Blackstone agrees to acquire majority stake in Skroutz
Updated
Updated · Bloomberg · May 11
Blackstone agrees to acquire majority stake in Skroutz
9 articles · Updated · Bloomberg · May 11
The stake is being bought from CVC Capital Partners in Greece, while Skroutz founders will sell part of their holdings but keep a stake.
George Chatzigeorgiou will remain chief executive and the founders will continue leading the online marketplace after the transaction, according to a statement reviewed by Bloomberg News.
Financial terms were not disclosed. The deal expands Blackstone's presence in the Mediterranean country through one of Greece's online marketplace businesses.
What is Blackstone's playbook for turning Skroutz into the champion of the $9 billion Balkan e-commerce market?
As Blackstone buys Greece's top marketplace, will it empower local merchants or create a new monopoly?