KKR to buy SBB/Telemach from Mid Europa

News Broadband Eastern Europe 15 OCT 2013
KKR to buy SBB/Telemach from Mid Europa
Kohlberg Kravis Roberts has agreed to acquire the European cable operator SBB/Telemach from Mid Europa Partners. The executive management team led by founder Dragan Solak will remain in place and retain a substantial stake in the company. No financial details of the takeover were disclosed. 

SBB/Telemach Group  operates in Serbia, Slovenia, Bosnia, Croatia, Montenegro and Macedonia and has around 1.7 million cable and satellite TV, broadband, fixed and mobile customers. According to earlier press reports, Telekom Austria and a number of other private equity groups looked at acquiring SBB. The company was reportedly valued at up to ten times EBITDA, or around EUR 1 billion. 

Subject to customary approvals, the takeover is expected to close around year-end. 

Categories:

Fixed

Companies:

SBB

Regions:

Eastern Europe

Tags:

Cable - Docsis, Internet Access, M&A buyouts & divestments

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