Central and East European investor Innova Capital has sold its remaining stake in Polish banking card company Polcard in a EUR 243m sale to First Data International, an e-commerce provider. Innova held a 25.24% stake in the company, strategic co-investor GTECH selling its 74.43% stake. The sale, which saw five companies in the final round of bidding, was done on a debt-free, cash-free basis and sees the Polish Bank Association retain a 0.3% stake.
Sponsor remains on the road for its eighth flagship fund amid turmoil at CEO-level, with fundraising lagging behind peers KKR and EQT
Sponsor has held a EUR 150m first close for its latest fund and will back Central European businesses with flexible capital
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