EBRD participates with up to EUR 50mn in KKR's EUR 1bn acquisition of SBB/Telemach media group

By bne IntelliNews February 10, 2014

The EBRD said it has co-invested alongside private equity firm Kohlberg Kravis Roberts (KKR) in last year's acquisition of a majority stake in the SBB/Telemach group - South East Europe’s leading regional Pay TV platform, from Mid Europa Partners.

The EBRD said in a statement its financing in this project was up to EUR 50mn, while the total project cost is EUR 1bn. It was not immediately clear what ownership stake does the EBRD has in SBB/Telemach following the transaction, which is still subject to regulatory approvals.

The EBRD was also a minority partner of Mid Europa in SBB/Telemach prior to Mid Europa's exit in

October 2013 when the group was sold to KKR. The deal is among the region's largest M&A transactions in the past years.

The EBRD said the acquisition will increase competition in the telecom sector,  dominated by incumbent operators, and support "the expansion of a regional telecom and media player that has demonstrated the use of best practice across various markets and geographies".

The project should as well encourage other large global buy-out firms to look at Eastern European companies.

SBB/Telemach operates in Serbia, Slovenia, Bosnia, Croatia, Montenegro and Macedonia – a market of over 20 million people, and has around 1.7 million cable and satellite TV, broadband, fixed and mobile customers.

The group comprises SBB - the largest cable operator in Serbia, as well as the largest cable operator in Slovenia and Bosnia – Telemach, along with another 15 smaller firms. Moreover, SBB already operates on the fixed telephony market in Serbia and plans to become the fourth mobile operator in the country soon.

Related Articles

Romanian software producer Bitdefender takes over French peer Profil Technology

Romanian security technology company Bitdefender has acquired its French peer Profil Technology as part of its expansion strategy on the corporate segment.  The terms of the deal were not ... more

Chinese fund to buy Hungarian telco Invitel

Central European private equity group Mid Europa Partners has agreed to sell Hungarian broadband and telephone provider Invitel to China CEE Investment Co-operation Fund. The deal values ... more

Chinese Zhejiang Jinke Entertainment Culture reportedly acquires Slovenia’s Talking Tom for €1bn

Chinese group Zhejiang Jinke Entertainment Culture Co has reportedly acquired entertainment company Outfit7, majority-owned by Slovenia's richest couple Samo and Iza Login, for €1bn, regional ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss