BAC Romania | Track Recordbullet

Solid transaction track-record accross the Balkans

M&A: SELL-SIDE ADVISORY



 

bulletBAC Romania acted as sell-side advisor to the shareholders of Dent Estet, the leading Romanian private dental clinics, on the sale of a majority stake to MedLife, the largest private medical services operator in Romania



 

bulletExclusive sell-side transaction advisory services for the privatisation of Duvanska Industrija Senta Shareholding Company



 

bulletLead transaction advisory to OTP Bank on privatisation of Jubanka.  Responsibilities included assistance in valuation, due diligence, market research, bidding and negotiation strategy and support



 

bulletExclusive sell-side transaction advisory services for the privatisation of Serbia's oldest and largest tourism and hospitality company - Putnik and the largest hotel group in Nis - Srbija Turist (2003)



 

bulletFinancial restructuring of a major Macedonian ceramic tiles and tableware company and sell-side advisory services for the privatisation Agency of FYR of Macedonia (2000)



 

bulletSell-side services for the sale of Express Bank to Societe Generale (2000) (as a member of an HSBC-lead consortium)



 

bulletSell-side advisory services to private shareholders of Hemus Mark for sale of two minority stakes to Brevelie Urban AG, Austria (1999 and 2004)



 

bulletBAC Romania acted as sell-side adviser on the sale of Romstal Leasing IFN S.A. and Ink Broker to KBC for EUR 70 million.



 

bulletBAC Romania acted as sell-side adviser on the sale of Sitel, a specialist food distribution company, to Maresi of Austria



 

bulletBAC Romania acted as sell-side advisor to the shareholders of Maravet, a leading Romanian animal health company, on the sale of a majority stake to Henry Schein Inc., one of the world



 

bulletBAC Romania assisted Romcab S.A., a producer of cables, electric conductors, power cords and electric wiring in Targu Mures, in attracting a EUR 15 million credit line from International Investment Bank


M&A: BUY-SIDE ADVISORY



 

bulletJoint buy-side transaction advisory mandate for the acquisition of a Serbian cosmetics company



 

bulletBuy-side advisory services for Europa Capital Management for the privatisation of KAI - ceramic tiles company (1998)



 

bulletBuy-side advisory services for Holcim for the privatisation of Usje Cement factory (1998)



 

bulletBuy-side advisory services for Europa Capital Management for the privatisation of Orbitel - internet provider (1999)



 

bulletBuy-side advisory services for Europa Capital Management for the privatisation of Pobeda biscuits factory (1999)



 

bulletBuy-side advisory services for Puratos, Belgium for the post privatisation acquisition of Hlebna Maya yeast factory, Rousse (2000)



 

bulletBuy-side advisory services for Europa Capital Management for the privatisation of Damianitza winery (2000)



 

bulletBuy-side advisory services for Europa Capital Management for the privatisation of Rodina - paper packaging company (2000)



 

bulletBuy-side advisory services for Holcim, Switzerland for the prvatisation of Beloizvorski Cement (1997 and 2001)



 

bulletBuy-side advisory services for Tanweer Group, Greece for the privatisation of Sofia city chain of cinemas (2001)



 

bulletJoint buy-side transaction advisory services contract for the acquisition of one of two pharmaceutical companies - Zdravlje, Leskovac and Zorka Pharma, Sabac, completed with the successful acquisition of Zdravlje, Leskova (2002)



 

bulletBuy-side advisory services for Yioula Glass, Greece for the privatisation of Drujba packaging glass factory (1998)



 

bulletBuy-side advisory services for Piraeus Bank, Greece for the privatisation of DSK Bank (2003)



 

bulletBAC Romania advised Romcab Tg. Mures, an automotive components producer on restructuring and disposal of RE assets.  Morgan Stanley acquired ~25% of the company



 

bulletBAC Romania advised Romstal, a leader in the Romanian construction materials market, on the acquisition of Doming (Serbia) for EUR 10 million



 

bulletBAC Romania advised BNP Real Estate on the acquisition of Cornerstone, a leading commercial real estate broker in Romania



 

bulletAdvised Dalkia France in the acquisition of the control stake in the management of DHC Sofica through a management, leasing and long-term concession agreement



 

bulletAdvised Enel, jointly with HSBC, in the privatization of ESM



 

bulletAdvised Julius Baer Investment Management (Artio) on BTC (Bulgaria Telecom) transaction protecting it from delisting/squeeze-out options in 2007



