Deals round-up – PRIVATE EQUITY: CSFB wins Polish privatisation contract

In early June, CSFB Private Equity signed a contract with the Polish Ministry of State Treasury to acquire a 30 per cent controlling stake in Poland’s leading ceramic tile manufacturer, Opoczno. CSFB Private Equity is paying some $22.8 million (EURO24.33 million) for its stake and has undertaken to invest a similar amount in the company to support the construction of a new production facility with an annual capacity of 6 million square metres of tile.

Opoczno, Poland’s leading tile brand with a 38 per cent share of the market, had sales of around $80 million in 1999. The deal is CSFB Private Equity’s third investment in Poland.