Private equity fund Innova Capital, which financed the takeover of web portal Wirtualna Polska by Grupa o2, wants the companies to merge into Grupa Wirtualna Polska and then debut on the Warsaw Stock Exchange in about three years’ time, the fund’s managing partner Krzysztof Krawczyk told ISBnews.
Courtesy of Wirtualna Polska
Innova Capital plans to retain 70 percent of Grupa Wirtualna Polska stock with the remaining 30 percent going to the creators of Grupa o2.
Mr Krawczyk added that his fund plans to withdraw from the internet group soon after the listing. “We usually keep the shares in our listed companies for a year or two after their IPO, so I expect that our investment in Wirtualna Polska will last about five years.”
The new owner believes that video services will become the most important feature of web portals within the next five years and plans heavy investments in that sector. Jacek Świderski from Grupa o2 added that the e-mail segment and themed portals will also be an important part of the new service.
Innova also plans to set aside E100 million for investments in the newly created Grupa Wirtualna Polska. This amount will be spent both on organic growth and on acquisitions.
Innova analyzed the internet market while preparing for the Wirtualna Polska – Grupa o2 deal, Mr Krawczyk said. “Conclusions are positive, but it is still too early to talk about concrete entities. We have identified a number of companies, but they are from niche and specialized markets,” he said.
From Warsaw Business Journal
o2 acquires biggest Polish IT portal
Wirtualna Polska sold to o2 for zł.375 mln
New Wirtualna Polska portal owner mulls IPO
TP sells Wirtualna Polska for zł.375 million
Will cabinet reshuffle save PO?
BY Remi Adekoya
What’s next for Jarosław Gowin?
BY Remi Adekoya