EBRD RUSSIA
July 1st, 2005
BY KEITH NUTHALLTHE MANAGER of several European Bank for Reconstruction and Development (EBRD)-sponsored private equity funds in Russia and Kazakhstan has sold its remaining 6.4% shareholding in Russian cosmetics company Kalina. Eagle Venture Partners has sold its shares to major international funds, having invested in the company in November 2000, being advised by Renaissance Capital over the deal. Eagle and the EBRD generally withdraw from eastern European companies after they are sure they can prosper unaided. Said the fund manager: "We consider that now the ...
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