M&A News

07 Jul 2010

Acquisition, Chocolate Manufacturing, Romania

Oryxa Capital, the United Kingdom based investment fund, has agreed to acquire Kandia-Excellent SA, the Romanian chocolate manufacturer, from Cadbury Plc, the UK based manufacturer of beverages and confectionery products, and a subsidiary of Kraft Foods Inc, the listed US based manufacturer of branded food and beverage products, including cheese products, cookies and crackers, coffee, salad dressings, packaged dinners and sauces, for an undisclosed consideration.
Kandia-Excelent has workforce of 530 employees. The acquisition includes Kandia-Excelent brands (Rom, Magura, Kandia, Laura, Sugus and Silvana and others), related trademarks and the manufacturing facility in Bucharest. The transaction follows the European Commission's decision to approve Kraft Foods' acquisition of Cadbury plc conditioned on the divesture of its Romanian subsidiary Kandia-Excellent and Cadbury Wedel Sp zoo, the Poland based chocolate confectionary company.
In June 2007, Cadbury acquired Kandia-Excellent for RON 349.76m (EUR 106.95m). Post transaction, Kraft Foods will retain the Cadbury international brands, including Halls candy. The transaction is subject to approval from European Commission.

~ mergermarket
15 Jun 2010

Acquisition, ISP, Hungary

GTS Central Europe, the Poland based European broadband optical and IP network provider and provider of voice and data communications in Central Europe, has agreed to acquire Interware Internet Szolgaltato ZRt, the Hungary based internet and telecom provider, for an undisclosed consideration.

The acquisition is in line with GTS' strategy of enhancing its business in Central & Eastern European region by supplying integrated telecommunications solutions for the carrier and corporate market. The acquisition will enable GTS to provide its customers better service in terms quality and reliability with the help of 1,490 square meters of data center space.

GTS Central Europe is a portfolio company of Columbia Capital, M/C Venture Partners, Bessemer Venture Partners, Oak Investment Partners, HarbourVest Partners, the US based private equity firm and Innova Capital Sp zoo, the Poland based private equity firm. The transaction is subject to competition authority and regulatory approval and expected to close by the end of the third quarter of 2010.

~ mergermarket
03 May 2010

Acquisition, Distillery, Czech Republic

Granette a.s., the Czech Republic based producer of liquors and spirits and wholly owned by Milan Hagan, Czech Republic based private investor holds interests in brewing and spirit market, has acquired Palirna U Zeleneho Stromu - Starorezna Prostejov a.s., the Czech Republic based distillery and exporter of spirits, for an estimated consideration of CEZ 250 million (EUR 9.74 million).
The acquisition is part of Granette’s strategy to expand its distribution net and increase its production capacity. The transaction is expected to create a second largest spirit producer in the Czech market. Current annual production volume of the group amounts 125,000 hectoliters of spirits representing 20% of Czech Republic’s total spirit production. Post acquisition, the companies will continue to operate as separate legal entities with their existing management teams. The acquisition closed on 29 April 2010.

~ mergermarket
26 Apr 2010

Acquisition, Computer Software, Hungary

Asseco Slovakia AS, the listed Slovakia based system integrator and supplier of IT solutions, technologies and services, has agreed to acquire a 60% stake in GLOBENET Zrt, the Hungary based software company from Gadaron Limited, the Cyprus based company, for a maximum consideration of EUR 7.8 million.

Under the terms of the agreement, the deal value will depend on GLOBENET financial performance for the years 2010, 2011 and 2012. Asseco will finance the transaction by capital raised through a 3.56 million share issue held in 2008. With a workforce of 51 people, GLOBENET generated an annual turnover of HUF 854.6 million (EUR 3.23 million) in 2009. Post acquisition, GLOBENET current CEO Zsolt Temesfoi will continue his position as CEO and will retain a share of 40% along with his business partners. The deal is subject to approval from the Slovakian anti-monopoly office and competition authority.
 
Euro-Phoenix assisted Asseco with due diligence.

~ mergermarket
23 Mar 2010

Acquisition, Dairy Distribution, Romania

Bongrain SA, the listed France based company engaged in production of cheese and other dairy products, has agreed to acquire a 84% stake in Delaco, the Romania based dairy distributor, from, Dragos Comaniciu, Tudor Comaniciu, the Romania based private individuals having interest in companies engaged in dairy distribution for an undisclosed consideration.

