Horizon Capital acquires shares in FinComBank and MTB

Horizon Capital expanded its financial institution portfolio further by acquiring a 25% stake in FinComBank (Moldova) and 31.5% stake in MTB (Belarus).

FinComBank (www.fincombank.com)
FinComBank is one of the leading universal banks of Moldova. The bank provides a wide range of financial services to local and foreign clients, including private individuals, small and medium businesses and large enterprises.

FinComBank has 13 branches and 21 offices located in Chisinau and Moldovan regions, enabling the bank to service 70 thousand clients.

As of June 30, 2007 the Bank’s total assets were equal to USD 100 million (€ 74.2 million) and equity totaled USD 14.7 million (€ 10.9 million).

MTB
MTB is a well-positioned and dynamic universal bank in the Republic of Belarus, servicing small and medium enterprises and private clients. The Bank has five branches, three of which are in Minsk, and 15 point of sales or service centers located both in Minsk and other cities of Belarus.

As of June 30, 2007, the Bank’s total assets were equal to USD 94 million (€ 69.8 million) and equity totaled USD 19 million (€ 14.1 million).

Horizon Capital (www.horizoncapital.com.ua)
Horizon Capital is a private equity fund manager that originates and manages investments in mid-cap companies with outstanding growth and profit potential in Ukraine and Moldova. Currently Horizon Capital manages two funds, Emerging Europe Growth Fund (“EEGF”) and Western NIS Enterprise Fund (“WNISEF”), with over USD 280 million under management.

Besides the investments in FinComBank and MTB, Horizon Capital’s outstanding investments in financial services and banking include a 30.85% stake in IMB Group (Ukraine) and a 20% stake in ProCredit Bank (Ukraine). In addition, Horizon Capital has had successful experience as a shareholder in ProCredit Moldova and Moldova-Agroindbank, the largest bank in Moldova – both of which were successfully exited in 2007 and 2006.