Wirtualna Polska Edges Closer to Closing PLN 1 Billion Invia Group Deal
Deal News | Dec 31, 2024 | White & Case
Global law firm White & Case LLP has played a pivotal role in advising the Wirtualna Polska group on its substantial acquisition of Invia Group SE from European Bridge Travel a.s. (EBT). The deal, valued at more than PLN 1 billion, marks a significant expansion for Wirtualna Polska, who will be taking control of 100 percent of Invia's shares. The transaction, however, is still subject to several regulatory approvals, including the consent of the Polish Office of Competition and Consumer Protection and the Shanghai United Assets and Equity Exchange. Notably, the shareholders of the Invia Group, namely Rockaway Group a.s. and CITIC Europe Holdings a.s., have agreed to stand as guarantors for EBT in fulfilling its obligations stemming from the sale. The acquisition will allow Wirtualna Polska to significantly enhance its presence in the online travel sector across several European countries where Invia Group is already operational. The team's advisory effort at White & Case includes strategic partners and associates from diverse geographical locations, underlining the complex and international legal landscape of the transaction.
Sectors
- Travel and Tourism
- Legal Advisory
- Private Equity
Geography
- Poland – Wirtualna Polska is a Polish company, and the transaction awaits approval from Polish regulatory authorities.
- Czech Republic – Invia Group operates in this country, and White & Case has legal partners advising from Prague.
- Germany – Invia Group also operates package holiday services here, and legal advice is partly provided from Berlin.
Industry
- Travel and Tourism – The Invia Group operates in the travel industry through package holiday booking platforms across several European countries.
- Legal Advisory – White & Case LLP is involved as the legal advisor facilitating this complex cross-border acquisition agreement.
- Private Equity – Given the involvement of European Bridge Travel a.s. as a seller and Rockaway Group a.s. and CITIC Europe Holdings a.s. as stakeholders in the deal.
Financials
- PLN 1 billion – The acquisition price for 100 percent of the shares in Invia Group SE.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Wirtualna Polska | Buyer | Company | A Polish company acquiring Invia Group SE as part of its expansion strategy. |
| Invia Group SE | Target Company | Company | Operates travel booking platforms in multiple European countries. |
| European Bridge Travel a.s. | Seller | Company | The entity selling 100 percent of the Invia Group shares. |
| Rockaway Group a.s. | Guarantor | Company | Existing shareholder and guarantor of EBT's obligations in the sale. |
| CITIC Europe Holdings a.s. | Guarantor | Company | An existing shareholder of Invia Group acting as a guarantor. |
| White & Case LLP | Legal Advisor | Company | Leading global law firm advising Wirtualna Polska in the acquisition process. |