Enterprise Investors, the largest independent private equity firm in Poland with $725m under management, is planning to sell its stake in Polish aluminium products firm Grupa Kety in the next two months.
Alongside Credit Suisse First Boston (CSFB), Enterprise Investors holds a 29.5 per cent stake in Kety through its Polish-American Enterprise Fund and its Polish Private Equity Funds I and II. Enterprise Investors acquired its 19 per cent stake in Kety for an undiclosed sum in 1995.
Reuters reports that the firm is looking to sell the shares at around E11 (ZL 44-46), which would value the 29.5 per cent stake at just over E30m. The transaction is to be completed through a special bourse session, where all interested investors will be able to purchase shares in the company.
Kety had a net consolidated profit of E2.5m in the first quarter of 2002, down 21 per cent on the previous year, against sales of E35.5m. It is Poland’s largest producer of aluminum goods and packaging materials for the food industry.
Meanwhile, Enterprise Investors has this week confirmed that former Polish government advisor Tod Kersten has rejoined EI for his second spell at the firm. Kersten’s role will see him working on exits from the firm’s portfolio companies. He will also work on building and maintaining relationships with existing and potential investors in the funds managed by Enterprise Investors.