CEE private equity firm Penta Investments appears to be planning for new opportunities this year with a target of as much as €800 million in acquisitions. The company has been struggling as of late in identifying and approaching new targets, due to Czech banks having eased off on delinquent borrowers. The banks are apparently willing to be more patient with those clients who have fallen behind on loan payments.
As part of their plans, Penta may also sell Fortuna Group, the largest betting operation in the Czech and Slovak Republics, Croatia, and Poland. Penta acquired Fortuna in 2004. If a sale is conducted it could be through a strategic partner acquiring the entire company or a minority share being offered via an IPO.
Penta Investments (www.pentainvestments.com)
Founded in 1994 as a securities trading company, Penta Investments provides private equity and real estate investment in Russia and Central and Eastern Europe. Penta prefers investments in the engineering, entertainment, healthcare, metallurgy, telecom, transportation, retail, and utilities sectors, with an average life of 3 to 5 years. The firm invests via restructuring projects, buyouts, and buy-ins.
May 31, 2010
Central & Eastern Europe, Croatia, Czech Republic, Poland, Rumors & Speculation, Russia, Slovakia