Funds advised by Cinven, Permira and Mid Europa complete acquisition of Allegro for $3.253 billion

Funds advised by Cinven, Permira and Mid Europa have today completed the acquisition of the Allegro Group (‘Allegro ‘or ‘the Group’), the largest online marketplace and non-food shopping destination in Poland, from Naspers Limited (JSE: NPN.SJ and LSE: NPSN) for US$3.253 billion.

Cinven, Permira and Mid Europa identified Allegro as an attractive investment opportunity based on the strong structural growth in the Polish e-commerce market and Allegro’s position as a market leading e-commerce platform. In addition, the Group has a solid business model benefitting from strong network effects and low capital intensity, as well as several attractive value levers to further improve user experience.

This deal represents the largest 100% cash M&A deal in e-Commerce globally ever and the largest CEE private equity M&A deal in the last 3 years.

About Allegro

We exist since 1999, when Dutch entrepreneur Arjan Bakker founded the auction site Allegro. It is assumed that then began to Polish e-commerce. From the beginning, guided us to the same goal – the joy of buying and selling online. Although we started as an auction site, today more than 85 percent of the purchased items to new things and sold at the agreed fixed price. Every day at Allegro sells more than 870,000 items.

 

Source: Mid Europa Press Release

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