Reuters reached the information, which shows that the fund Mid Europa studying the possibility of the sale of the department store Żabka. The deal could bring the owner of one billion euros.
Private equity fund Mid Europa, that invests primarily in companies from Eastern Europe, exploring the possibility of the sale of the department store Żabka. This network operates in Poland under two brands: Frog and Freshmarket.
According to Reuters, Mid Europa is currently talking with banks about the sale of the stores or the introduction on the stock exchange. Agency received the information from sources close to the fund, but failed to get an official comment on the matter from Mid Europa.
Reuters Informants say that the potential value of the transaction may amount to one billion euros. In 2011, the fund acquired a network of Frog for 400 million euros. It was then one of the largest transactions in the commercial market in Poland.
Within weeks, Mid Europe should hire a consultant who will be finalizing the deal.
Network Frog was established in 1998. Poznan was founded by businessman Marius Świtalski, but in recent years has been in the hands of funds. First, in 2007, he bought the fund Penta Investments, then in 2011 took over the Mid Europe.
At the end of 2015. Zabka chain had 4,200 stores, and this year it planned to launch another 400-500 points.
Portal Commercial News reminds that in 2015 Żabka changes took place as President and Chief financial Officer. According to experts, it could have been the first mark to the effect that the network is prepared for sale.
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