De Agostini

Financials - Other companies

FINANCIAL INVESTMENTS – DeA Capital



At December 31, 2009 the DeA Capital S.p.A. Group had consolidated net equity of approximately € 780.2 million, corresponding to a Net Asset Value (“NAV”)of € 2.65 per share, and an investment portfolio of € 828.4 million.

The investment portfolio, which comprised direct investments of € 550.9 million at December 31, 2008, fund investments of € 118.2 million and other net assets linked to alternative asset management (being the investment in IDeA Alternative Investments and in FARE Holding) totaling € 159.3 million, is broken down as follows:

PRIVATE EQUITY INVESTMENT

Direct investments

  • Strategically important shareholding in Générale de Santé (GDS), the leading private sector health care group in France, listed on the Eurolist segment of the Paris stock exchange (held via the Luxembourg registered company, Santé S.A., a DeA Capital Group associated company) with less than 10% of shares outstanding and small trading volumes;
  • Strategically important shareholding in the Sigla Group, operating in the consumer credit sector (personal loans and salary-backed loans) in Italy;
  • Shareholding in Migros Turk, the largest chain operating in the organized food distribution market in Turkey, listed on the Istanbul stock exchange (held via the Luxembourg registered company, Kenan Investments, a company in which DeA Capital Group holds a minority interest) with less than 5% of shares outstanding and small trading volumes;
  • An indirect interest in Blue Skye,, ca special opportunities investment company in the distressed asset and credit sector, with special reference to public sector credit (mostly healthcare related), non-performing loans, midmarket real estate, and corporate lending (investment held through the Luxemburg company Stepstone Acquisition S.à.r.l., an associated company of the DeA Capital Group);
  • Minority interests in three US companies, operating in Biotech (Elixir Pharmaceuticals Inc.), Information & Communication Technology (MobileAccess Networks Inc.) and Printed Circuitry (Kovio Inc.).

Funds

  • Shares in one co-investment fund, IDeA Co-Investment Fund I (IDeA CoIF I);
  • Shares in one fund of funds, IDeA I Fund of Funds (IDeA I FoF);
  • Shares in eight venture capital funds.

 

ALTERNATIVE ASSET MANAGEMENT

  • Joint controlling shareholding in IDeA Alternative Investments,, joint venture with Investitori Associati, Wise and other primary investors, which operates as a holding company for independent asset management companies (“SGR”).
  • Controlling shareholding in First Atlantic Real Estate Holding, one of the largest operators in the Italian real estate sector, which controls a group of companies operating in the following sectors:
    - Fund management (via First Atlantic Real Estate SGR);
    - project, property & facility management,and agency services (via First Atlantic Real Estate).