ATHENS, May 11 (Xinhua) -- U.S. investment firm Blackstone has reached an agreement to acquire Greek e-commerce platform Skroutz from private equity group CVC Capital Partners, Greek financial media reported on Monday.

hoto taken on March 14, 2022 shows flowers blossoming at Filopappou Hill opposite Acropolis in Athens, Greece. (Photo: Xinhua)

Greek outlet OT described the transaction as a major development in Greece's digital economy, saying the move signals growing interest from international investors in the country's technology and online retail sectors.

Local media estimated the value of the deal, including debt, at around 635 million euros (720 million U.S. dollars), with CVC expected to secure significant returns on its investment.

Founded in 2005, Skroutz has developed from a price-comparison website into one of Greece's leading e-commerce platforms, offering online marketplace, logistics and digital payment services. The company is considered a central player in the Greek online retail market.

Under the agreement, Skroutz founders are expected to reduce part of their holdings while retaining a stake in the company. George Chatzigeorgiou will continue to serve as chief executive officer.

Greek media analysts said the acquisition reflects international investors' confidence in the long-term prospects of Greece's digital economy and broader market recovery.