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August 24, 2014
August 24, 2014
This is bne's Eastern Europe M&A weekly newsletter, a list of the top M&A stories in
the region last week. You can receive the list as a plain text or html email or as a pdf
file. To manage your delivery options:http://businessneweurope.eu/users/subs.php
DEAL TOP STORY
1. Russia's M&A deals down by almost two thirds in 1H14, or is it?
2. Slovak PM seeks greater control of power utility
3. Ukraine to prepare GTS operator privatization by end-2014
4. Uralkali fails to create JV with Belaruskali in 2014
5. Poland races to complete state arms builder
6. Raiffeisen reopens possibility of selling Hungarian unit
DEAL NEWS
7. Lithuania invited to invest in Belarusian processing companies
8. Polish fertilizer giant eyes foreign takeovers
9. Russia's Uralchem takes control of Latvian sea terminal
10. Tatneft awarded $100m in dispute with Ukraine over refinery
DEAL EA
11. Russian firm approves acquisition of gold project in Kazakhstan
DEAL EE
12. Achmea to sell Russian insurance business
13. Alcoa delays pipe JV creation with Russia's Rusnano over sanctions
14. Austria's Palfinger Sets Up Joint Ventures With Russia's KamAZ
15. Bank of Moscow acquires 42.3% of Hals Development
16. Italian regulator approves Rosneft's purchase of stake in Pirelli holding company
17. Kamaz to set up 2 joint ventures with Palfinger
18. Onexim is not selling RBC media holding - RBC chairman
19. Russia's Kristall wants to merge with ALROSA
20. Russian Private Health Group MDMG Continues Expansion With Avicenna
Purchase
21. Ukraine’s president prepares to sell assets via Rothschild-report
DEAL SE
22. Fico proposes stronger Slovak position in Slovenske Eletrarne
DEAL EE - FROM THE DAILIES
23. Ukraine to prepare GTS operator privatization by end-2014
DEAL CE - FROM THE DAILIES
24. Hungarian interior ministry to take control of gas link to Slovakia
25. India's Zomato buys Czech & Slovak online food guides
26. Nordic Buying Czech-Based Outsourcing Unit of ABB Group
DEAL SE - FROM THE DAILIES
27. Montenegro: Saltworks property offered for 179 million EUR
28. Romania: Electrica (EL RO): It is rumoured that Electrica is looking into Enel's
distribution assets for sale (bursa.ro)
29. Serbia seeks buyers for hundreds of loss-making state firms
30. Slovenian daily on a new possible merger of Croatian, Slovene retailers
DEAL EA - FROM THE DAILIES
31. Major Mongolia deals poised to be signed
32. Two gas distributing companies merge in Kazakhstan
DEAL TOP STORY
1. Russia's M&A deals down by almost two thirds in 1H14, or is it?
bne
August 24, 2014
The volume of M&A deals in Russia tanked by almost two thirds (60%) in the first
half of this year, compared to the same period a year earlier to total RUB1.15 trillion
($32.5bn), on the back of the general malaise caused by the Ukrainian crisis.
The fall was not all bad news, or at least the data was distorted by the massive
Rosneft deal to buy TNK-BP: Rosneft's purchase of TNK accounted for $56.8bn of the
total amount of $80.6bn of M&A transactions in 2013, AK&M reports. Counting out
the Rosneft deal then the total of M&A deals last year came to $23.8bn, so the
$32.5bn of deals done in only the first half of this year is actually a big improvement.
Still, the growing geopolitical risks related with the situation around Ukraine have
already hurt deal making, and the deal size is getting smaller. Experts say the base
amount of the M&A market, excluding the largest transactions (over $1bn),
decreased in June, for the first time over the past five months. This indicator reflects
M&A transactions in respect of small and mid-cap companies. The base amount was
$3.38bn in April and $2.8bn in June 2014. The number of those who want to cut
deals is not changing, but the process of negotiations has become more complicated.
Russia has been through this before. Owners used to seeing their companies grow in
double digits are not willing to lower prices, while those buying argue that the
market is pricing assets at lower rates. The owners, who are usually veterans of
several crises, typically choose to sit on their companies confident that the fast
growth is not over, only paused, and wait for the market to recover. The upshot is
the deal volume goes down and prices for assets shrink less than they ought to.
