply of capital and a very clear sign of an overheated market,” one banker said. “It is a bad structure and will come unstuck...
CEE – Royalton generates 3.6x money multiple on sale of Ella Bank
Dedicated Central and Eastern European investor Royalton Capital Investors has sold its entire stake in Ella Bank to generate a return of 3.6x money invested and an IRR of 39%. The Hungarian retail bank was sold by Royalton and EDHI to AXA Holdings Belgium....
EUROPE - No overhang, but concerns regarding returns say LPs
'There is no capital overhang,' according to Urs Wietlisbach at Partners Group, speaking at the EVCA Investors' Forum in Geneva on Wednesday. As Thomson revealed that nearly EUR 90bn was raised for investment last year, panelists were quick to point out...
GLOBAL - S&P launches industry index
In a move that underlines the increasing significance of private equity, ratings agency Standard & Poor’s has launched a new index to track the industry’s performance. The tracker will follow the 25 most liquid private equity firms around the globe.
CEE - ICG appoints head for Central and Eastern Europe
European mezzanine specialist Intermediate Capital Group has appointed Aleksander Marcin Ferenc as assistant director responsible for originating and executing deals in Central and Eastern Europe. Prior to joining ICG, he was investment director at Baring...
GLOBAL - Bear Stearns acquires private equity placement agent
Bear Stearns has strengthened its private equity fundraising services with the acquisition of Crane Capital Associates’s fund placement business.
UK/CEE - TRG in new distressed and CEE endeavours
Corporate restructuring business TRG has launched a new Asset Management practice that will focus on distressed and sub-performance private equity investments. Founded in 1981, TRG has experience in distressed, underperforming and end-of-life funds portfolios...
CEE - Bridgepoint to enter Central and Eastern European market
Bridgepoint has announced that it is to open a regional office in Warsaw to address the growing investment opportunities in Central and Eastern Europe. The new office will be led by new partner Khai Tan, the former head of Advent International’s operations...
US - Blackstone buys Equity Office for $39bn in world's largest buyout
The Blackstone Group has secured the world’s largest leveraged buyout, agreeing a $39bn price (£20.2bn) for Equity Office, the biggest office landlord in the US. Blackstone won the deal after fending off competition from real estate investment trust...
Poland - Krokus Private Equity acquires Izoterm
Krokus Private Equity has acquired a 74% stake in thermal insulation services provider Izoterm for around EUR 5m. The company’s president, Mr Józef G³adki will retain a 26% equity stake. This represents the first investment for Krokus from its new...
EUROPE - Return expectations of private equity investors reach record levels
The return expectations of private equity investors have strengthened significantly over the last 12 months – almost half of LPs are now forecasting medium-term returns of 16%+, according to Coller Capital’s latest Global Private Equity Barometer,...
POLAND - FL Group sells Kentpol
FL Group, the private equity arm of Icelandic bank, has fully exited its investment in Polish soft drinks and mineral water company Kentpol to Refresco Holding for an undisclosed sum. Following the transaction, Kentpol will continue to produce under its...
EUROPE - Advent International announces global promotions
Advent International has announced the promotion of 13 members of its global investment team.
CEE - Private equity eyes up Bulgarian telco… again
Private equity firms are reported to be interested in the Bulgarian Telecommunications Company after Novator, the investment vehicle owned by Icelandic billionaire Thor Bjorgolfsson, brought in Lehman Brothers to advise it. Novator acquired a 65% stake...
EUROPE - European Buyout Review shows 2006 record year for private equity
2006 was a record year for European buyouts with the total value of deals topping over EUR 160bn for the first time ever, according to the latest European Buyout Review due to be published in March 2007 by Incisive Media in association with Bridgepoint....
POLAND – bmp exits Bankier pl
bmp AG has exited its remaining stake in Polish company Bankier pl. The shares were placed with institutional investors for an approximate value of EUR 3.2m.
HUNGARY - Riverside exits Salgglas
The Riverside Company has exited Hungarian manufacturer of safety glass Salgglas to CEE Industrial Holdings Ltd. The sale price has not been disclosed, but the exit generated a 4x cash-on-cash return and a gross IRR of 19%.
LITHUANIA - Mid Europa buys Baltic mobile operator for EUR 450m
Mid Europa Partners has agreed to acquire 100% of Baltic mobile operator Bité from TDC for a cash consideration of EUR 450m. Bité has generated an annual revenue growth of 20% over the past two years and the new owner is committed to the continued development...
ESTONIA - Celecure receives EUR 1.6m from four Skype founders
Ambient Sound Investments (ASI) has agreed to invest EUR 1.6m in Estonian biotechnology drug developer Celecure to accelerate the international breakthrough of its projects.