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WP Holding SAWP Holding completes acquisition of 100 pct stake in Invia Group for EUR 242.8 mln total
Listed online media group Wirtualna Polska Holding has completed the acquisition of 100 percent of the shares in in the European leader in online travel Invia Group, the company said in a market filing. The purchase price of the Invia shares and the amount of debt repaid on the closing date of the transaction totalled EUR 242.8 million.
As a result of completing the transaction, WP Holding has acquired 10 shares representing 100 percent of Invia's share capital, paid the share price of EUR 190.3 million, and repaid all loans granted to Invia by EBT in the amount of EUR 52.5 million.
On April 7, Wirtualna Polska Holding has announced obtaining an approval of Chinese regulator, Shanghai United Assets and Equity Exchange, to acquire 100 percent stake in Invia Group from People's Republic of China.
The takeover was previously approved by Poland's antitrust and consumer protection regulator UOKiK.
Earlier, WP Holding had reported that as part of the transaction, Wirtualna Polska was to acquire 100 percent of the shares of Invia Group SE for more than PLN 1 billion (EUR 233.7 mln), stressing that the price might be increased by net cash accretion up to the closing date of the transaction.
Invia is a European company based in Prague, Czech Republic. The group, through its subsidiaries, operates on different EU markets: Germany, Austria, Switzerland, the Czech Republic, Slovakia, Hungary and Poland, in the area of intermediation in booking travel services.
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