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/ International investors strengthen the position of job portal CV Keskus in the Baltics

Raivo Hein, Management Board member of CV Keskus, comments: “In years the two-man-company has developed into a big enterprise. This also means additional commitments to clients and shareholders. CV Keskus is very glad to welcome the joining of new shareholders. New investors bring to the company both their fresh vision and international experience.“

CV Keskus Supervisory Board member Allan Martinson adds: “The sale of CV Keskus is one of the biggest and noteworthy deals in the Baltic internet industry since Delfi was acquired by Eesti Ekspress Group. It proves yet again that internet is changing entire areas of life and clever web-entrepreneurs can take considerable profits from these trends. New investors of CV Keskuse are one the most well-known and professional investment firms in Eastern Europe. The new partners will strongly contribute to CV Keskus expansion plans.”

Established in 2000 by Raivo Hein, CV Keskus is now a successful internet company that is part of an international concern CV Market Group. The group is represented in Latvia, Lithuania, Czech Republic, Slovakia, Hungary, the Netherlands and Poland. 

The largest and most well known job portal of Digital Sky Technologies Limited, Tiger Global Private Investment Partners IV and Bexley Investments Limited is Headhunter (www.hh.ru), which is active in Russia, Kazakhstan and Ukraine. The companies have also stakes in different real estate, car and auction portals in almost all countries in Europe.  

The investment group acquires 75% of CV Keskus in two parts in the course of the next three months. For the remaining 25% of the shares an option contract effective on 1 January 2010 has been signed. Total value of the transaction is up to EUR 8.9 mln.   The investment has been made through Estonian company Starfox Agents OÜ. For 2007, the management estimates EUR 1.9 mln turnover for CV Keskus group and net profit of ca EUR 0.4 mln.

The owners of CV Keskus are investment companies OÜ Kakssada Kakskümmend Volti and OÜ Justkull that belong to Raivo Hein and Erko Kundla. Together with GILD Bankers, the same companies also own Moonfish Media OÜ, the second largest internet company in Estonia. Moonfish Media operates popular web portals osta.ee, kv.ee, hydra.ee and it also owns the largest web classifieds portal skelbiu.lt and real estate portals edomus.lt and aruodas.lt in Lithuania. The company also has minority stake in the company managing nagi.ee and fotoalbum.ee.

GILD Bankers is the leading independent Baltic investment bank with offices in Tallinn, Riga, Vilnius, Kiev, Sofia and London. GILD Bankers Group has around 80 employees.  Since 1999 GILD Corporate Finance team has advised and successfully completed more than 120 transactions with a combined value exceeding EUR 2.8 billion. In 2007 Corporate Finance team has been involved in 17 advisory projects in the total value of over EUR 380 million. GILD Investment Management team currently manages alternative investments through two hedge funds and one real estate fund exceeding the amount of EUR 120 million. GILD funds have provided consistent 15-30% annual returns for fund investors. GILD Private Banking unit offers flexible, personalized private banking services. GILD`s "total assets" private banking concept incorporates private wealth management, alternative investments, corporate finance and a variety of legal/tax advisory services.

Further information:
Raivo Hein
CV Keskus
Management Board member
Tel: + 372 5020039E-post: raivo.hein(at)cvkeskus.ee

Tarmo Jüristo
GILD Bankers partner
Tel: + 372 56800419
E-post: tarmo.juristo(at)gildbankers.com

Kadri Kütt
GILD Bankers Relationship Manager
Tel: + 372 56800467
E-post: kadri.kytt(at)gildbankers.com

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