And ironically the number of transactions made by foreign investors with Russian
assets increased over the first half of this year, underscoring the disconnect between
European politicians and their business leaders when it comes to how they see
Russia. Foreign transactions made a total of $7.63bn, up by 1.4 times compared to
the full last year ($5.35bn). One explaination for this boom in foreign-Russian deals
is that Russian companies are selling their foreign assets to foreigners to bank profits
in case sanctions cut them off from their companies.
2. Slovak PM seeks greater control of power utility
Tim Gosling in Prague
August 22, 2014
Slovak Prime Minister Robert Fico announced on August 20 that a probe at the
country's largest power generator Slovenske Elektrarne (SE) will show that it was
privatized below value. The comments come a day after the PM said the state has a
plan to increase its stake in the utility as majority owner Enel looks to sell its 66%
holding.
"I am very glad that proceedings have begun in the case of Slovenske Elektrarne's
privatization," Fico told journalists, according to Bloomberg. "Demonstrably, a
revaluation of assets took place before the privatization that significantly reduced the
value," he added.
Police raided SE offices and facilities across the country on July 23, hunting for
documents related to its 2006 privatisation. One of the locations hit was the
Mochovce nuclear power plant. Enel has come under huge criticism from Bratislava
over delays and budget hikes on expanding the facility. The Italian company pledged
to add two new blocks as part of its purchase of the controlling stake in SE with a
€840m bid.
The raids came less than two weeks after Enel, following months of speculation,
announced on July 10 that it will seek to sell its Slovak assets as part of a debt
reduction drive. The Slovak state retains the remaining 34% in SE, and has the right
to approve any buyer of the Enel stake.
Read more here: http://www.bne.eu/content/slovak-pm-seeks-greater-controlpower-utility
3. Ukraine to prepare GTS operator privatization by end-2014
Concorde Capital
August 21, 2014
The Ukrainian government will prepare a tender for the privatization of a natural gas
transmission system (GTS) operator company by the end of this year, Energy
Minister Yuriy Prodan informed journalists at an Aug. 19 press conference. The
ministry will prepare a presentation of the GTS operator for potential investors in
September.
Last week, Ukraine’s parliament adopted a law that permits the sale of a 49% stake
in an operator state enterprise that will lease the nation’s GTS from the state and will
operate it. Investors from the EU and U.S., which are licensed gas transportation
operators under EU rules, will be allowed to participate in the privatization tender.
At the same press conference, Prodan said Ukraine can import annually from EU
countries up to 16 bcm of natural gas. Over the last two years, Ukraine imported
30.5 bcm of gas p.a., on average. In 2013, Ukraine consumed 50.4 bcm of gas.
Alexander Paraschiy: Attracting EU-based investors into the Ukrainian GTS project
should decrease the probability that EU operators will pursue alternative gas transit
routes from Russia. The planned September discussion with potential investors
should show whether this strategic goal is achievable.
The 16 bcm p.a. import capacity from the West is clearly not enough for Ukraine to
satisfy its demand for gas. At the current level of internal gas consumption, Ukraine
will still need to import at least 10 bcm (or 20% of its consumption) from other
sources. Clearly, the best solution for Ukraine would be to persuade EU-based gas
holdings to amend their contracts with Gazprom to buy gas at the Russian/Ukrainian
border (instead of the Ukraine/EU border). This will enable Ukraine to buy gas at
“the European market” on its own territory, instead of pumping it from the EU.
Theoretically, the privatization of Ukraine’s GTS operator will make such a scenario
more probable, while it would require a lot of time to fulfill.
Meanwhile, Ukraine has accumulated 15.3 bcm of natural gas in its underground
storage tanks as of Aug. 17. At the traditional level of gas consumption, Ukraine will
reach a minimum of stored gas (7 bcm) already in February 2015 (providing gas
imports from the EU will be at the government’s declared maximum and assuming
no radical changes in internal gas production). To survive the heating season of
2014/15 smoothly, Ukraine will have to cut its gas consumption in the winter by at
least 25%, which will be not an easy task.
4. Uralkali fails to create JV with Belaruskali in 2014
bne
August 19, 2014
Russia's fertilizer producer Uralkali cannot create a joint fertilizer trading venture
with Belarusian Belaruskali, Bloomberg reported on Tuesday quoting Argus FMB
Potash as saying.
