05/08/11: Dufry buys emerging markets businesses for $957 mln

05/08/11: Swiss travel retailer Dufry has bought airport retail operations in five emerging markets,

including Argentina's leading travel retailer Interbaires, for a total $957 million.

* Expands in Argentina, Uruguay, Ecuador, Armenia, Martinique
* Combined annual turnover of new businesses $395 mln
* All transactions fully debt financed
* Dufry structured additional redit facility of $ 1 bln

The new businesses have seen double-digit growth over the past years and reached a combined turnover of $395 million in the 12 months ended May 2011, Dufry said in a statement on Friday.

The transactions have been fully financed with debt, and Dufry entered an additional 5-year syndicated bank facility, the group said.

"The companies that we were able to acquire are among the best in our industry: they are long-term contracts for attractive locations in fast growing emerging markets," Chief Executive Julian Diaz said in the statement.

Dufry paid $285 million for Interbaires, which operates duty-free shops in the five main Argentinean airports, generating turnover of approximately $250 million in 2010, Dufry said.

It also bought retail businesses in Uruguay, Ecuador and Armenia, whose combined turnover represents about $85 million, as well two shops at the international airport in Martinique and a wholesale platform.

The new businesses should be integrated in the next 12 months and be basic EPS accretive from 2012 and core EPS accretive in 2011, Dufry said, adding it expected cumulative synergies of approximately $25 million over the next two years.

Shares in Dufry opened down 3.12 percent in line with a broader fall in global stock markets.

Dufry currently operates around 1,160 shops located at airports, on cruise liners, and at seaports and other tourist locations in 40 countries around the world. (Reporting by Silke Koltrowitz; Editing by Will Waterman)

Source: Reuters

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RB Partners

announces the M&A deals completed in 2011

RB partners is a Russian-British financial advisory boutique providing investment advisory services to Russian and international institutional investors (private equity funds, strategic investors, pension funds, investment companies, banks, etc.) and corporate management advisory services to financial institutions.

RB Partners has successful experience in execution of more than 50 M&A transaction support and debt recovery projects valued for more than US$1.3 billion.

I. RB Partners has recently provided services of a financial advisor to Russia Partners, a pioneer in private equity investing in Russia and the CIS with over US$1 billion of assets under management. Russia Partners is one of the oldest and largest private equity firms operating within Russia and the CIS. In April 2011, a consortium of international private equity investment funds leaded by Russia Partners acquired an additional issue of shares in KupiVIP, the leading Russian E-commerce company offering high fashion wear and clothing accessories. The transaction amounted approximately to 39 million Euros.

II. RB Partners has also acted as a financial advisor to Renaissance Investment Management, one of the world's leading financial groups, for the sale of a package of shares in The Petersburg Social Commercial Bank for approximately 10 million Euros. In April 2011, a package of the bank’s shares was sold to private investors.

III. RB Partners has been an exclusive advisor to the Regional Real Estate Group, a developer of the one of the largest trading and recreation centers in the Central Federal District of Russia being also highly popular for a wide range of offered social and municipal events. In July 2011, 100% of shares in the Regional Real Estate Group have been sold for about 70 million Euros to The Russian Real Estate Investment Fund specializing in the real estate development and retail trading.

For further information please refer to our website, www.rbpartners.ru, or contact

Konstantin Dzhimbinov, Partner

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26.07.11: RB Partners announces M&A deals completed in 2011.
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The Pederzani family-owned EUROPART negotiated a contract with Triton for the sale of the company. Based in Hagen, Germany, EUROPART is a leading distributor of replacement parts for commercial vehicles with a sales volume of more than 400,000 Euros in the year 2010 across 29 countries.

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Bernd Pederzani, Spokesman for the Pederzani family: ìMy siblings and I are very happy to have gained Triton as a professional and responsible equity investor and proprietor. We are convinced that Triton will lead EUROPART into a successful future.î

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Cobalt Corporate Finance LLP is a limited liability partnership registered in England and Wales at 28 Brook Street, London W1K 5DH with number OC333088. Authorised and regulated by the Financial Services Authority.

