Syntaxis buys Polish insurance broker stake

Central European investment fund Syntaxis Capital has bought a stake in Polish automotive insurance broker BIK Brokers, Przemek Szczepański, a partner at the fund, told Reuters. No financial details of the deal were disclosed. However, Syntaxis usually invests about €10 million into its portfolio firms. Syntaxis will keep the stake for at least three years. “In a three year perspective we don't assume an IPO, but afterwards we will be open for various options, including an IPO or strategic investor,” Szczepański was quoted as saying. /kw/jb