Meinl Capital Advisors AG


1. Who We Are
2. Selected MCA Transactions
3. Key Personnel

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1. Who We Are

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Meinl Capital Advisors AG
Meinl Capital Advisors AG is the investment banking and corporate finance advisory arm of Meinl
Bank AG, Austria’s leading private merchant bank, with strong experience in privatization, financial
restructuring and investment projects in Central and Eastern Europe.
Meinl Capital Advisors AG assists Governments as financial advisor in privatizations and restructuring
of state-owned enterprises and assists corporate clients in identifying and implementing mergers and
acquisitions, preparing feasibility studies for new investments, and in raising funds through
international capital markets.
A principal area of the firm’s activity is energy (e.g. electric power sector) and infrastructure (e.g.
airports), as well as heavy industry (engineering, metallurgy), light industry, food and beverage
industry and the financial services sector.
The Meinl Capital Advisors AG and its management team have carried out numerous successful M&A
transactions and privatizations and restructurings in Central and Eastern Europe.
Meinl Capital Advisors AG has its headquarters in Vienna, with regional offices in Belgrade and
Skopje.

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Products and Services

M&A
M&A
M&A

Privatization
Privatization

M&A advisory mandates for International Companies in Central and
Eastern Europe

Privatisation advisory mandates for Governments

Direct
Direct
Investment
Investment

Investment of proprietary (Meinl Bank) funds in industrial projects in
Central and Eastern Europe

Donor
Donorand
andIFIIFIFinanced
Financed
Projects

Projects

Advisory assignments for Supra-national Organisations - Donor
Funded Projects

Corporate
Corporate
Restructuring
Restructuring

Corporate, financial and organizational restructuring of enterprises in
Central and Eastern Europe

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Advisory Services to Governments
Privatisation Advisory Services
- preparation and implementation of tenders, negotiated sales
of enterprises and auctions
- due diligence and valuation services
- closure and completion of transactions

Industrial Restructuring Services
- corporate reorganisation of industrial groups
- financial restructuring of companies
- organisational restructuring / social plans

Debt Restructuring Services
- forfaiting, factoring, trading of sovereign and corporate debt


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M&A Advisory Services
Market research
Target identification

- Establishing and arranging necessary contacts and connections
relationship management and lobbying

Information and data gathering
Structuring of transactions
-

Bidding strategy
Local legal and regulatory framework
Professional support in all stages of the transaction
Expertise in settlement and tax optimisation of the transaction
Arranging international project and acquisition financing (debt & equity)
Financial structuring

Support in negotiations and closing
Post-merger support
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2. Selected MCA Transactions

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Selected MCA Transactions to Date (1)

Year

Client

Transaction

2002-06

Republic of Macedonia

Restructuring of the Macedonian electricity industry and privatization of AD ESM, the electricity
distribution company. Privatization tender for electricity distribution company, AD ESM, was
completed in March 2006. EVN AG of Austria acquired 90% of AD ESM for € 225 million. This is the
first major restructuring/privatization in the ex-Yugoslav electricity sector.

2005-06

Republic of Slovakia

Privatization of Bratislava and Kosice Airports. Lead responsibility for the privatization through
international public tender, including all preparatory work, vendor’s due diligence and preparation of
tender documentation, development of privatization strategy, and planning and implementation of
transaction. Contracts for sale of 67% majority stakes in these airports to TwoOne Consortium
(Flughafen Wien AG, Penta Investments, RZB) were entered into in February 2006.

2002-06


Republic of Serbia

Privatization of Fabrika Vagona Kraljevo, leading Serbian railway wagon manufacturing company.

2002-06

Republic of Serbia

Restructuring and partial privatization of GOSA Smederevska Palanka , a leading Serbian heavy
engineering and manufacturing group.

2002-04

Republic of Serbia

Restructuring and liquidation of Samot Arandelovac, a Serbian manufacturer of refractory materials.

2002-03

Republic of Serbia

Privatization of Valjaonica Bakra Sevojno, the Serbian copper smelting and refining company.

2004

Travelink

Advice to investor in connection with acquisition of Hotel Split in Split, Croatia.


2002-04

Republic of Serbia

Privatization of Dzervin Vladicin Han, a Serbian producer of fruit juice and packager of fresh fruits.

2002-03

Republic of Serbia

Privatization of PIK Takovo, a leading Serbian food and beverage conglomerate, including 30
subsidiaries producing wide range of products.

