Wolfensohn Capital Partners, Innova Capital and EBRD to Exit Meritum Bank (CEE and CIS)
Source: Innova Capital
Emerging markets-focused private equity firm Wolfensohn Capital Partners (WCP), mid-market private equity firm Innova Capital and development finance institution European Bank for Reconstruction and Development (EBRD) have agreed to sell a 97.9 percent stake in Poland-based retail bank Meritum Bank to Poland-based retail and corporate banking institution Alior Bank for PLN353 million (approximately US$107 million). About half of the purchase price, or PLN173 million (approximately US$52 million), will be paid to Innova and WCP in the form of new shares issued by Alior Bank. Innova and WCP originally invested in the company in 2007.