The United Group, the largest media and telecommunication business in Southeast Europe, has reached a deal on purchasing Tele2 Croatia for 220 million Euros (enterprise value) and it is expected the transaction, currently in the process of getting a permit from the regulator, will be finished before the end of this year.
This is the first transaction since March 2019 when the BC Partners, the international investment company, became the majority owner of the United Group. At the same time, this is one of the largest transaction in Southeast Europe ever.
The acquisition of Tele2 will increase the United Group growth and cement its position as the leader of in the industry it does business in.
Victoria Boklag, the United Group CEO said that “Croatia is a very attractive and important market to us and we are glad about the acquisition of Tele2 Croatia because it will enable us to further spread the Group’s business into the EU member states and to strengthen the telecommunication services we provide.”
“We have excellent results in the integration of the mobile business in the region following the acquisition of Tusmobile in Slovenia, and we are excited with new possibilities which come with Tele2 in Croatia.”
Nikos Stathopoulos, a partner at BC Partners, said that “when we invested in United Group we identified its business model, technology, and the regional leadership as the crucial initiators of the organic growth, increased by the ability to purchase and integrate local companies.”
“We are glad that we got yet another local dynamic player with Tele2 Croatia with a respectable consumers base which enables us to widen the services we provide and their coverage across Europe.”
Headquartered in Amsterdam, the United Group is a leading independent provider of media and communication services across Southeast Europe.
Through substantial investments in digital infrastructure, content and own technology, it provides leading services to its clients across the region.
In the last 18 years, the Group widen its presence through organic growth and acquisitions and now employs over 4,400 people and offers services to more than 1.8 million households.
About United Group
Established in 2000, the United Group is a leading provider in telecommunication and media services in Southeast Europe. It has the most extensive network coverage in the region and offers the most attractive choice in TV content, from the local to the best from the whole world. The United Group has a business in six countries (with companies like SBB, Telemach and United Media, and TV channels as Sport Club, Nova TV and N1 TV), and together with the global OTT service covers 3.74 million subscribers in 1.8 million households, with 4.400 employees. BC Partners is the majority owner of the United Group.
About BC Partners
BC Partners is a leading international investment company with 25 billion Euros invested in capital, loans and properties. It was founded in 1986 and for the last three decades it played an active role in developing and shaping the European acquisition market. Today, the executive directors of the BC Partners do business in many markets as an integrated team through their offices in North Americas and Europe. Since it was founded, BC Partners invested in 108 companies whose total value was 135 billion Euros and currently is investing from its 10th fund.
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