Delaco has recorded a turnover of EUR 50m in year 2008. The deal is in line with Bongrain's strategy to build the business in central and eastern European countries. Tudor Comaniciu owned 56.17%, Dragos Comaniciu owned 28%, Victor Vartolomei owned 14.08% and Romulus Dumitru owned 1.75% stake in Delaco.
The completion of the transaction which is subject to the approval of Romanian Competition Council is expected to close in the second quarter of 2010.

~ mergermarket
16 Feb 2010

Acquisition, Media, Romania

Editura Evenimentul si Capital, the Romania based media house, has acquired Evenimentul Zilei Daily, the Romanian based daily newspaper and Capital Weekly, the Romania based weekly economic and financial magazine, from Ringier Romania SRL, the Romania based publishing house, a division of Ringier AG, the Switzerland based publishing house, for a minimum consideration of EUR 8m.
 
As per the terms, Editura Evenimentul si Capital will acquire Evenimentul Zilei and Capital Weekly brands along with their satellites and editorial team. Bobby Paunescu, the private investor is the majority shareholder of Editura Evenimentul si Capital. Evenimentul Zilei posted revenues between EUR 4m and EUR 5m, while the Capital posted a turnover of approximately EUR 2m for the year 2009. This acquisition is in line with Ringier Romania's strategy to focus on its resources to digitalize the other brands. The transaction is subject to approval from competition authority.

~ Mergermarket
20 Jan 2010

Acquisition, Life Insurance, Romania

AXA SA, the listed France based insurance group, offering life, property, casualty, reinsurance, financial services and real estate investment services has agreed to acquire Omniasig Life, the Romania based life insurance Company from Omniasig Vienna Insurance Group, the Romania based insurance company and subsidiary of Vienna Insurance Group (VIG), the listed Austria based insurance company, for an undisclosed consideration, estimated to be maximum of EUR 10m.

Omniasig Life generated annual turnover of EUR 14m in 2008 and contributed 2.7% market share in the insurance sector. The acquisition is expected to be closed in the first half of 2010. VIG also owns Asirom, BCR Asigurari and BCR Asigurari de Viata. The disposal will enable VIG to focus on development of these three companies.

~ Mergermarket
15 Dec 2009

Acquisition, Computer Software, Hungary

Asseco Slovakia AS, the listed Slovakia based system integrator and supplier of IT solutions, technologies, and services and subsidiary of Asseco Poland SA, the listed Poland based integrator of information technology and provider of IT solutions, agreed to acquire a 70.04% stake Statlogics Zrt, the Hungary based Software Company, for an undisclosed consideration, estimated to be EUR 8m.
 
Asseco is acquiring the shares from nine individuals. This transaction will be financed by Asseco from its own resources. The agreement also provides that shareholders owning the remaining 29.96% of the shares can make an offer to Asseco to purchase those shares and vice-versa. The acquisition will allow Asseco to enter and enhance its position in the Central European market, with the help of Statlogics's Central European consumer loan solutions. The acquisition will enable Statlogics to strengthen its position in front of existing customers and it will give an opportunity for making potential clients. Statlogics Zrt has generated revenues of EUR 3.8m in the year 2008 and has 75 employees. The transaction is subject to Slovak Antimonopoly Office approval.

~ Mergermarket
25 Nov 2009

Acquisition, Wind Energy, Hungary

MVM Zrt, the Hungarian power company, has acquired Hungarowind Kft, the Hungary based company wind power firm, from Raiffeisen Energy Service Ltd, the Hungarian energy holding subsidiary of Raiffeisen Bank Group, the Austria based bank, for a consideration of EUR 30m. Through the acquisition of ownership by MVM, one of the most important wind farms established in the country, representing nearly 15% of the total wind power plant capacity in Hungary is transferred to domestic, national ownership.

~ Mergermarket
12 Oct 2009

Acquisition, Technical Consultancy, Romania

Imtech NV, the listed Netherlands based provider of technical services like consultancy, engineering, implementation, maintenance and maintenance management has acquired S.C. Arconi Grup S.A., the Romania based provider of technical services, for an undisclosed cash consideration including earn-outs.

Arconi employs over 200 technical specialists and generates annual 2008 revenues of approximately EUR 15m. The transaction will help Imtech to strengthen its position in Romania and improve of its position in Eastern Europe. Through this acquisition, Imtech will offer the entire range of its services to Romanian clients. The acquisition will also expected to be accretive to Imtech’s earnings per share.

~ Mergermarket