Global law firm White & Case LLP has advised global investment firm Rockaway Capital on its acquisition for more than €200 million of Netretail Holding B.V. and Heureka from Naspers, the South African-based internet services provider with a particular focus on ecommerce.
"This is a significant acquisition for Rockaway because the revenue from its ecommerce holdings is now expected to exceed €1 billion in the years ahead," said Prague-based White & Case partner Michal Smrek, who co-led the Firm's deal team. "The transaction underlines the strength and capabilities of the White & Case private equity practice in EMEA."
London-based White & Case partner Ross Allardice, who co-led the deal team, said: "Rockaway's acquisition of Netretail and Heureka fulfils its vision to be the leading ecommerce player in Central & Eastern Europe. It's another example of White & Case playing a key role in ensuring our clients have success in pursuing their strategic ambitions."
Rockaway is an investment firm based in San Francisco, Prague and Sao Paolo focused on building the internet economy in emerging markets via venture capital, private equity and its own incubation. Netretail Holdings is a leading online retail business in Central & Eastern Europe. Heureka is the leading online price comparison business in the Czech Republic and Slovakia.
Rockaway Chief Executive Officer Jakub Havrlant, who led the acquisition for Rockaway, said: "The team at White & Case delivered a high quality and full service legal solution to assist us on this important expansion in our ecommerce portfolio and we were delighted with our partnership with them."
Financing for the acquisition, which is subject to regulatory approvals, has been provided by Daniel Křetinský, the Czech businessman and Chairman of leading Central European energy group Energetický a Průmyslový Holding, Slovak businessman Patrik Tkáč and the PFF Group.
The White & Case team which advised on the transaction was co-led by partners Michal Smrek (Prague) and Ross Allardice (London) and included partners Damian Beaven and Ivo Janda (both Prague) with support from associates Tony Brown, George Kanelos, (both London), Jakub Mencl and Magda Olysarova (both Prague) and trainee lawyer Oliver Trotman (London).
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