AIG charges up 46% of Orzel Bialy

AIG Capital Partners has acquired Polskie Przediebiorstwo Ekologiczne Sp. zoo wholly, which owns 46% of Orzel Bialy, a Polish car battery recycler. The equity commitment will be funded by AIG New Europe Fund II, which is sponsored by AIG Investments. In compliance with the Polish public market regulations, AIG NEF II has announced a mandatory tender offer to acquire up to 66% of Orzel Bialy.

Headquartered in Bytom, Orzel Bialy is a waste management company that recycles and produces lead and lead alloys used in the production of new car batteries. The company's shares are traded on the Warsaw Stock Exchange and it had revenues of EUR32.1m in 2006.

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