Exit

Berlin-based bmp Media Investors has reached an agreement allowing it to fully exit Nokaut.pl, the e-commerce platform which has been part of the bmp portfolio since early 2006. The firm will sell its 34.26% stake to TFI Investors' LBO fund for a price of PLN 5.4 million. The deal is contingent upon the conditions of precedent, including due diligence and the approval of shareholders from both companies. Completion is expected by the end of February.

Austrian asset and investment management firm CRG Capital has reached a deal with Wosana S.A. majority owner, Mr. Pawel Lyson, enabling it to fully exit from the Polish beverage producer after three years of involvement. The firm agreed to sell the 41.8% stake to Lyson in early December despite looking at bids from several other unidentified investors.

American-based Piper Aircraft recently announced plans to enter the market for light sport aircraft after reaching a deal with Slavia Capital to purchase Czech Sport Aircraft. The deal allows Piper it to produce the popular SportCruiser model for distribution worldwide. Though neither party has officially commented on the deal, estimates place the purchase price near USD 30 million.

Benson Oak Capital recently announced a deal to exit Plastkov through the sale of its automotive holdings to Megatech. The sale, whose price is not known, includes three portfolio companies in the automotive injection molding business: Plastkov MR a.s., Plastkov Automotive s.r.o., and BTV Plast s.r.o.

Making good on a planned IPO announcement from parent company MCI Management last fall, ABC Data has begun in earnest the process which will see it listed on the Warsaw Stock Exchange (WSE). The Polish IT company has tendered an issue prospectus to their government's Financial Supervisory Commission and hope to be ready for listing by mid-2010. MCI Management, which will retain control of ABC Data after the IPO, estimates the offering could be worth between PLN 50-100 million, utilizing both institutional and individual investors.

CapMan, the Nordic alternative asset firm based in Helsinki, has reached a deal enabling it to fully divest from Inflight Service Intressenter AB. CapMan's 67% stake in the Swedish travel service company will be sold to Triton for an undisclosed amount. CapMan acquired Inflight Service in 2005 and with the divestiture, is very pleased with the return provided to fund investors. Funds involved in the exit include CapMan Equity VII, CapMan Mezzanine IV, and Finnmezzanine III A and B funds.

Late last week Polish investment firm Enterprise Investors raised the possibility that AVG, the Czech security software firm in which EI is the largest shareholder, could be listed on the Warsaw bourse next year. Citing AVG's importance to the CEE region, EI's Dariusz Pronczuk indicated the firm's desire to have the company listed on a local stock exchange. Should the plans come to fruition, AVG could possibly be the largest IT Company on the Warsaw Stock Exchange while also being listed on either the New York or London Stock Exchange.

PPF Group has announced an agreement to sell its 13.8% stake in ArcelorMittal Ostrava (AMO) for CZK 6.8 billion. The PPF stake in the Czech steel producer will go to AMO's parent company, ArcelorMittal Group, increasing ArcelorMittal’s ownership to just over 96%. The acquisition will allow ArcelorMittal to force out minority shareholders despite their opposition, a move supported by PPF. Minority shareholders attempted to thwart the squeeze-out with a criminal complaint in early summer but were unsuccessful. They maintain their position and are ready to go to court if necessary.

German private equity firm Deutsche Beteiligungs AG (DBAG) has divested itself from Austria's MCE Group through a sale of its stake to Bilfinger Berger AG. Upon approval of government regulators, Bilfinger Berger will pay € 350 million for MCE through a capital increase, exceeding Deutsche Beteiligungs' valuation of the company by as much as €15 million.

In preparation for the company's sale to Cogenco International, Hungarian green energy producer Genesis Energy has increased its share capital by €2.48 million through a private placement underwritten by Genesis Capital Management. The increase was a pre-condition of Genesis Energy's purchase by the American co-generation company based in Denver, Colorado. Once the sale is complete Genesis Energy is expected to replace its entire board, request the resignation of CEO Gábor Rényi, and reduce the management staff.