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Abris signs contracts for acquisition of majority stake in AAA AUTO Group for € 220 million

The transaction was already approved by the Czech Antimonopoly office.

Abris Capital Partners, the leading CEE-focused private equity group, signed the contract for purchase of the AAA AUTO Group majority stake. Assuming positive decision of the anti-monopoly authorities, Abris will take over ca. 95% of the Group. The value of the transaction is € 220 million. Abris is a leading independent private equity fund manager, focused on mid-market opportunities in the major countries of Central and Eastern Europe.

“Today, the 2-year process for the sale of a majority stake in AAA AUTO Group has been formally confirmed. I am glad the Group now has a strong international financial investor," said Karolína Topolová, CEO of AAA AUTO.
The transaction was already approved by the Czech Antimonopoly Office (ÚOHS) and also has now to be approved by anti-monopoly bodies in three additional countries – Slovakia, Russia and Ukraine. Decisions are expected within a few weeks.

“The new majority owner will then take over the Group´s business. We do not expect any personnel or business model changes. The new investor has asked Mr Anthony Denny to retain a role as strategic advisor for the company’s senior management,” added Topolová.

AAA AUTO founder, Anthony James Denny, who has divested his entire holding of 81.4% in AAA AUTO Group, said: “Abris private equity have acquired a high-quality and highly profitable asset with a proven track record in Central and Eastern Europe, and with high potential for further profit growth through regional expansion.”

Commenting on the transaction, Paweł Gieryński, Partner and Chief Investment Officer at Abris, stated that “From the very first meeting, I had been impressed by the professionalism of the entire management team of AAA Auto. This is by far the largest, most modern and very innovative franchise of used cars and with our support we would like it to become a dominant player across all Central and Eastern Europe.”

“The Management Team of AAA Auto has already proven its skills in international expansion. We want to continue that strategy and enter the Polish and Romanian markets, where AAA AUTO should expand in 2015 and 2016/2017 respectively,” said Wojciech Łukawski, a Partner at Abris.
To date, Abris has made investments in: Masterlease - leader of car fleet management in Poland; Etos - apparel retailer, the owner of Diverse brand; Uskom - waste management and utilization company; Cargus - a leading courier company in Romania, among others.

Abris is committed to acquire 100% ownership of the AAA Group. Any minority shareholder of AAA Auto Group interested in offering its shares to Abris Capital Partners is invited to contact AAA - Ms. Lenka Zajickova (lenka.zajickova@aaaauto.cz) - up to and until 31.12.2014.