 

bulletBAC Romania acted as buy-side adviser to Infopress Group to complete the acquisition of Revai Nyomda Hungary (one of the largest printing companies in Hungary) from Polestar Group (UK), the largest printing group in Europe



 

bulletBAC Romania acted as buy-side advisor to the shareholders of Maravet, a leading Romanian animal health company, on the acquisition of a significant stake in Biovet Distribution, a veterinary pharmaceuticals distribution firm



 

bulletBAC Romania acted as buy-side advisor to Oil Depol Service, a leading Romanian industrial cleaning and hazardous waste management company, in the acquisition of Ecomaster, the operator of the largest hazardous waste landfill, from The Rompetrol Group (a subsidiary of KazMunayGas)


CORPORATE FINANCE



 

bulletBusiness valuation of Balkanska Banka Skopje (2000)



 

bulletInvestor search and preparation of investor's documentation (teaser, information memorandum) (2002)



 

bulletPost-privatisation financial and operational due diligence of 4th November Sugar Factory, Bitola (2003)



 

bulletFinancial due diligence of Polet, Novi Becej, a construction ceramics company (2003)



 

bulletFinancial due diligence of Jelen Do, a construction materials company (2003)



 

bulletAssisted Citadel in originating and securing the contract with Lukoil for buy-side advisory for the privatisation of Beopetrol (2003)



 

bulletRomania acted as rating adviser to Romexterra Bank in 2005



 

bulletBAC acted as Deputy Project Manager and subcontractor to the consortium led by Gazprombank of Russia and Portland Advisers for the implementation of the South Stream project section in Bulgaria. Three experts of BAC assisted the local project manager in the preparation of the business plan, of the operating and financial model and of the options & bankability report



 

bulletBAC advised the Swiss power company Alpiq with market entry and business development in Bulgaria regarding the transmission, export and sale of power to eligible consumers, issuance of domestic licenses for the transaction of power in Bulgaria etc.



 

bulletValuation report for Maritsa East 2, the largest power plant in Bulgaria



 

bulletBAC acted as adviser in a consortium with Booz Allen Hamilton, in Bulgaria and Macedonia, for EoN Energie in the post-privatization restructuring of the regional power distribution companies in Varna and Gorna Oriahovica



 

bulletBAC Romania advised Standard Bank (London) to acquire EUA from a local power generator, CET Iasi. One of the first and largest EUA spot trades in Romania in 2009



 

bulletBAC Romania acted as advisor to the management team of Infopress to complete the initial MBO transaction from KVOS and subsequently re-capitalize the company through a EUR 12 million capital increase with GED Private Equity.  Infopress is by far the largest printing company in Romania, with about 34% market share in the overall Romanian printing market



 

bulletBAC Romania advised Caroli Foods on its merger with Tabco, the Romanian subsidiary of Campofrio Foods Group, which resulted in the largest Romanian meat processor.



 

bulletSelected as financial adviser to the Bulgarian government, along with HSBC, for the structuring of the financing of the construction project for NPP Belene by Rosatom, worth EUR 6 billion



 

bulletAlong with the management team, BAC Romania has financed and structured the acquisition of News Outdoor (Romania), one of the largest OOH advertising companies in Romania, from a consortium formed by VTB and Alfa Capital Partners (Russia)



 

bulletBAC Romania was involved in the financial due diligence process for the acquisition of an ERP developer by NTT Data, a Japanese corporation providing IT and telecommunication services



 

bulletBAC Romania acted as adviser to Maravet and performed a financial analysis with respect to the potential acquisition of an important veterinary pharmaceutical products distributor in Romania



 

bulletBAC Romania is part of the consortium selected as Legal Adviser to assist the Ministry of Transport and Maritime Affairs of Montenegro in preparation for the Bar-Boljare Highway Construction Project. BAC will advise on the financing terms, structure of the financing and financial provisions of the financing documentation



 

bulletBAC Romania assisted International Investment Bank - Moscow (IIB) in originating and arranging a EUR 10 million credit line to BT Leasing Transilvania IFN S.A. (Romania)



 

bulletBAC Investment Banking acquired 25% of the share capital of FloriDeLux, the largest online flower retailer in Romania, with a view to support the strategic development of the business. As part of the transaction, Mediafax, Romania



