White & Case has advised the PPF Group on its acquisition of a 15% shareholding in InPost from Advent International for EUR 10 per share. Weil, Gotshal & Manges advised Advent.
InPost is a European automated parcel machine service provider listed on Euronext Amsterdam.
According to the PPF Group, “together with previous purchases of InPost shares on the open market, the group currently holds an aggregate shareholding representing 16.75% of the InPost share capital. Under the agreement with Advent, PPF has the option to buy a further 15% stake in InPost 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 Group Chief Investment Officer Didier Stoessel said. “E-commerce is one of our four main investment pillars, along with financial services, telecommunications, and media. As a major shareholder, we are committed to contributing to the international expansion of, and value generation by, InPost, one of the most dynamic companies in its sector.”
Back in 2019, White & Case advised the PPF Group on several mandates, including its EUR 500 million note issuance (as reported by CEE Legal Matters on November 27, 2019); the establishment of its EUR 3 billion Medium Term Note Program and debut issuance of EUR 550 million 3.125% notes due March 2026 (as reported on April 9, 2019); the sale of its stake in Telenor Hungary (as reported on November 7, 2019); and its USD 2.1 billion acquisition of Central European Media Enterprises (as reported by CEE Legal Matters on November 6, 2019).
The White & Case team included Prague-based Partners Jan Andrusko and Jan Stejskal with further team members in London and Luxembourg.
The Weil team was led by London-based Partners David Avery-Gee, Sarah Flaherty, and Patrick Brendon.