However, the companies have settled the issues brought up in mid-2013, when
Uralkali quit a joint trading venture with Belarusian company, changing the strategy
to increasing volumes over prices and decreasing the prices for the supplies to lower
than U.S. $300 per tonne from $400 per tonne.
The Uralkali's decision to quit the joint venture tore down the potash fertilizer
market, as the prices fell by about 33% and the world's companies of the sector lost
billions of U.S. dollars. Belarus started criminal cases against several officials of the
joint venture, including the then Uralkali CEO Vladislav Baumgertner.
5. Poland races to complete state arms builder
Wojciech Kosc in Warsaw
August 22, 2014
Spooked by Russia's role in the crisis in Ukraine, Poland is preparing to boost military
spending. On August 19, it accelerated efforts towards building a state arms
manufacturer, Polska Grupa Zbrojeniowa (PGZ).
The plan to consolidate the Polish weapons sector under the flag of a newly founded
centralized arms group has been around for close to a year. On August 19, antimonopoly office UOKiK cleared PGZ to take over eight companies specializing in the
design, manufacturing and servicing of military equipment, including munitions and
missile manufacturer Mesko and tank producer Bumar-Labedy.
The move came a day after local press reported that the government is working on
legislation that will increase military spending to 2% of GDP, which will boost the
defence budget by PLN800m annually. Defence budgets in Central and Eastern
Europe have come into the spotlight this year, in particular since Russia annexed
Crimea in March. Alongside raising its profile in the region, Nato has complained that
many countries are lagging in spending.
The ruling of the Polish anti-monopoly office gives the green light for a third and final
round of takeovers of defence companies by PGZ. Once completed, the state holding
will have absorbed 24 state-controlled companies in the course of the last 12 months
and PGZ will have an estimated value of PLN 6.5bn (€1.55bn) and annual revenue of
PLN6bn.
Read more here: http://www.bne.eu/content/poland-races-complete-state-armsbuilder-1
6. Raiffeisen reopens possibility of selling Hungarian unit
WSJ
August 21, 2014
Austrian banking group Raiffeisen Bank International AG is keeping its Hungarian
and Ukrainian subsidiaries under review and may sell them in the future, the bank's
chief executive said at a news briefing Thursday, after it published second-quarter
earnings.
Chief Executive Karl Sevelda described the first half as "intense," characterized by
mounting tensions between Russia and Ukraine. Chief Risk Officer Johann Strobl said
legislation in Hungary that could force banks to repay customers certain fees and
interest payments on foreign currency loans would cost Raiffeisen up to 160 million
euros ($213 million) this year.
Mr. Sevelda said that the bank doesn't have any specific plans to sell its Ukrainian or
Hungarian businesses at the moment, although both subsidiaries are under "constant
review." It can't be excluded "that one day [the businesses in] these two countries
will be put up for sale," he said.
To read the full story http://blogs.wsj.com/emergingeurope/2014/08/21/raiffeisenkeeps-hungarian-ukrainian-arms-under-review-may-sell-in-future/
DEAL NEWS
7. Lithuania invited to invest in Belarusian processing companies
Leta
August 20, 2014
Lithuanian businessmen have been invited to invest in Belarusian processing
companies, head of the main department for foreign economic activity of Belarus
Agriculture and Food Ministry Alexei Bogdanov told BelTA after meeting with
Lithuanian Minister of Agriculture Virginija Baltraitiene, cites LETA/ELTA.
"We have suggested investing in the Belarusian processing industry. Belarus and
Lithuania could set up joint ventures to process milk, meat, fruit and vegetables in
Belarus and export the products to the Customs Union member states," Alexei
Bogdanov said. The Lithuanian delegation studied the list of companies in need of
foreign investments and promised to discuss Belarus' proposals with interested
businessmen soon.
The partners also discussed a possibility to boost the bilateral trade, expand contacts
and ramp up cooperation between the veterinary services to protect animals from
African swine fever.
To read the full story http://www.balticcourse.com/eng/markets_and_companies/?doc=95298
8. Polish fertilizer giant eyes foreign takeovers
Polskie Radio
August 22, 2014
Grupa Azoty, the largest Polish chemical company and the second in Europe, has
published a strategy that includes possible takeovers on foreign markets.
The six-year strategic plan is aimed at boosting the company's value by 2020
through acqusitions, organic growth and a 7 billion zloty (1.66 billion euro)
investment plan.
