Investment group Tuffieh Funds to enter CS Cargo

The Trifid financial group announces that it has struck an agreement with Tuffieh Private Equity Fund.

The Trifid financial group announces that it has struck an agreement with Tuffieh Private Equity Fund on the conditions for a sale of a majority stake in CS Cargo Group. According to the outcome of the negotiations, the current owners of CS Cargo, private investors Marek Lehečka and Petr Zvěřinský, will retain a 15 percent stake in the company.

“Following the rapid growth of CS Cargo in the 2005 to 2008 period, and the subsequent heavy blow taken by the whole logistics sector in the crisis years of 2009 and 2010, it is now necessary to kickstart the growth of our whole logistics group again. The entry of a strong partner with a sound capital base could be just such an impulse for CS Cargo,” said Petr Zvěřinský, commenting on the sale of the stake. “We are confident that CS Cargo will continue to successfully implement its strategy of building a strong position that offers a comprehensive portfolio of logistics services on the markets of Central and Eastern Europe, a strategy introduced back in 2004 upon the entry of Trifid into the company,” added Marek Lehečka.

Both parties have agreed that the price and conditions of the transaction will not be disclosed. If the sale contract is closed, the sale of the shares will be subject to the approval of the financing ban.