Barcelona-based online shopping group, Privalia Venta Directa, will acquire German online retailer, Dress for Less, from private equity firm, Palamon Capital, Financial Times reports. The deal is estimated to be worth about €200 million.
Privalia will fund the transaction through a combination of shares, debt and €88 million in new equity from General Atlantic, Highland Capital Partners, Index Ventures and Insight Venture Partners. As per the agreement, managing partners of Dress for Less, Mirco Schultis and Holger Hengstler, will become shareholders in Privalia.
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