GESSEL advises Wirtualna Polska Holding S.A. on its purchase of shares in Superauto24.com sp. z o.o.

GESSEL provided legal support to Wirtualna Polska Holding S.A. in the transaction for purchase of a majority stake in Superauto24.com sp. z o.o. with its registered seat in Chorzów. The preliminary share purchase agreement was executed on 14 December, followed – upon fulfilment of certain prerequisites – by signing of the promised agreement.

GESSEL provided a range of services at all stages of the transaction, including due diligence, the restructuring whereunder Superauto24.com sp. z o.o. purchased the business enterprises of its affiliates, negotiations with Superauto24.com’s shareholders and drafting of the transaction documentation and technical documentation.

Wirtualna Polska Holding S.A. owns a number of popular multimedia platforms and is a major player in Poland’s internet advertising market. Its brands include the Wirtualna Polska internet portal, o2, money.pl, Pudelek, WP SportoweFakty, Domodi, Allani and Homebook as well as Telewizja WP.

Superauto24.com is an online service which pulls together new car offers from authorised dealers and, in cooperation with the largest banks and leasing institutions in Poland, assists with financing packages. Active in the Polish market since 2000, it is a leader in distribution of car loans.

The GESSEL team working on this transaction was led by Michał Bochowicz, managing associate, assisted by Weronika Zdeb, associate. It comprised Monika Żulińska, managing associate, Michał Trociuk, senior associate and Erazm Dutkiewicz, associate. The due diligence was managed by Maciej Boryczko, managing associate, with input from Dr Artur Kruszewski, senior associate and Piotr Tracz, associate. Overall supervision of the project on GESSEL’s part was by Małgorzata Badowska, partner.