Kyiv, 9 January 2014 – The EY Ukraine M&A team has successfully closed an M&A deal on attraction of Europe Virgin Fund, a regional private equity fund sponsored by Dragon Capital, which acquired a controlling stake in the Portmone company, the nation’s number one online bills delivery and payment service. In line with the fund’s strategy, EVF has acquired a controlling stake in the business. The founding shareholders retain a minority stake and will continue to grow Portmone’s business with support from EVF.

Portmone.com engaged Ukrainian M&A team of EY as an investment advisor responsible for investor search, negotiations, valuation and deal structuring. The team was led by Vladyslav Ostapenko, Head of Corporate Finance and M&A, with support from Stanyslav Kartavykh, Senior, and Oleksandr Romanyshin, Senior Manager, EY Ukraine.

“During the course of engagement we managed to attract interest of a number of strategic and financial investors to Portmone.com. The best combination of value for current shareholders and perspectives of growth was offered by EVF – private equity fund which investors' list includes EBRD and other reputable investors. This deal is a bright example which proves a possibility to attract investors for well managed and well prepared companies despite current turbulent times” – commented Vladyslav Ostapenko, Head of Corporate Finance and M&A, EY Ukraine.