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Central & Eastern Europe: November 2001

Private equity investment slumps in Hungary, Czech government to look to private equity firms for privatisation of national telecoms group….

Sharp fall in private equity in Hungary
In the first 11 months of 2001, private equity investment in Hungary fell to $64m, from $103m in the whole of 2000. Most investments were made in buy-outs, according to Viktoria Zombory, president of the Hungarian Venture Capital Association. Early-stage deals suffered the most and received only 34 per cent of the $64m.
Venturedome 30.11.01

Central and Eastern European fund for White Williams
White Williams Private Equity announced the launch of a new fund to invest in Central and Eastern Europe. The European Accession Fund, which has a target size of $250m, will invest in the consumer goods sector in the emerging markets of Poland, the Czech and Slovak republics, Hungary, Slovenia and Baltic countries. With many Central and Eastern European countries on the brink of European Union integration, the fund is expected to capitalise on new market opportunities that this could bring.
AltAssets 6.11.01

Boost for Hungarian economy from restructuring deals
A study released by the Hungarian office of Advent International has shown that investment opportunities will grow in the region as a result of company takeovers, MBOs and outsourcing deals. The study displays the importance of private equity in balancing equity markets, according to Zoltan Toth, CEO of Advent International.
PrivateEquityOnline 27.11.01

Private equity firms to play role in privatisation of Czech telecoms group
The Czech government will look to private equity firms for the privatisation of Cesky Telekom. All types of investors will be invited to bid for a stake in the firm, although the government originally hoped that a large telecommunications company would express interest in taking over the group. Several well known private equity groups have shown an interest in the privatisation, according to banking sources in Prague.
Venturedome 29.11.01

DrKC looks to Poland for buyout opportunities
Private equity firm Dresdner Kleinwort Capital has set up a MBO/MBI networking group in Poland. The group is made up of CEOs and senior managers of Polish businesses and will meet four times a year to discuss the main issues that affect buy-out transactions in the region. MBOs and MBIs are set to become an established way of selling and buying companies in Central Europe and plans are underway to launch similar groups in Hungary and the Czech Republic next year, according to Janusz Heath, managing director of private equity in Central Europe.
PrivateEquityOnline 29.11.01