Gold Zack sells investment portfolio

Frankfurt-based equity firm Gold Zack has successfully sold its BergHave investment portfolio, consisting of stakes in four businesses, to a consortium of Dutch companies. As part of the deal Gold Zack made profits in excess of EUR 1m. BergHave, which was established in 1998, has provided an average return on capital of above 20%. The fund was originally managed by Greenfield Capital Partners, which was acquired by Gold Zack in 2000 (June 2000, page 10), until it was integrated into Utrecht-based Gold Zack International. Gold Zack is at present restructuring its portfolio and is looking for alternative forms of exits. Difficulties at Gontard & MetallBank, in which Gold Zack holds a 45.09% stake, have forced the firm to revise down its preliminary results for 2001.

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• DACH