Read more here: http://www.bne.eu/content/polish-fertilizer-giant-eyes-foreigntakeovers
9. Russia's Uralchem takes control of Latvian sea terminal
Press release
August 21, 2014
Uralchem OJSC has become a controlling shareholder in SIA Ventamonjaks.
Ventamonjaks is the largest liquid ammonia transhipment terminal in the Baltic Sea.
It has an annual capacity of 1 million tonnes and is located in the ice-free port of
Ventspils. Uralchem's subsidiary, Uralchem Freight limited, acted on behalf of
Uralchem as a party to the transaction and became the owner of 55% of the shares
in the company, which has 100% shares in SIA Ventamonjaks.
The transaction was carried out with the participation of ABLV bank.
Dmitry Konyaev, General Director of Uralchem OJSC, commented: "The purchase of
the terminal is consistent with our strategic goal of providing logistic security to the
supply of our products. For more than 15 years the enterprises of Uralchem have
been customers of the Ventamonjaks. Uralchem is the leader in Russia in terms of
manufacturing ammonia and intends to increase its production. We are keen to
provide our customers around the world with flexible and the most favourable
conditions for its supply. Our approach to the purchase of the terminal and to its
future management will be identical to our existing project - the Riga Fertilizer
Terminal."
Andrejs Visnauskas, Chairman of the board of directors of SIA Ventamonjaks, said:
"The acquisition of shares in the terminal by the manufacturer and owner of the
transhipped product provides a long-term guarantee for its workload. This is an
important factor for the competitiveness of the terminal, its ability to ensure income
for its owners and to provide jobs and taxes for the Latvian budget. We also hope
that, with the help of Uralchem, we will be able to increase the workload of the
terminal, which has significantly reduced after the global financial crisis."
Uralchem Holding P.L.C., a company incorporated in Cyprus and the holding
company for Uralchem Group, the largest ammonia and ammonium nitrate producer
in Russia and the second largest nitrogen fertilizer producer in Russia.
10. Tatneft awarded $100m in dispute with Ukraine over refinery
UralSib
August 21, 2014
Tatneft may receive $100m for its stake in Ukrainian refinery.
An international arbitration court in Paris has ruled that Ukraine failed to protect
Tatneft’s (TATN RX, TATNP RX – Buy) rights as an investor and must pay the
company $100m in compensation. Tatneft and Tatarstan had controlled 56% in the
UkrTatNafta JV before Ukrainian courts ordered this stake cut almost to zero, in two
major rulings in 2007 and 2009. Ukraine plans to file an appeal in August.
Tatneft was expected to become a major crude supplier to Ukraine. UkrTatNafta was
formed in 1994 as a joint venture between Ukraine and Tatneft. It primary asset is
the 370-kbpd Kremenchug refinery in the Poltava region. The purpose of the JV was
initially to ensure uninterrupted supply of Russian oil to the refinery, with Tatneft
acting as the primary supplier. However, the economics of refining Russian crude in
Ukraine deteriorated after Russia introduced the export duty system in 2002-03.
Award is less than 3% of 2014E EBITDA. Tatneft first asked for $520m in damages,
later increasing the claim to $2.4bn.
However, the value of the Kremenchug refinery under the current tax regimes in
Russia and Ukraine and the uncertainty over future trade ties between the countries
could be close to zero. The award of $100m is probably important as a recognition of
the fact that Tatneft was unfairly stripped of its property, but it will have a limited
impact on the company’s business as it equals less than 3% of 2014E EBITDA. We
have a Buy recommendation for Tatneft.
Alexei Kokin
DEAL EA
11. Russian firm approves acquisition of gold project in Kazakhstan
Azernews
August 22, 2014
The shareholders of the Russian Polymetal International PLC approved the
acquisition of Altynalmas Gold Ltd within the General Meeting held on Aug. 14 in
London, the company reported.
Altynalmas Gold is the holding company for the Kyzyl gold project in Kazakhstan.
A total number of 99.99 percent of voters voted for the acquisition.
Read more here:
http://www.azernews.az/region/69795.html?utm_medium=twitter&utm_source=twit
terfeed
DEAL EE
12. Achmea to sell Russian insurance business
bne
August 18, 2014
Holland's Achmea, which operates in eight European countries besides Russia, will
sell its Russian insurance affiliate Oranta, as seen by Prime in the company's
January-June report on Monday.