T +44 (0) 20 7491 1271 F +44 (0) 20 7491 1272 W www.cobaltcf.com

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ìIt is also a good news story for Australian agribusiness. GrainCorp is proud to be an Australian company, with a strong domestic base, growing as a valuable link in the international food chain,î Ms Watkins said.

GermanMalt has four malt houses, with 190,000 tonnes of malting capacity PA, located in the German cities of Worms, Muelheim/Ruhr, Sangerhausen and Clingen.

Source Stock Exchange Announcement(s)

Value GBP 51m (deal size)

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25/07/2011: GrainCorp today announced that it had entered into a binding agreement ('Agreement') to purchase GermanMalt GmbH & Co. KG

22/07/2011 Stroer Group company acquires MegaMedium Nederland

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22/07/2011: BlowUP media Benelux, a Stroer Group company and specialist for large-scale outdoor advertisements, has taken over the Maxdec Group's

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19/07/2011 Continental acquires Modi tyre business

Story Continental, the listed German car parts company, issued the following press release on 18 July:

ï International Automotive Supplier Continental acquires 100% stake in Modi Tyres Company Limited

ï Strengthened presence in India with local production and distribution of bias and radial truck & bus tires and radial passenger car tires

Hanover/Delhi, July 18, 2011. Continental, one of the leading international automotive suppliers and the worldís fourth-largest tire manufacturer, has acquired a 100% shareholding in Modi Tyres Company Limited (MTCL), a subsidiary of Modi Rubber LTD. Further to the announcement in April, Continental confirms that it has now received the necessary regulatory clearances and has completed the acquisition. The purchase price consideration for 100% of the shares of MTCL is approx. EUR 18.5m. Both parties have agreed to keep other commercial details of the transaction confidential.

MTCL has now become a fully owned subsidiary of Continental Corporation and will be renamed as Continental Tyres India Limited. The new entity will focus on local production and distribution of bias and radial truck and bus tires as well as radial passenger car tires for the Indian market.

Commenting on the occasion, Nikolai Setzer, member of Continentalís Executive Board and head of the Passenger and Light Truck Tire (PLT) Division said: ìThe acquisition of MTCL underlines our commitment to the Indian market. It is part of our strategy to invest into local production of both passenger car tires and truck tires in growing markets in Asia.î For the commercial vehicle tire business, for which Setzer will be responsible within Continental as of August 1st as well, the move is an important signal: ìIndiaís truck tire market is of outstanding relevance worldwide and exceeds with a size of 18 million tires per year already the Western and Central European market.î As well the PLT market shows substantial growth rates, both in replacement and original equipment business, where Continental has a strong position and long-standing expertise. ìThus, we are confident that our premium technology combined with the new local presence will make Continental a reliable and strategic partner both for the tire replacement business and original equipment manufacturers in Indiaî, Setzer said.

ìThe highly motivated employees in Modipuram, Partapur and Delhi are looking forward to contributing their profound knowhow of the Indian market as well as the company's local distribution structure to the success of the internationally renowned corporation of Continental in an increasingly competitive market environment,î Alok Modi, former CEO of MTCL, pointed out at the closing of the deal.

Continental Tyres India Ltd will have its registered office in Delhi with manufacturing facilities both in Modipuram and Partapur. Currently, an integration team works jointly with the new employees on achieving an optimal start for Continental Tyres India with the full set of resources now available from Continental. On August 24th, prior to the first town hall meeting with the entire team in Modipuram, Executive Board member Nikolai Setzer together with the Head of Continental India and the management of Continental Tyres India will invite to a press meet in Delhi to share more detailed information.

Source Company Press Release*

Value GBP 16m (approximate price)

Stake Value more than 30% inclusive

19/07/2011: Continental acquires Modi tyre business. Continental, the listed German car parts company, issued the following press release on 18 July:

05/08/11: Dufry buys emerging markets businesses for $957 mln

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