Megafon completes Yota takeover

News Wireless Russian Federation 2 OKT 2013
Megafon completes Yota takeover
Russian mobile operator Megafon has completed the acquisition of Scartel, the LTE operator controlling Yota, for USD 1.18 billion plus debt. As part of the acquisition, Megafon provided the companies a revolving credit facilty worth RUB 8.5 billion. The re-payment term totals three years, and the interest rate is 8 percent. The funds will be used for operating needs and partial loan re-payment. The net debt of Scartel totals USD 566 million. Megafon will pay half the acquisition price in one year and the remainder in two years, plus interest of 6 percent per year.

Categories:

Mobile

Companies:

MegaFon,  Scartel,  Yota

Countries:

Russian Federation

Tags:

4G - LTE, Financial funding, M&A buyouts & divestments

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