Press release - 3 July 2006
CapMan exits Drobe
Funds managed by CapMan have sold their holding in Lithuanian Drobe Wool Company to Plaza Corporation, a Lithuanian industrial development company. Drobe is one of the largest textile producers in the Baltic states. The exit does not have impact on CapMan Plc’s result for 2006, as the exiting funds have not begun to generate carry. The exit also does not have impact on earlier estimates for the transfer of the funds to carry.
CapMan funds Finnventure IV and Finnventure V invested in Drobe in 2000 together with the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC). Drobe produces wool-based worsted woven fabrics for men’s and ladies’ accessories and clothing. The company’s turnover in 2005 was EUR 21 million.
For further information, please contact:
Petri Saavalainen, Senior Partner, CapMan Technology, tel. +358 9 6155 8314 or +358 500 415 911
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