Blackstone to acquire Greek e-commerce platform Skroutz from CVC
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FILE PHOTO: Signage is seen at the Blackstone Group headquarters in New York City, U.S., January 18, 2023. REUTERS/Jeenah Moon/File Photo
May 11 (Reuters) - Blackstone will acquire Greek e-commerce platform Skroutz from CVC Capital Partners Fund VII, CVC said on Monday.
The deal values the Greek company, including debt, at about 635 million euros ($747 million), a person familiar with the matter told Reuters.
The transaction will see CVC doubling its initial investment in the e-commerce platform, the person added.
Skroutz's founders are set to divest a portion of their shareholding but will retain a stake and continue to lead the business with George Chatzigeorgiou remaining as the CEO.
Skroutz is one of several investments CVC has made in Greece. Last year, the asset manager sold a majority stake in Greek insurer Ethniki Insurance to Piraeus Financial Holdings, one of the country's largest banks, for 600 million euros.
($1 = 0.8498 euros)
(Reporting by Ananya Palyekar in Bengaluru and Mateusz Rabiega in Gdansk; Editing by Mrigank Dhaniwala and Sonia Cheema)
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