Global investment firm Warburg Pincus has bought a stake in Czech internet company NetCentrum. Terms were undisclosed but local media reports said the web portal had been planning a €100 million ($147.4 million) float.
NetCentrum was founded by Ondrej Tomek and Oldrich Bajer in September 1999. It is now visited by 700,000 users daily and has almost 3 million monthly users.
Warburg Pincus declined to comment.
Yesterday the firm sold a 35 percent stake in Loyalty Management Group, which runs UK customer reward scheme Nectar, making a 6.5 times return. The entire business was sold for £368 million (€515.5 million; $759.7 million) to Canadian trade buyer Aeroplan.
Warburg Pincus also invested $43.8 million (€29.7 million) in a $100 million funding round into Ukraine consumer lending business IMB Group, valuing the company at $263.5 million in June. At the time, the investment was its eighth investment in Central and Eastern Europe.