Blackstone will acquire Greek e-commerce platform Skroutz from CVC Capital Partners Fund VII, CVC has said.
The deal values the Greek company, including debt, at about €635 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. [Reuters]