China-backed fund says earmarks $0.5 bln for Eastern Europe
WARSAW, July 10
WARSAW, July 10 (Reuters) - CEE Equity Partners, an investment advisor for the China-CEE Fund set up by Export-Import Bank of China, has $500 million to spend in central and eastern Europe in the next 2-3 years, it said on Thursday.
According to CEE Equity Partners' investment director Rafal Andrzejewski, half of the sum may be spent in Poland.
"We are interested mostly in companies from the energy, telecoms, infrastructure, and specialised industry sectors," he told a news conference in Warsaw.
The Export-Import Bank of China established the China-CEE Fund in partnership with state-backed financial institutions from eastern and central Europe to capitalise on investment opportunities in the region.
"We want our investments to be long-term ones, even for nine years," Andrzejewski said. "We aim for a return rate of 18-20 percent."
"When we invest 60 percent of our funds, we'll get another tranche of financing. It will probably be $1.5 billion."
The fund will spend between $20 million and $75 million on each investment, with possible debt leverage. Andrzejewski added it planned to buy a minority stake in an unnamed Warsaw-listed firm in the coming weeks as its first investment. (Reporting by Anna Koper; Writing by Adrian Krajewski; Editing by Christian Lowe)
- U.S., backed by Arabs, launches first strikes on fighters in Syria |
- Qatar adamant it will host 2022 World Cup despite doubts
- Argentina's Fernandez to meet billionaire investor Soros in New York
- Ebola could strike 20,000 in six weeks, 'rumble on for years': study
- Euro data hits stocks, China reading soothes commodities