ARCA Capital is taking control of leading online retailer Hej.sk, the Hospodárske Noviny financial daily wrote.
Hej.sk is currently part of the Czech Kasa.cz group, which Arca Capital is doubling its share in to 60 percent. The Czech antitrust office has already green-lighted the transaction.
"Arca Capital as an investor will in particular help us finance new acquisitions and enter countries of Eastern and Southeastern Europe," sales director Martin Kasa told the daily.
The Slovak investor is also looking to strengthen Hej.sk's market position.
"Our ambitions are even higher for four years from now," Karel Štefulík from Arca Capital said. "We want Kasa to be one of the three biggest online retailers in Hungary, Romania, and Poland."
The fact that the online sales sector has high growth potential contributed to the decision.
Kasa.cz is the second biggest internet merchant in the Czech Republic and currently controls 30 percent of the market.
5. May 2008 at 0:00 | Compiled by Spectator staff from press reports