Innova creates GWP for PLN 375m

The Polish private equity house bought WP through its acquisition vehicle European Media Holding from Polish Orange subsidiary Telekomunikacja Polska.

Innova will merge WP with Grupa o2, a Polish internet publisher, with both businesses now operating under the name Grupa Wirtualna Polska (GWP). GWP will be on the lookout for add-on acquisitions in the near future, the GP said.

Innova financed the acquisiton via its Innova/5 LP fund, which held its final close on €302.09m in 2009. A debt package for the transaction was also provided.

Company
Wirtualna Polska is an internet portal, operating as an information, communication and advertising platform in Poland. The firm has more than 3 million users every month.

WP was founded in 1995 and is based in Warsaw.

People
Krzysztof Krawczyk is managing partner of Innova. Jacek Świderski sits on Grupa o2's management board. Grzegorz Tomasiak is the CEO of Wirtualna Polska. Bruno Duthoit is president of the board and CEO of Orange Polska.

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• Topics
• CEE
• Buyouts
• Media
• Poland
• Innova Capital