Acquisition of Z. Bavelloni Immobiliare S.P.A. (IT) and Glasto Holding B.V. (NL) by Kyro Group (FI) — EUR 66 plus 10 million

Carnegie acted as adviser to Kyro Group in the acquisition of Z. Bavelloni Immobiliare S.P.A and Glasto Holding B.V. Z. Bavelloni is a manufacturer of pre-processing equipment for the glass and stone industries and Glasto Holding B.V. is a holding company for an international group of sales and service companies serving the glass and stone industries with Bavelloni machines and tools as main products.January, 2003.