Polish EBay Competitor Allegro Said to Draw CVC, Cinven Bids

  • Buyout firms are part of two consortia leading bids for asset
  • Naspers-owned Allegro could fetch about $3 billion in a sale

Two groups of private equity firms are among the leading bidders for Naspers Ltd.’s Polish auction site Allegro, according to people familiar with the process.

CVC Capital Partners with General Atlantic and a group composed of Cinven Ltd., Permira and Mid Europa Partners submitted two of the highest bids for Allegro, said the people, who asked not to be named as the deliberations are private. The company, which competes with EBay Inc. in Poland, could fetch about $3 billion including debt, people familiar with the talks said previously. No final decisions have been made and the two private equity groups may not be successful.

Cape Town-based Naspers is facing challenges from U.S. technology companies and weaker African currencies as the continent’s biggest company by market values tries to grow its internet and pay-TV businesses. Naspers hired Morgan Stanley to advise on a potential sale of Allegro, people familiar with the plans said in June.

Representatives for Naspers, CVC, General Atlantic, Cinven, Permira and Mid Europa declined to comment.

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