| 2010 News |
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| Parties reach agreement: BorsodChem to be acquired by the Chinese |
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| After several months of bargaining, media bickering and other delicate manoeuvring, Wanhua Industrial Group and the Permira-VCP duo agreed on the future of Hungarian chemical company BorsodChem. |
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| 26.02.2010 |
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| Wanhua Provides 140 Million Euros to BorsodChem |
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Feb. 25 (Bloomberg) -- Wanhua Industrial Group Co., a Chinese maker of a chemical used in insulation, will provide 140 million euros ($189 million) to reorganize the debt of Hungary’s BorsodChem Nyrt. by buying an option for stocks.
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| 26.02.2010 |
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| Consensual agreement achieved between Permira Funds/VCP and Wanhua on BorsodChem’s financial restructuring |
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| Budapest, 25 February 2010 – Hungarian isocyanate producer BorsodChem Zrt. announces that, after several months of intense negotiations, Permira Funds and VCP Capital Partners, the company’s owners, and Wanhua Industrial Group (Wanhua), a strategic investor, have agreed on a consensual restructuring of the capital structure of BorsodChem. The current consensual solution will stabilize the operations of BorsodChem and provide the company with significant further financial flexibility and a solid platform for long term growth. |
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| 25.02.2010 |
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| China's Wanhua to Provide EUR140M to Hungary’s BorsodChem |
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BUDAPEST (Dow Jones)--Chinese isocyanate producer Wanhua Industrial agreed Thursday with U.K. private equity company Permira and VCP Capital Partners, the owners of Hungarian isocyanate producer BorsodChem Zrt. (BCHEM.HU), that Wanhua will provide EUR140 million to BorsodChem in exchange for a call option to buy Permira's and VCP's entire stake in BorsodChem.
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| 25.02.2010 |
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| FHB to buy back HUF 30bn of shares from state |
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Budapest, February 19, 2010 - FHB Bank on Friday said its board decided to exercise its call option
for all HUF 30bn of special dividend preference shares from the state.
The state subscribed the shares in a capital raise in the spring of 2009. The measure was part of a
programme to stabilise Hungary's banking system at the height of the crisis and drew on IMF support. |
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| 22.02.2010 |
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| Fresenius NephroCare Polska takes over chain of dialysis stations from HAND-PROD. VCP acted as the exclusive investment banking advisor to HAND-PROD. |
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The biggest dialysis station operator in Poland, Fresenius NephroCare Polska sp. z o.o. (FNCP), took over 8 dialysis stations from HAND-PROD sp. z o.o. The agreement was signed on January 14, 2010, whereas the incorporation of the dialysis stations into FNCP’s operations will take approximately six months.
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| 26.01.2010 |
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