Deal round-up 04/04/02

RPEM buys confectionery subsidiary; ACT leads second round financing

RPEM buys confectionery subsidiary

Austrian private equity firm Raiffeisen Private Equity Management (RPEM) has agreed to buy Stollwerck Budapest, the Hungarian subsidiary of German confectionery company Stollwerck. Stollwerck Budapest holds about 30 per cent of Hungary's confectionery market. The terms of the acquisition have not been disclosed.

The investment for this fund comes from the Raiffeisen CEE Private Equity Fund, an E83m fund focussing on the EU enlargement countries of CEE, with emphasis on Poland, the Czech Republic and Hungary. RPEM is the international private equity management organization of the Raiffeisen Zentralbank Austria Group.

ACT leads second round financing

ACT Venture Capital, the Irish venture capital firm, has announced the completion of a second round of financing for Prediction Dynamics, a developer of financial models.

Prediction Dynamics has raised E1.34m, with ACT providing E700,000 of the funds raised. The remainder was provided by Enterprise Ireland, a government-backed VC fund. ACT provided E650,000 first round financing to Prediction Dynamics in June 2001. The firm intends to use the financing to further develop its predictive time-series models for financial markets.