DLA Piper has advised Wirtualna Polska on its acquisition of the Szallas Group from Portfolion Capital Partners and private individuals. Baker McKenzie advised Portfolion.
Closing is expected in the fall of 2022, pending regulatory approval.
According to DLA Piper, "the purchase price consists of Szallas Group's enterprise value of EUR 72 million plus a net cash value estimated at approximately EUR 10 million as of the closing date."
The Szallas Group owns travel platforms for booking accommodation in Hungary, the Czech Republic, Romania, Poland, and Croatia. The group also operates services offering spa packages, hotel discount coupons, tour operator services, and vouchers for tourist attractions.
The Wirtualna Polska Holding is a Warsaw-based public e-commerce company. Portfolion is a Hungarian venture capital firm.
The DLA Piper team was led by Poland-based Partner Jakub Domalik-Plakwicz and Counsel Marek Kleczek and included Associates Emilia Kalecka, Arkadiusz Karwala, and Kamila Mozdzen, and Junior Associates Dominik Mizerski and Agnieszka Tarasiuk; Hungary-based Partners Andras Posztl, Gabor Molnar, Gabor Fejes, Helga Feher, and Gabor Borbely, Local Partner Zoltan Kozma, Counsel Attila Sari, Senior Associates Gabor Spitz, Blanka Borzsonyi, Daniel Necz, and Imre Beres, Associates Kristof Szeredi and Bettina Bonczok, and Junior Associates Gergo Korodi, Mark Rozsavolgyi, Andor Boros, Fanni Oroszi, Bettina Ujfalusi, Krisztina Varkonyi, and Reka Reisz; Czech Republic-based Partner Miroslav Dubovsky, Senior Associates Petr Samec, Jan Zidek, and Ondrej Chlada, and Associates Jan Metelka and Petr Varvarovsky; Romania-based Counsels Ana-Maria Andronic and Monica Preotescu, Managing Associates Bogdan Buta and Corina Badiceanu, and Associate Diana Nacuta; as well as a team from the firm’s London office.
The Baker McKenzie team was led by Senior Counsel Pal Takacs and included Senior Associate Daniel Orosz.
Editor's Note: After this article was published, the BLS-CEE Law Firm announced it had advised the Szallas Group on the transaction. The firm's team was led by Partner Erzsebet Szalay.