Achmea's board of directors revised its Central and Eastern European strategy and
decided to sell the Russian business, the company said in the report without
elaborating. Achmea could not be reached for comment, while Oranta declined to
comment, Prime said.
13. Alcoa delays pipe JV creation with Russia's Rusnano over sanctions
bne
August 19, 2014
U.S. aluminum producer Alcoa has temporarily abandoned plans to set up a drill pipe
joint venture with Russia's state-run technological holding Rusnano due to sanctions
imposed on the country by the U.S., Rusnano CEO Anatoly Chubais said in an
interview to ITAR-TASS released Tuesday.
‚ÄúThe project will be carried out, but on its first stage, Alcoa will invest on its own.
There is the project, but there is no partnership. But we still have an opportunity to
join it at next stages," Chubais said.
14. Austria's Palfinger Sets Up Joint Ventures With Russia's KamAZ
Moscow Times
August 20, 2014
Austrian crane maker Palfinger has agreed with Russian truck maker KamAZ to set
up two joint ventures in Russia this year, pending regulatory approvals.
Palfinger will hold 49 percent of one venture to equip trucks with loading and
handling systems. "The objective is to deliver more than 3,000 truck bodies per year
by 2019," it said in a statement Tuesday. Palfinger will own 51 percent of another
venture that aims to build 80,000 cylinders for cranes, trucks and building machinery
by 2019.
Read more here: http://www.themoscowtimes.com/business/article/austria-spalfinger-sets-up-joint-ventures-with-russia-s-kamaz/505405.html
15. Bank of Moscow acquires 42.3% of Hals Development
Interfax
August 20, 2014
The Bank of Moscow (MOEX: MMBM) has acquired 42.27% of shares in Hals
Development (MOEX: HALS), the bank said in a statement.
Read more here: http://www.bne.eu/content/bank-moscow-acquires-423-halsdevelopment
16. Italian regulator approves Rosneft's purchase of stake in Pirelli holding
company
RAPSI
August 22, 2014
Autorita Garante della Concorrenza e del Mercato, Italian antimonopoly regulator,
has approved Rosneft’s application to acquire up to 50% in Camfin, a holding
company that controls a 26.19% stake in Pirelli, the world’s fifth largest producer of
vehicle tires, RIA Novosti reported Tuesday.
Rosneft said it paid 12 euros per share for its stake in Pirelli.
Read more here: http://www.rapsinews.com/news/20140819/271934184.html
17. Kamaz to set up 2 joint ventures with Palfinger
bne
August 19, 2014
Russian truck producer Kamaz and Palfinger, a company which makes hydraulic,
lifting and handling solutions, agreed on Tuesday to establish two joint ventures,
Prime reported.
One of the joint ventures will produce hydraulic and telescopic cylinders for the
needs of Kamaz, Russian facilities of Palfinger and third companies in Russia and the
CIS. The design capacity is 80,000 hydraulic cylinders annually. Kamaz will have a
49% stake in the company.
Another joint venture will be responsible for an assembly center which will install
cargo lifting equipment on truck chassis. Kamaz will hold a 51% stake in the
company.
18. Onexim is not selling RBC media holding - RBC chairman
bne
August 21, 2014
Derk Sauer, board chairman of Russian media holding RBC, denied a report by
Kommersant business daily on Thursday that its controlling shareholder,
businessman Mikhail Prokhorov's Onexim Group, is selling its 63% stake.
Sauer said there are no negotiations on the sale of RBC, and the holding is not on
sale.
Onexim Group also denied the information. ‚ÄúThe group is not discussing the sale of
the holding," a spokesperson said, cited by Prime.
Kommersant‚Äôs report stated that Mikhail Prokhorov's Onexim Group was in talks to
sell media holding RBC for at least $250m. "Virtually all" large media assets holders
were offered to buy RBC, but Prokhorov did not reach agreements with anyone of
them, Kommersant‚Äôs sources said.
19. Russia's Kristall wants to merge with ALROSA
bne
August 20, 2014
Executives of Russian diamond cutter Kristall have offered Deputy Prime Minister
Yury Trutnev to consider merging the company with diamond mining giant ALROSA,
business daily Kommersant reported Wednesday.
