Tuffieh Funds acquires 100% of CS Cargo

Tuffieh Funds and CS Cargo Group announce their agreement on the sale of 100% of the shares.

PRAGUE (24 November 2011) – Tuffieh Funds SICAV plc (TFS) and CS Cargo Group N.V. announce their agreement on the sale of 100% of the shares in logistics group CS Cargo Holding N.V. The transaction was closed on 18 November 2011 in Amsterdam. Both parties have agreed not to disclose the price or any other conditions of the transaction.

TFS purchased the 100% shareholding in CS Cargo through CS Cargo Group N.V. from Messrs Marek Lehečka and Petr Zvěřinský. Their equity and legal holdings in CS Cargo terminated with the conclusion of the transaction. Following the transaction TFS is not only the sole shareholder, but also the largest creditor of the CS Cargo group. “Marek Lehečka and Petr Zvěřinský were the masterminds behind the transformation of a local transporter into a leading logistics business extending far beyond the borders of the Czech Republic. I wish to express my gratitude for all that they have accomplished for CS Cargo group,” Jan Blaško, founding partner of TFS and new chairman of the Board of Directors of CS Cargo, a. s., commented on the deal.

“We are confident that, in the hands of the new owners, CS Cargo is set for a period of further expansion and we sincerely wish the whole group and its shareholders much success,” Marek Lehečka commented on behalf of the sellers.

CS Cargo management is presently implementing a management team adjustment, to be completed at the turn of 2012.