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Selected MCA Transactions to Date (2)
Year

Client

Transaction

2002-03

Republic of Serbia

Privatization of Zitopek Nis, the municipal bakery and bread factory of City of Nis. This was the first
leveraged employee-buyout in Serbia under the reform government.


2002-03

Republic of Serbia

Advised on privatization of six socially-owned companies in the textile sector

2002

Accent Electronics

Divestiture of strategic stake in Moldcell, Moldovan GSM telecommunicaton operator.

2003 – 05

City of Eger

Waste management project for municipalities and settlements in Eger / Heves Region of Hungary.

2003

Julius Meinl International AG

Advised JMI on acquisition of “Cremcaffe” coffee roasting company in Italy and Slovenia.

2003

Carlsberg Breweries a/s

Advised Carlsberg a/s on successful acquisition of Pirinsko Pivo a/s, which together with Shumensko
Pivo (see below) represented 20% share of the Bulgarian beer market.


2002

Carlsberg Breweries a/s

Advised Carlsberg a/s on successful acquisition of Shumensko Pivo a/s, which together with Pirinsko
Pivo (see above), represented 20% share of the Bulgarian beer market.

2001

Merz Group

Advised on planning and financing of hotel development project in Fuerteventura, Canary Islands,
Spain

2001

Russian-Austrian investor group

Advised investors in acquisition through liquidation of Zeljezara Sisak, the Croatian steel company
(pipe producer).

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3. Key Personnel

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Key Personnel (1)

Peter E. Gumpel
Chairman of the Management Board, Meinl Capital Advisors AG
Mr. Peter Gumpel has carried out numerous privatization projects for governments in Central and Eastern
Europe, including Bulgaria, Hungary, Macedonia, Montenegro, Russian Federation, Serbia, Slovakia and
Ukraine, as well as M&A projects for foreign investors in this Southeast Europe and the ex-Soviet Union.
Before joining the Meinl Bank Group in 2001, Mr. Gumpel was member of the management board of
Raiffeisen Investment AG.
Ferenc Berecz
Member of the Management Board, Meinl Capital Advisors AG
Mr. Berecz is a senior investment banker with many years’ experience in the electricity and oil and gas
sectors of Czech Republic, Hungary, Poland and South-East Europe. Before joining Meinl Capital Advisors
AG as Director in 2004, Mr. Berecz has worked for 10 years with Commerzbank, Frankfurt as well as with
NM Rothschild in London.

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Key Personnel (2)
Rolf Theuer
Director, Meinl Capital Advisors AG, Vienna
Mr. Rolf Theuer joined Meinl Capital Advisors AG in April 2007. His responsibilities include the management
of investments in various industries such as F&B, consumer goods and infrastructure. Prior to that,
Mr. Theuer was the CEO of Raiffeisen CEE Private Equity Fund, acted as managing director of Raiffeisen
Ost-Invest, Chief Analyst at Raiffeisen Investment AG and Senior Manager of the Capital Markets Group,
Raiffeisen Zentralbank.
Elena Kirtcheva
Senior Advisor, Meinl Capital Advisors AG, Vienna
Ms. Kirtcheva, the former Bulgarian Ambassador to Austria, Switzerland and Finland and General Secretary

of the Vienna Economic Forum, has many years’ experience in CEE investment banking and in diplomacy.
She is active in new business origination for MCA in Southeast Europe and ex-Yugoslavia.
Zlatko Cerepnalkoski
Representative, Meinl Capital Advisors AG, Skopje
Mr. Cerepnalkoski is an experienced energy sector specialist. He is the local team leader of the Meinl Bank
Consortium responsible for the restructuring and privatization of the Macedonian electricity sector. He has
many years´ experience in the CEE energy sector.
Gorica Obucina
Representative, Meinl Capital Advisors, Belgrade
Ms. Obucina is responsible for the activities of our firm in Serbia, Montenegro and Bosnia and Hercegovina.
She has implemented various important transactions in the region including the restructuring of GOSA
Smederevska Palanka and the privatization of Fabrika Vagona Kraljevo and other key companies.
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Our Value Added

Enhance value for
Investor as
Shareholder

Committed team with
mixture of relevant industry
and Merger & Acquisition
experience

Experience in valuation
methods for relevant
industries


INVESTOR
Proven track record of
successful transactions
in the region

International team

Pragmatic and results
oriented team

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Meinl Capital Advisors AG
Johannesgasse 20, A-1010 Wien
www.meinlbank.com
+43 1 531 88 750

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