Tags: investment | slovakia | czech

Penta Investment Likely to Sell Fortuna on Market, People Say

Sunday, 26 Sep 2010 05:37 PM

Penta Investments, a Czech and Slovak investment company, is nearing a decision to sell shares in its betting chain Fortuna, two people with the knowledge of the transaction said.

The investment firm will probably reveal its plans for the sale in coming days, said the people, who declined to be identified because they are not authorized to discuss the plans. A minority stake as an initial public offering may be sold to investors on the Prague and Warsaw exchanges, although they declined to comment on the precise timing of a sale.

Penta Investment Director Jozef Janov declined to comment on the investment company’s plans. Fortuna officials have repeatedly declined comment on all plans relating to the sale by their owners.

Founded in 1994 as a stock brokerage, Penta moved into private equity investments in 2000. It controls about 30 companies, including retail chain Zabka Polska SA and Aero Vodochody, a Czech aircraft producer. Penta has 2.7 billion euros ($3.63 billion) of total assets, according to its website.

Fortuna Entertainment Group is active in the Czech Republic, Poland, Hungary and Slovakia and has been expanding beyond outlets into internet gaming and owner-owned franchises. It reported consolidated sales of 2.2 billion euros last year.

Penta officials had been mulling different possibilities over the past months, including selling a stake to a strategic investor.

Fortuna, which was started in 1991 after the end of Communism in 1989, and a Slovak unit were sold to Penta in 2005 and later combined with a Polish gaming company.


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Penta Investments, a Czech and Slovak investment company, is nearing a decision to sell shares in its betting chain Fortuna, two people with the knowledge of the transaction said.The investment firm will probably reveal its plans for the sale in coming days, said the...
investment,slovakia,czech
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2010-37-26
Sunday, 26 Sep 2010 05:37 PM
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