La banque d'un monde qui change 2004 - BNP Paribas

78bnp paribas capital79Transactions inthe proprietary portfolioDuring 2004, BNP Paribas Capital sold its entireinterests in Diana, Keolis and Atos, and partlydisposed of its interests in Cobepa, Eiffageand other companies. These transactionsraised EUR 1.2 billion in cash for the Group.BNP Paribas Capital contributed, proportionallyto its equity stake, to Carbone Lorraine’sshare capital increase, in line with its policyof developing this investment.Investment in private equity fundsPAI Europe III, launched in 2001, to whichBNP Paribas contributed EUR 250 million, hasnow invested or committed 80% of its capital.In 2004 the fund acquired Saeco, Italy’s leadingmanufacturer of automatic espresso-makersand Vivarte, the no.1 French distributor ofshoes and apparel. BNP Paribas made a directinvestment of EUR 75 million in Vivarte, alongsidePAI Europe III. PAI Europe III also announcedthe acquisition of Saur, the 3rd-largest Frenchprovider of water treatment, water distributionand waste management services.In addition, PAI Europe III disposed of its entireinvestment in Antargaz and announced that itwould be selling its interest in Mivisa, a Spanishmanufacturing company that produces aluminiumpackaging for the food industry.PAI LBO Fund also sold its interest in Homann,the German market leader in chilled preparedsalads, and part of its interests in Ipsenand Carreman.BNP Paribas, which is the sponsor and investorof these two funds, shared in the distributionof the profits earned on these transactions.Middle Market Fund II, a EUR 125 million fundlaunched in 2000 and managed by Banexi CapitalPartenaires, is now 86%-invested. Banexi CapitalPartenaires is finalising the investment poolfor MMF III, the successor fund of whichBNP Paribas is the sponsor.