• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deal search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
      • Deals search
      • Exits search
      • Funds search
      • Sponsors search
      • Advisers search
      • LPs search
      • League tables
      • Reports
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
UNQUOTE
  • CEE

Innova Capital sells Meritum Bank to Alior Bank

  • Mikkel Stern-Peltz
  • Mikkel Stern-Peltz
  • 23 October 2014
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

Innova Capital and European Bank for Reconstruction and Development (EBRD) have sold 98% of Polish Bank Meritum to Alior Bank for PLN 353m.

Half of the purchase price will be paid in cash, while the other half will be paid in new shares issued by Alior Bank. Innova and Wolfensohn Capital Partners (WCP) will take home around half of the deal value, PLN 173m, to be paid out in shares, while EBRD will cash out.

WCP's investment in Meritum was made through its WCP Cooperatief vehicle, which took a 24.1% stake in the bank, while Innova's 49.9% of the shares were held in the Innova Financial Holding Fund. EBRD's ownership stood at 23.9% before the sale.

The deal is in line with a broad move toward consolidation in the Polish banking industry, where a number of larger banks are predicted to target smaller banks.

The deal is subject to shareholder approval.

Previous funding
Innova and WCP backed Meritum in 2007. Innova committed a further €6m in funding when EBRD first invested in Meritum in December 2010 through a €14m investment.

Company
Meritum is a Polish bank based in Gdansk, focusing on services to individual customers, as well as small businesses with revenues of up to PLN 10m a year.

People
Krzysztof Kulig is a managing partner at Innova, while Wojciech Sobieraj is CEO of Alior Bank.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • CEE
  • Exits
  • Financials
  • Poland
  • Innova Capital
  • EBRD

More on CEE

VC Profile: Kogito Ventures in the market with new early-stage fund, targets EUR 40m
VC Profile: Kogito Ventures in the market with new early-stage fund, targets EUR 40m

Lux-registered UPWIND VC has already secured EUR 10m in commitments; Polish GP aims to kick of deployment in 2024

  • CEE
  • 17 August 2023
Innova exits Trimo for 4.5x money
Innova exits Trimo for 4.5x money

Deal values the Slovenian buildings supplier at 9.5x 2021 EBITDA; GP's 2020 exit attempt collapsed after lengthy competition process

  • CEE
  • 22 March 2022
Abris buys dentistry supplier Dentstore
Abris buys dentistry supplier Dentstore

Dentstore is Abris's third acquisition in the dental supplies sector, after Dentotal and Dentechnica

  • CEE
  • 26 January 2022
TEP Capital to build portfolio of six Polish investments
TEP Capital to build portfolio of six Polish investments

Poland-based TEP Capital was set up a year ago and is funded by German conglomerate Thomas Gruppe

  • CEE
  • 02 February 2021

Latest News

Partners Group to release IMs for Civica sale in mid-September
  • Exits
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
BHM Group builds on PE strategy, eyes European medtech and renewable energy acquisitions
  • Investments
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Czech Republic-headquartered family office is targeting DACH and CEE region deals

  • 01 September 2023
Redalpine expands leadership team amid CHF 1bn-plus fundraise
  • Venture
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Ex-Rocket Internet leader Bettina Curtze joins Swiss VC firm as partner and CFO

  • 31 August 2023
Change Ventures aims to hold final close for EUR 20m third fund by mid-2024
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Estonia-registered VC could bolster LP base with fresh capital from funds-of-funds or pension funds

  • 31 August 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013