Investment Intelligence provides up-to-date private equity information and news designed for entrepreneurs, private equity investors and corporate acquirors interested in Central & Eastern Europe.

Devin

Advent International to Complete Devin Buyout, Delist Company From BSE

Posted Tue, 26/01/2010 - 00:15

Last September, American buyout firm Advent International purchased a 79% stake in Devin AD from Austria's Soravia Group, with plans to acquire the remaining shares in a takeover bid. Now Advent is poised to delist the Bulgarian water bottler from the Bulgaria Stock Exchange after it completes the acquisition of 95% of company shares. The Bulgarian government has approved Advent's proposal which designates Elana Trading to complete the buyout and the sets the price Advent will pay at BGN 3.50 per share.

Soravia Sells Devin to Advent International

Posted Sun, 27/09/2009 - 20:48

After several months of searching, Austrian investor Soravia Group has reached a deal to sell it's stake in Devin AD to private equity firm Advent International, who will purchase a 75% stake in the Bulgarian beverage company through a share purchase. A takeover bid will follow to acquire all the remaining shares except the 6.75% Devin management will retain.

Soravia Enters Talks With Advent to Sell Devin

Posted Mon, 20/07/2009 - 22:54

After confirming in May that Bulgarian bottled water producer Devin was on the sale block, the Soravia Group has now entered exclusive talks with Global private equity firm Advent International. The talks, which began on July 13th, are aimed at creating a deal to give Advent an 82% stake in Devin including Soravia's 75.3%. At least three other potential buyers have been angling for position in case the deal falls through. Argus Capital and Balkan Accession Fund have been mentioned as two of the others buyers, the third is unknown.