Earlier in August, the Economic Development Ministry proposed excluding diamond
cutter Kristall from a list of strategic enterprises to privatize it.
Kristall CEO Maxim Shkadov appraised the company at $500m. "There are no real
buyers, the business brings small profit," he said, as quoted by the daily. It would be
logical for authorities to "establish a holding locking the entire production chain, from
development to retail sales," Shkadov told Kommersant.
20. Russian Private Health Group MDMG Continues Expansion With Avicenna
Purchase
Moscow Times
August 22, 2014
Russian private health care company MD Medical Group plans to expand into the
country's third-largest city Novosibirsk via a $45.5 million acquisition, its biggest so
far.
MDMG, which specializes in women's health care, said its target Avicenna owns three
clinics and a hospital with a maternity ward and is the largest private health care
company in Russia outside Moscow and St. Petersburg.
Read more here: http://www.themoscowtimes.com/article/505495.html
21. Ukraine’s president prepares to sell assets via Rothschild-report
ITAR-TASS
August 22, 2014
Ukraine’s President Petro Poroshenko has started preparations for selling assets and
he has chosen investment company Rothschild as agent for sales, the company’s
Managing Director Giovanni Salvetti told Friday to local correspondents of radio
station Radio Svoboda.
“We’ve received good news today and we are glad that we have been chosen for this
important transaction. Our company is one of the leading world advisors on merger
and acquisition agreements,” Salvetti told RFE/FL’s Ukrainian Service.
Read more here: http://en.itar-tass.com/economy/746201
DEAL SE
22. Fico proposes stronger Slovak position in Slovenske Eletrarne
Slovak Spectator
August 20, 2014
Slovakia wants to strengthen the state's position in electricity producer Slovenské
Eletrárne (SE). Though Prime Minister Robert Fico says he has a plan for achieving
this, he will wait to see whether Italian firm Enel will sell its 66-percent share in the
company.
"If Enel decides to sell its share in Slovakia, we are ready to significantly strengthen
the state's position," Fico said on August 19, as quoted by the TASR newswire. He
noted how after the change in ownership of the Slovensk_ Plynárensk_ Priemysel
(SPP) gas utility, Slovakia strengthened its position in the firm.
Fico also slammed opposition deputies for their approach to strategic companies.
"People who literally passed around state property and put it into the hands of
foreign owners are behaving like protectors," Fico said, as quoted by SITA. "These
people who talk about strategic companies should be silent. First of all, I would
recommend that they go and look at how the French and German owners treated
SPP, and how Italian company Enel behaves towards SE."
To read the full story
http://spectator.sme.sk/articles/view/55001/10/fico_proposes_stronger_slovak_posi
tion_in_slovenske_eletrarne.html
DEAL EE - FROM THE DAILIES
23. Ukraine to prepare GTS operator privatization by end-2014
Concorde Capital
August 22, 2014
The Ukrainian government will prepare a tender for the privatization of a natural gas
transmission system (GTS) operator company by the end of this year, Energy
Minister Yuriy Prodan informed journalists at an Aug. 19 press conference. The
ministry will prepare a presentation of the GTS operator for potential investors in
September.
Read more here: http://www.bne.eu/content/ukraine-prepare-gts-operatorprivatization-end-2014
DEAL CE - FROM THE DAILIES
24. Hungarian interior ministry to take control of gas link to Slovakia
BBJ
August 22, 2014
The state will take direct ownership in Magyar Gaz Tranzit, a Hungarian company
responsible for the Slovak-Hungarian gas interconnector, currently owned by two
state-owned companies by the end of September, a government resolution taken on
Thursday and published in the Hungarian official gazette Magyar Közlöny shows.
Read more here: http://www.bne.eu/content/hungarian-interior-ministry-takecontrol-gas-link-slovakia
25. India's Zomato buys Czech & Slovak online food guides
The Economic Times
August 22, 2014
Online and mobile restaurant discovery guide Zomato has acquired Czech Republic's
and Slovakia's largest online restaurant guides, Lunchtime.cz and Obedovat.sk, for a
combined amount of $3.25 million.
The buyouts seal the company's entry into East Europe and this is Zomato's second
overseas acquisition after it bought New Zealand based MenuMania, two months ago.
The company spent about $2.2 million for LunchTime and $1 million for Obedovat
and plans to double the headcount to a ..
