Recent deals

Hines is pleased to announce that it advised the Administrators of Wonga Worldwide Limited (in administration) on the sale of Wonga’s business in Poland to KRUK S.A.

Wonga Poland has been operating since 2012 and currently employs about 100 people. Over time, it has provided 1.5 million loans to a customer base of 1.1 million, offering short-term and instalment loans to consumers at the higher quality end of the risk spectrum.

The transaction value of PLN 97.1m (€22.7m) comprised the right to ownership of the Wonga brand (PLN 3.0 million) and the repayment of intercompany liabilities to the vendor (PLN 94.1 million).

KRUK S.A.

KRUK S.A. is a market leader in the Polish debt management market, listed on the Warsaw Stock Exchange with a market capitalisation of PLN 3.2bn (€740m). The Group manages the collection of debt in the unsecured consumer, mortgage-backed and corporate debt markets. The acquisition of Wonga Poland accelerates its presence in the new consumer loan market which it entered with the Novum brand in 2010.
Hines Associates Limited acted as exclusive financial advisor to the Administrators of Wonga Worldwide Limited (in administration) working in partnership with Warsaw-based Saski Partners.