 

bulletBAC acted as financial adviser to Eurohold Group in originating and arranging a EUR 15 million credit line from International Investment Bank



 

bulletBAC acted as financial adviser to Sparky Eltos in originating and arranging a EUR 10 million credit line from International Investment Bank


CAPITAL MARKETS



 

bulletCo-manager in a team with United Bulgarian Bank; the team brought 7% of global demand and placed 4% of bonds to 17 investors



 

bulletBAC/BAC IP - Co-manager of Chimimport Holding JSC's IPO



 

bulletBAC/BAC IP - Lead manager of Bulgartabac Holding's entitles privatisation through the Bulgarian Stock Exchange



 

bulletJoint lead manager for the debut mortgage bond



 

bulletJoint lead manager for the debut mortgage bond



 

bulletJoint lead manager for the debut corporate bond



 

bulletBAC Romania acted as sell-side adviser on Biofarm's public offering, the largest local secondary public offering in 2005



 

bulletBAC/BAC IP - Lead manager of the listing of privatization entities of Bulgartabac Holding on the Sofia Stock Exchange



 

bulletIPO of a top Bulgarian road construction company



 

bulletPre-IPO and IPO services as co-manager for an important producer of manual use tools in Bulgaria - Sparky Eltos. BAC performed the studies, valuations, investor approach and technical execution.



 

bulletBAC was co-manager in the IPO of a top 3 edible oil and biodiesel producer and cereals trader in Bulgaria



 

bulletIPO of one of the largest producers of construction/ceramic materials in Southeastern Europe - Kaolin. BAC was co-manager, performing the studies, valuations, investor approach, technical execution.



 

bulletBAC was co-manager in the secondary public offering of the company owning the Bulgarian Danube fleet. BAC performed the studies, valuations, investor approach and technical execution.



 

bulletIPO of a "top 10" Bulgarian commercial bank in term of assets - First Investment Bank. BAC performed the studies, valuations, investor approach and technical execution.



 

bulletBAC acted as adviser for transaction structuring and listing. The transaction of the Group



 

bulletBAC worked alongside HSBC in the EUR 950 million sovereign Bulgarian Eurobond. BAC secured the largest amount of local orders (just under 20, for a total amount of EUR 163 million) and the largest single amount of orders from non-lead managers



 

bulletLead manager to the mandatory tender offer by VTB Capital to the minority shareholders (MTO) as a result of a change of ownership. In November 2012, 94% of BTC was acquired for EUR 130Mn. The majority shareholder reached 99.72%. 44 foreign and local institutional clients participated, alongside 14 retail clients



 

bulletBAC was co-manager of the debut Eurobond of the biggest company in Bulgaria, as well as the largest state company and the largest energy company, Bulgaria Energy Holding (BEH) in a deal announced initially at EUR 250mn but ultimately achieving demand of EUR 1.2bn and closed with EUR 500mn Eurobond issued in November 2013



 

bulletKJK Fund II Sicav-Sif Balkan Discovery, an investment fund focusing on the Balkan region acquired 12% of the outstanding share capital of Eurohold Bulgaria AD. BAC acted as financial advisor to Eurohold Bulgaria AD on the transaction. The funds will be used to strengthen Euroins Insurance Group



 

bulletBAC is currently working with HSBC for the Bulgarian sovereign Eurobond expected to be issued in the first half of 2015



 

bulletBAC acted as Sole Lead Manager of the MTO equity deal for Energo Pro Sales in Bulgaria (EUR 18mn market cap), reaching levels of 98.747% with a very high success ratio of 86.88% of all the shares tendered. Prior to the MTO, the mother company owned just over 90% of the company



 

bulletBAC acted as Sole Lead Manager of the MTO equity deal for Energo Pro Grid Electricity Company in Bulgaria (EUR 110mn market cap), reaching levels of 99.554% with a very high success ratio of 95.46% of all the shares tendered. Prior to the MTO, the mother company owned just over 90% of the company


ASSET MANAGEMENT



 

bulletBAC Romania was lead investor in acquiring 49% of Delta Distribution, the largest tiles distributor in Romania.  Successful exit through sale to private equity fund



 

bulletBAC Romania advised Romcab Tg. Mures, an automotive components producer on restructuring and disposal of real estate assets.  Morgan Stanley acquired ~25% of the company.