Christian Fojtl, Jacek Wachowicz, and Bartosz Bzoma, Managing Directors, will remain shareholders in WPP and have committed to the company for at least another five years. WPP will continue to be run by its current management team to further pursue its successful growth strategy in Poland. Furthermore, becoming a part of Catella, it will generate significant synergies to the Group as asset and investment manager for existing and future Property Fund Investments, as well as development opportunities for Principal Investments.
“We are delighted to have agreed to enter a partnership with the Managing Directors of WPP and we look forward to continue to develop WPP together with its partners and employees. Poland is a key strategic market for us, where we see potential property development opportunities and significant investment management synergies across the Group. With the acquisition of WPP we get a highly skilled team with a strong track record and an exceptional knowledge of the Polish real estate market, who now will have a much increased ability to grow with Catella’s capital supporting their ambitious plans. The acquisition ties into Catella’s growth strategy through partly owned companies alongside local partners, which ensures commitment by local management and financial incentives that are aligned with Catella’s overall goals,” says Christoffer Abramson, President and CEO at Catella.
“We are excited about becoming a part of the Catella Group. Today, WPP is an agile, well-established real estate company serving the Polish market. By joining Catella we can add additional value and growth through Catella’s pan-European real estate infrastructure. We are confident that the combination will be successful and result in a strong asset management and development capabilities ready to serve both local, Catella internal and international clients” says Jacek Wachowicz, CEO WPP
The transaction is expected to be completed during the second quarter of 2022.