Do SISU need to raise funds? (1 Viewer)

[dongonzalos]

Netia Reportedly Hired Morgan Stanley For Sale

Netia Spolka Akcyjna is reportedly looking for an owner change as it has hired Morgan Stanley to help work out development strategy, and to find a sector or financial investor. Third Avenue Management, LLC is looking to sell its 18.86% stake while Sisu Capital Limited will sell 14.69% stake. The other shareholders which may sell stake include ING Groep NV with 25% stake, Aviva plc with 9.86% stake and OFE PZU Zlota Jesien along with Litman Gregory Fund Advisors LLC, holding around 5% each. Polish News Bulletin reported that neither Netia nor the private equity funds wanted to comment on the news.

 

---

[dongonzalos]

Other reports suggest....

Sisu Capital Limited have hired Morgan Stanley to sound out interest from potential buyers for Netia. A person familiar with the matter said that a decision to buy either Netia or GTS Central could depend on the outcome of strategy review for Eastern Europe. Netia and GTS Central Europe didn't respond to a request for comment.

 

[dongonzalos]

Looking for co investment when Mr Fisher was brought in

KP. This is a short-term appointment for you as interim MD, what are your priorities?
TF. I’ve got to continue to source co-investment, provide the interim leadership for the business while I lead the recruitment process for what will be a locally based managing director.

KP. Can I just pick you up on co-investment. You are looking for a partner?
TF. Co-investment is exactly that. Sisu are not looking for an exit. They are in this for the long term.

 

[Skybluepiglet]

SISU are only in it for the long term because at this moment in time they can't EXIT.

And I don't think they even have the slightest clue as to where they are heading.

 

[Astute]

And I don't think they even have the slightest clue as to where they are heading.

Yes they do.
Let's just say that they are looking for a paddle as they need one urgently.

 

[sky blue john]

So is this the fund that controls Otium ccfc ?

 

[thaiskyblue]

So is this the fund that controls Otium ccfc ?

not another one.

 

[chiefdave]

unless this is the same story coming up they were looking to sell something else off recently. what wasn't made clear by Joy when she talks about funding is if they're now having to use their own money rather than investors. there must be a rule that hedge funds can't just sink investors money into things that clearly won't give them a return no matter how high risk the fund is rated.