Cornerstone and Crestyl completed the acquisition of Budimex Nieruchomości from Budimex for $388m.

Cornerstone Partners, a private equity firm, and Crestyl, a real-estate developer, completed the acquisition of Budimex Nieruchomości, a residential property developer from Budimex, a construction and engineering group, for $388m. "Together with Crestyl, we would like to establish the company as a significant player in the area of residential real estate sales and rentals in the CEE region. This acquisition is the first step towards achieving that goal," Paweł Dębowski, Cornerstone Partners Managing Partner.