Exit

bmp Media Investors AG & Co. has announced the successful exit from portfolio company Nugg.ad after four years with them. The Company was sold to Deutsche Post AG subsidiary, Deutsche Post Beteiligungen Holding GmbH. Though Nugg.ad will continue to operate independently, Deutsche Post will own 100% of the company when the transaction is completed. In addition to bmp Media's 2006 investment, Nugg.ad was backed by Media Ventures in 2007 and the European Founders Fund in 2008.

Just a few years after purchasing a Kazakh bank from VTB, Troika Dialog has sold the subsidiary to Kazakhstan’s Eurasian Bank. Eurasian Bank hopes the acquisition of Almaty-based Bank Troika Dialog OJSC will solidify its presence in the area. It will use the new resources as a launching pad to increase the list of products and services it offers throughout Russia.

CapMan Plc has announced a partial exit from its Lumene investment of 2003. The firm has joined co-investor Langholm Capital in selling its interest in Farmos Holding Oy to KilltoClean Oy, which plans to merge the two under the Kiilto name. Farmos was spun off from Lumene in 2008, and various CapMan funds combined to own 60% of the company.

Austrian-based EGGER Holzwerkstoffe GmbH has agreed to acquire a 71% stake in Turkey's Roma Plastik for an undisclosed amount. The shares were sold by Advent International and Turkven Private Equity, who had controlled the company since 2006.

Enterprise Investors has completed a partial divestment of Poland's Harper Hygienics through an IPO on the Warsaw Stock Exchange. The transaction, which consisted of just over 25% of Harpers, or 13 million shares, netted Enterprise's Polish Enterprise Fund V a total of PLN 53.3 million at PLN 4.1 per share.

Making good on plans announced last year, MCI Management has now completed its exit from S4E through the sale of its remaining shares in the company in April. MCI sold the 40.09% stake to Ingalil Holdings Limited and current Supervisory Board president Roman Pudełko, at a price of PLN 6.25 per share. MCI originally entered S4E through an acquisition of nearly 91% in 2001. During the life of the unusually long investment period, the average annual rate of return was about 17%. MCI executed a partial exit in 2007 through an IPO which brought a 35% return.

gamma Capital Partners (gcp), the Austrian VC technology investor, has divested itself from Fatfoogoo through a sale to Digital River. gcp first invested in the e-commerce platform with the initial round of institutional investing in 2007. The deal has Digital River paying about USD 10 million in cash while providing Fatfoogoo shareholders a performance-based earn-out option. For now, Fatfoogoo will continue to operate at its current Austrian location.

Just months after consolidating a 100% stake in Rambler Media, Russian media and entertainment holding company ProfMedia is looking to sell the business it first acquired in late 2006. ProfMedia's initial investment gained a 55% stake in Rambler for an estimated USD 250 million; the asking price has been set at around USD 200 million.

Russian steel producer Severstal is looking to sell their operations in Lucchini, Italy, and Ukraine's Metinvest is apparently one of five potential buyers. Though the identity of the suitors hasn't been confirmed, speculation suggests the Lucchini family, Riva, and Spain's Sidenor are also among them. The deal is expected to take a considerable length of time due to the continued credit crunch, which could potentially lower the sale price when the deal is finally closed.

Daimler AG recently announced it has begun the process to strengthen its position and role KAMAZ, the Russian truck and bus manufacturer in which it already owns a 10% interest. Daimler has teamed up with the EBRD and signed a memorandum of understanding to purchase a 5% stake currently owned by Troika Dialog. Under terms of the proposal, the deal would be completed as two transactions; Daimler would acquire 1% with the EBRD getting the remaining 4%.