PPF Group, the biggest Czech private investment group, has acquired a 15% stake in Polish e-commerce logistics and distribution services company InPost.
PPF stated in a press release that it has agreed to buy the stake at €10 per share from private equity firm Advent International. The transaction would bring PPF’s total share in InPost to 16.75% upon completion. PPF will also have the option to buy a further 15% share from Advent.
“With this investment, we have taken a major step towards strengthening the e-commerce sector in which PPF has long been active,” PPF’s Chief Investment Officer Didier Stoessel stated. “E-commerce is one of our four main investment pillars, along with financial services, telecommunications, and media,” he added.
Czech Press Agency noted that the market value of InPost is close to €5bn, estimating that PPF would have paid some €750mn for the stake.
InPost is listed on the Euronext Amsterdam stock exchange and was founded by its current CEO Rafal Brzoska. Its home market is Poland and it is also active in eight Western European countries, operating a chain of more than 29,000 self-service delivery boxes for e-commerce clients as well as logistics services for e-commerce retailers.
Earlier this week, Czech media also reported that PPF sold its Nevsky Centre Shopping Mall, one of the largest shopping malls in St. Petersburg, reducing its real estate portfolio in Russia to an office centre in Moscow. PPF has been curtailing its presence in Russia after Russia invaded Ukraine in February last year. In December, the company said its exit from Russia had resulted in a loss of €318mn for the first half of 2022.