Blackstone to acquire Greek e-commerce platform Skroutz from CVC

Blackstone will get Greek e-commerce level ‌Skroutz from CVC Capital Partners Fund VII, CVC has said.

The woody values the Greek company, including debt, astatine astir €635 million, a idiosyncratic ⁠familiar with the substance told Reuters.

The transaction will spot CVC doubling its archetypal concern successful the e-commerce platform, the idiosyncratic added.

Skroutz’s founders are acceptable to divest a information of their shareholding but will clasp a stake and proceed ‌to ⁠lead the concern with George Chatzigeorgiou remaining arsenic the CEO.

Skroutz is 1 of respective investments CVC has made successful Greece. Last ⁠year, the plus manager sold a bulk stake successful Greek insurer Ethniki Insurance to Piraeus Financial ⁠Holdings, 1 of the country’s largest banks, for €600 million. [Reuters]