Capital One Advisers advises Shareholders and the Company on sale of Audioteka S.A. to the Wirtualna Polska Group

Capital One Advisers was the financial and transaction adviser to the Selling Shareholders – Giza Polish Ventures I FIZAN, WEV Partners Limited based in Cyprus and Individuals, as well as Audioteka S.A., in the sale of 60% of Audioteka S.A. shares to the Wirtualna Polska Group. The transaction value amounted to PLN 95 million.

The transaction was completed on September 29, 2022, through the acquisition by Stacja Służew Sp. z o.o., based in Warsaw – a subsidiary of Wirtualna Polska Holding S.A.- of a majority block of shares and Audioteka S.A. subscription warrants. Previously, in 2021, Stacja Służew acquired a stake of approx. 6.8% of the Company’s shares.

Legal advisors in the transaction were law firms: Clifford Chance, which advised WEV Partners and investment firm Giza Polish Ventures, and Baker McKenzie, acting for Wirtualna Polska Holding.

Audioteka S.A. is a leader in the Polish market for audiobooks and other audio content, offering over 20,000 titles through its platform, both in a subscription model (Audioteka Klub) and retail sales (Audioteka Store), including its own productions. Audioteka operates in several geographic markets and is available in more than 10 languages, including Polish, Czech, German, Swedish, and Spanish. Following the transaction, Audioteka’s existing Management Team will continue to work with the Company. Pillars of business growth in the coming years will be, according to published information, further investment in own content, promotion of Audioteka’s subscription program along with Wirtualna Polska’s other subscription services, and intensification of marketing activities in the Polish market and abroad. In 2021, the company reported nearly PLN 90 million in revenue and over PLN 14 million in EBITDA.

Wirtualna Polska is a technology holding dealing with media, advertising, and e-commerce operations, actively consolidating the Polish market. Since 2015, Wirtualna Polska Holding S.A. has been listed on the Warsaw Stock Exchange. In the 12 months ended June 2022, the company’s revenues amounted to nearly EUR 207 million and adjusted EBITDA was about EUR 73 million.

Transaction details: Audioteka: sale of 60% of shares to Wirtualna Polska Group