Mid Europa Completes First Part of Invitel Buyout

Mid Europa Partners has completed the first part of its acquisition of Invitel Holdings AS (AMEX: IHO), a fixed-line telecom and broadband internet services provider in the Republic of Hungary.

The total deal involves three separate transactions: Mid Europa has paid $10.8 million to TDC AS for its 64.6% stake in Invitel; Mid Europa will next purchas all of TDC’s rights and obligations under a €34.1 million subordinated PIK loan (which would be increased up to €91.4 million); and Mid Europa will launch a tender offer for the outstanding €125 million floating rate senior PIK notes due 2013 (held by Invitel). www.mideuropa.com