Two bidders for Żabka

Image : Wikimedia Commons / Wojciech Sarnowski
Image : Wikimedia Commons / Wojciech Sarnowski

Two investment funds, TPG and CVC will submit their offers for convenience store chain Żabka, the chain owner Mid Europa Partners, said. The bids are expected to be submitted over in the next week.

TPG, which manages assets worth $70 billion operates such retail chains as Lenta in Russia, Poundworld in the UK and Indomaret in Indonesia. CVC has unsuccessfully tried to buy Polish auction site Allegro and SABMiller CEE assets.

According to the daily Puls Biznesu, MEP is looking for a PLN 5 billion for Żabka, which controls 3 percent of the Polish retail market, its sales in 2016 amounted to PLN 6 billion.

MEP acquired Żabka back in 2011 for €400 million.

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