To read the full story
http://economictimes.indiatimes.com/articleshow/40622104.cms
26. Nordic Buying Czech-Based Outsourcing Unit of ABB Group
Dow Jones
August 21, 2014
Scandinavian firm Nordic Capital is acquiring an outsourcing division of Switzerland
conglomerate ABB Group , completing a sought-after corporate carve-out as buyout
shops chase for primary assets.
In a statement, Nordic said it agreement to buy ABB Full Service, a Czech Republic
based industrial outsourcer, and expect the transaction will be completed in the
fourth quarter.
To read the full story
http://pevc.dowjones.com/Article?an=DJFLBO0120140820ea8khalze&cid=32135028
&ctype=ts&ReturnUrl=http%3a%2f%2fpevc.dowjones.com%2fArticle%3fan%3dDJFL
BO0120140820ea8khalze%26cid%3d32135028%26ctype%3dts
DEAL SE - FROM THE DAILIES
27. Montenegro: Saltworks property offered for 179 million EUR
MINA-BUSINESS
August 20, 2014
The bankruptcy administration of the Bajo Sekulic saltworks has launched a new call
for the sale of the company's property at the reserve price of 179 million EUR.
Read more here: http://www.mnnews.net/indexeng.php3?akcija=clanak&no=23053
28. Romania: Electrica (EL RO): It is rumoured that Electrica is looking into
Enel's distribution assets for sale (bursa.ro)
Raiffeisen
August 20, 2014
* Various rumours came through that Electrica might have accessed the data room
for Enel Distributie Muntenia Sud or the other smaller distribution companies Enel
Distributie Banat and Enel Distributie Dobrogea. State officials also commented that
they would not exclude an offer for Enel's assets coming some state-owned
companies, which again seems to confirm the possibility of Electrica making an offer
for one or more of these assets.
* Another party interested in Enel's assets is apparently China's State Grid
Corporation. RWE and EDF might also be among the contenders.
* Enel intends to sell 64.4% of Enel Distributie Muntenia, the largest distribution
subsidiary in Romania covering Bucharest, and Enel Energie Muntenia (the supply
arm), 51% of Enel Distributie Banat, Enel Distributie Dobrogea and Enel Energie and
100% of Enel Romania. The sale of these assets might be delayed however by the
lawsuits between the state and Enel on the put options held by the state.
Iuliana Mocanu
29. Serbia seeks buyers for hundreds of loss-making state firms
Reuters
August 18, 2014
Serbia's privatisation agency put hundreds of loss-making state-owned firms,
including one of Europe's biggest copper mines, up for sale on Friday as part of
government efforts to rein in borrowing.
Under pressure to avert a national debt crisis, the government of Prime Minister
Aleksandar Vucic is trying to curb a deficit seen reaching 8.3 percent of national
output and cap a public debt level forecast to reach 73 percent.
Read more here: http://www.reuters.com/article/2014/08/15/serbia-privatisationidUSL6N0QK3EU20140815
30. Slovenian daily on a new possible merger of Croatian, Slovene retailers
Dalje
August 19, 2014
Following the Croatian food concern Agrokor's takeover of Slovenia's leading retailer
Mercator, another Croatian-Slovene retail group is likely to be formed, consisting of
the Croatian retailer Plodine from Rijeka and Slovenia's Tus, whose owner Mirko Tus
last week received approval from banks for the re-scheduling of a EUR 400 million
debt, the Slovenian daily Dnevnik reported on Monday.
Read more here: http://dalje.com/en-economy/slovenian-daily-on-a-new-possiblemerger-of-croatian-slovene-retailers/518782
DEAL EA - FROM THE DAILIES
31. Major Mongolia deals poised to be signed
China Daily
August 22, 2014
China and Mongolia are expected to sign deals covering energy, infrastructure and
port use during President Xi Jinping's visit to the neighboring state, according to
Mongolian officials.
Read more here: http://www.bne.eu/content/major-mongolia-deals-poised-besigned
32. Two gas distributing companies merge in Kazakhstan
Bnews
August 22, 2014
Kazakh Aktaugasservis gas distributing company merged with Kazakh KazTransGaz
Aimak, the latter company reported.
Read more here: http://www.bne.eu/content/two-gas-distributing-companiesmerge-kazakhstan

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