Innova Capital Acquires Wirtualna Polska for PLN375 Million (CEE and CIS)

Source: Innova Capital,

Central Europe-focused mid-market private equity firm Innova Capital, through its special purpose vehicle European Media Holding, will finance the acquisition of Poland-based internet portal Wirtualna Polska from Polish Orange subsidiary Telekomunikacja Polska. The transaction, which was reportedly structured through Innova/5, is valued at PLN375 million (approximately US$123.2 million). As part of the deal, Wirtualna Polska will merge with Poland-based internet group Grupa o2, marking the foundation of media group Grupa Wirtualna Polska. The acquisition of Wirtualna Polska is conditional on obtaining the consent of the Office of Competition and Consumer Protection.