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Advent International launches tender offer for Devin

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7th January 2010 - Advent International, the global private equity firm, today announced that its tender offer for  approximately 9.9% of the shares in Devin AD (“Devin”), Bulgaria’s leading mineral water bottler and distributor of soft drinks,  at BGN 3.5 per share was approved by the Financial Supervision Commission in Sofia. The tender offer will be launched jointly by Advent and Devin’s top managers, who hold a combined share of 90.1% of Devin’s capital.  The price represents a premium of 14% to the price paid for the majority stake acquired from the Soravia Group for BGN 3.06 a share and a premium of 11% to the weighted 3 months average of BGN 3.14 per share. A summary of tender offer is expected to be published in Dnevnik and Pari newspapers on 11 January including a reference to the complete text of tender offer. The text will be available on the web pages of Devin AD (www.devin-bg.com) and the broker Elana Trading (www.elana.net) on the same date. The tender offer will be valid for 28 days from the date of publication and is part of the process,  in line with Art. 157a of the Public Offering of Securities Act, of reducing remaining minority holdings in Devin and delisting the Company upon acquisition of at least 95% of the shares.

Advent International has been investing across Central Europe with local funds and offices since 1994.  The firm has financed and supported a number of companies in the food and drink sector globally to achieve successful growth, including Brewery Holdings in Romania, Star Foods in Poland, Uno in Turkey and Graffigna in Argentina.

Advent’s advisers in executing the tender offer include Elana Trading (brokerage) and CMS Cameron McKenna (legal).

Contacts


Chris Mruck

Managing Partner, Czech Republic

T: +420 234 749 750
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