CVC used AI instead of bankers to run Skroutz sale

When buyout giant CVC Capital Partners put Greek e-commerce marketplace Skroutz up for sale earlier this year, it did not hire investment bankers to manage the process. Instead, the firm used artificial intelligence to run the deal, according to The Wall Street Journal — a development that underscores how rapidly AI is reshaping the highest echelons of corporate finance. wsj.com wsj.com

The sale ultimately resulted in Blackstone agreeing in May to acquire a majority stake in Skroutz, valuing the company at €635 million including debt. CVC had invested in the Athens-based online marketplace, which connects nearly 9,000 merchants with millions of Greek shoppers, since 2020. The transaction is expected to close in the second half of 2026, subject to regulatory approvals. private-equitynews.com retail-insight-network.com cvc.com linkedin.com

AI Moves From Experiment to Infrastructure

The CVC-Skroutz deal arrives alongside broader evidence that AI has moved well beyond experimentation in mergers and acquisitions. A global survey of 1,000 senior dealmakers across 27 countries, published on July 8 by Datasite and developed with FT Longitude, found that 62% of respondents no longer consider human-only decision-making defensible in complex M&A. Ninety-six percent said they are using or exploring AI for sourcing and screening opportunities, while half reported AI is regularly embedded in due diligence. itbrief.co.uk globenewswire.com

Accuracy was ranked as the most important requirement for AI tools by 71% of respondents, followed closely by security at 70%. More than half said they rely on human review to build trust in AI-generated outputs, and 45% said the final decision to sign a deal should always remain a human responsibility. cfotech.co.uk itbrief.co.uk

Limits and Risks

Despite the enthusiasm, dealmakers identified skills they believe AI cannot replicate: negotiation and relationship management, strategic judgment, assessing trust and credibility, and accountability for high-stakes decisions. Nearly a quarter of respondents warned that poor use of AI could jeopardize major deals over the next five years. itbrief.co.uk

“AI is becoming indispensable in dealmaking and investing, but adoption alone isn’t the advantage,” said Raj Bakhru, General Manager of Blueflame AI. “The real challenge is ensuring AI outputs are accurate, secure and trusted”. itbrief.co.uk