Clifford Chance has advised a consortium of funds consisting of Cinven, Permira, and Mid Europa, on their USD 3.253 billion acquisition of the Allegro Group, the largest online marketplace and non-food shopping destination in Poland, from South Africa-based Internet and entertainment group Naspers. Allen & Overy advised Naspers on the deal.
Allegro, which was established in 1999 and now employs around 1,250 people, has over 20 million registered users who carry out 14 million transactions monthly. According to a Clifford Chance press release, "Cinven, Permira, and Mid Europa identified Allegro as an attractive investment opportunity and the Clifford Chance team supported the funds to secure the acquisition through a competitive bidding process."
Clifford Chance Global Head of Private Equity Jonny Myers led the firm’s team, which included London-based Partners Graham Phillips and Jenine Hulsmann, Warsaw-based Partners Nick Fletcher and Krzysztof Hajdamowicz, London-based Senior Associates Jonathan Kewley, David D'Souza, and Jonathan Halliwell, and London-based Lawyer Elizabeth Sinclair.
Jonny Myers commented: ''We are honored to have worked with three outstanding market-leading clients. Consortium bids are some of the most challenging and complex to deliver for a private equity house requiring seamless teamwork, team chemistry and, above all, mutual respect."