PineBridge Investments to Invest EUR26 Million in Work Service (CEE and CIS)

Source: PineBridge Investments

Global multi-asset class investment manager PineBridge Investments has signed an agreement to acquire a 20.02 percent stake in Polish temporary staffing and personnel outsourcing company Work Service for EUR26 million (approximately US$34.6 million). Work Service is listed on the Warsaw Stock Exchange and operates in Russia, the Czech Republic, Slovakia, Germany and Turkey. PineBridge invested through its EUR522 million (approximately US$695 million) New Europe Partners II private equity fund.