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References
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CORPIN supported by Rothschild have advised Menghem Equity Limited on disposal of
Trade and Technology a.s., a Czech provider of DTH-Satellite services in the Czech
and Slovak Republics operating under the brand name Skylink (“Skylink”), to Luxembourg
based M77 Group S.A. (“M77”).
The transaction was closed on 30 September 2011 i.e. in less than five months from
launch of the competitive process. We have acted as exclusive financial adviser
to Menghem on this transaction.
Skylink is the largest Direct to Home – Satellite TV (DTH) operator in terms of
number of customers in the Czech and Slovak Republics, where it currently has more
than 1.5 million customers.
M77 is a M7 Group affiliate. M7 Group owns following satellite players: Canal Digitaal
(the Netherlands); TV Vlaanderen (Belgium); TeleSAT (Belgium and Luxembourg); and
AustriaSAT (Austria).
The acquisition of Skylink by M77 follows the acquisition of CS Link - active in
the same countries - earlier this year. The platforms of CS Link and Skylink jointly
serve over 2.1 million TV households, with an ever increasing number of HD customers.
Some press articles regarding this transaction can be found at:
http://www.parabola.cz/clanky/4458/m77-group-koupila-skylink/
http://www.screendigest.com/news/2011_10_m7_group_continues_acquisitions_in_central_eastern_europe/view.html
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CORPIN acted as exclusive financial adviser to Genesis Private Equity Fund in its
disposal of one of the five Czech leading electrical switchboard producers, ESB
Rozvaděče. The new owner, ESB Elektro, a.s. was established by the current and previous
management of Energetické strojírny Brno, accompanied by a sector investor. In 2010
ESB Rozvaděče achieved sales of CZK301m and EBIT of CZK15.4m.
This transaction represents another successful exit by Genesis from part of its
investment into Energetické strojírny Brno, which was acquired in 2006. The electrical
switchboard production was historically operated as a division of Energetické strojírny
and later in October 2007 separated into the new legal entity – ESB Rozvaděče, a.s.
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COPRIN acted as financial advisor of McBride plc on the acquisition of Dermacol,
a.s., Czech leader in manufacturing of skincare products. McBride is one of the
largest European manufacturers of household products which focuses on “private label”
solutions for its major retail clients.
CORPIN identified this opportunity for McBride among other acquisition opportunities
which we presented to the top management of McBride together with our partners from
Rothschild.
Due to our knowledge of the market CORPIN identified strategic synergy between:
(i) McBride, which obtains a high quality skincare manufacturing facility, which
is a segment with high growth potential of private label products in Europe, and
(ii) the seller, significant Czech commercial firm Alphaduct, which will focus now
on development of Dermacol brand whose ownership will remain with Alphaduct and
the Dermacol brand production will continue under the new experienced manufacturer
McBride. Thanks to this acquisition McBride obtains not only a modern production
facility in Brno but also attractive cosmetic product formulas which fully fits
with McBride’s strategy to become a European leader in the segment of manufacturing
of cosmetic and other skincare products. Brno-based Dermacol a.s. has a potential
to become a significant supplier of skincare products for the whole Europe.
McBride acquired 70% in Dermacol for a total consideration of approx. CZK240m (the
consideration is split and subject to financial performance), while the remaining
30% in Dermacol will be acquired in 2018, for a price which is also subject to a
financial performance.
McBride plc is UK listed company, manufacturer and supplier of household and personal
care products (MCB:LSE). Press release of our client regarding this transaction
can be found here:
http://www.mcbride.co.uk/media/51426/acquisition-of-dermacol-as-020910.pdf
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CORPIN acted as exclusive financial adviser to Genesis Private Equity Fund in its
disposal of 100% equity ownership in JM-montáže to GA Energo technik. This transaction
represents very successful exit by Genesis from part of its investment into Energetické
strojírny Brno, an electrical engineering firm based in Brno, Czech Republic. JM-Montáže
will enable GA Energo technik to substantially expand its market share in construction
and servicing of all levels of electrical current transmission equipment in the
Czech Republic. German-based GA Energo has turnover equal to EUR3bn and is part
of Alpiq Holding, company quoted on a Swiss stock exchange.
Genesis is a private equity and venture capital fund operating in the Czech and
Slovak Republics.
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50:50 joint-venture between Europasta and privately owned food companies Gallo (Spain)
and Cerealis (Portugal), structured as a sale of a half of existing equity ownership
interests held by the former Czech shareholders. Gallo and Cerealis belong to the
leading Western European producers of pasta as well as wheat and other cereal-based
products. The objective of the transaction is to strengthen Europasta’s know-how
in marketing and product development as well as to support acquisition growth in
Central and Eastern Europe to become a leading pasta producer in the CEE.
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As part of Rothschild’s team CORPIN provided independent advisory services to non-executive
directors of ZENTIVA N.V., leading CEE pharmaceutical company, in connection with
a public market offer, made in 2008 which led ultimately to the acquisition of the
company by Sanofi-Aventis.
This transaction was unique in the Czech capital market, as it was the first real
public market takeover offer made for a large company, listed on the Prague Stock
Exchange and the first, which was carried out under revised Czech law on capital
market. Acquisition of Zentiva by Sanofi-Aventis has been recognised as the transaction
of a year by Emea.
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CORPIN with Rothschild advised Bochemie a.s. and other shareholders of Herbacos-Bofarma,
s.r.o., during the disposal to the Italian pharmaceutical company Recordati SpA.
Herbacos-Bofarma is a pharmaceutical company with a portfolio of leading generic
and OTC drugs marketed in the Czech and Slovak markets.
The whole project was organised by the CORPIN and Rothschild at the time of the
deepest economic and financial crisis of late 2008 and 2009 in the standard competitive
sales process.
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CORPIN provided advisory to Europasta B.V., leading Central European producer of
pasta, with respect to the disposal of its non-core bakery operation Pekast to Penam
(Agrofert Group) and subsequent acquisition of the pasta division from Penam.
As a result of this transaction both Europasta and Penam strategically reinforced
their core businesses and disposed of non-core business activities in a mutually
beneficial transaction.
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CORPIN provides advisory to RENOMIA a.s., largest Czech corporate insurance broker.
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