WARSAW May 31 Private equity fund Enterprise
Investors may sell Polish energy-efficient housebuilder Danwood,
three sources familiar with the matter said on Wednesday.
Enterprise Investors, one the biggest buyout firms in
Central and Eastern Europe, bought Danwood in 2013 from Polish
construction firm Budimex for around 240 million
zlotys ($65 million).
"Enterprise Investors plans to sell Danwood to an investor
or list it on the bourse," a person familiar with the situation
Two other sources confirmed the plan and added it was more
probable the fund would sell Danwood to an investor rather than
list it on the bourse.
Enterprise Investors declined to comment.
Despite some uncertainty over the policies of the ruling
conservative Law and Justice party (PiS), Poland has seen a
number of sizable M&A transactions in the past few months
involving private equity funds.
Those include the sale of e-commerce business Allegro in
October and retail chain Zabka in February.
Also, the Warsaw Stock Exchange has attracted new
companies with significant share offers, something not seen in
Poland in recent years. Enterprise Investors, for example, sold
its 49-percent stake in retain chain Dino in an initial public
offering in April.
Danwood's net profit rose to almost 34 million zlotys last
year from 25.6 million in 2015 on sales of 665 million zlotys in
2016 and 518 million in 2015.
The company, which was set up 20 years ago and employs 1,550
workers, has the capacity to build 1,000 energy-efficient houses
($1 = 3.7199 zlotys)
(Writing by Agnieszka Barteczko; Editing by Mark Potter)