Mid Europa Partners has agreed to acquire UPC Slovenia, a Slovenian cable and broadband operator, from Liberty Global Inc. No financial terms were disclosed.
Mid Europa Partners announced today that it has entered into an agreement to acquire 100% of the Slovenian cable and broadband operator UPC Slovenia from Liberty Global, Inc. The acquisition is subject to customary closing conditions, including conditions precedent to debt financing and the receipt of regulatory
UPC is the leading analogue and digital cable, and broadband operator in Slovenia servicing approximately 40% of the pay TV households in the country through its nation-wide network.
Robert Knorr, Partner of Mid Europa said: “We are delighted to return to invest in Slovenia, which continues to be one of the strongest economies in Central and Eastern Europe and is a Euro member. Liberty Global’s asset in Slovenia has a commanding position in the pay TV market and is one of the leading providers of broadband internet and telephony services. Mid Europa’s strategy for this investment is to leverage its strong track record and established relationships in the cable TV sector to add significant value to UPC Slovenia as it seeks to retain its leading position in an increasingly competitive market. This acquisition follows our investment in the leading Serbian pay TV and broadband provider (SBB), and positions us as the owner of the two preeminent pay TV platforms in the media and telecom space in the territories of the former Yugoslavia.”
Stefan Tzvetkov, who executed the acquisition together with Andrej Babace and Andreea Constantinescu, said: “We are pleased to have secured a transaction in a very difficult transacting and financing environment for an asset with strategic long term value.”
Mid Europa Partners is the largest private equity firm investing in Central and Eastern Europe. Operating from London, Budapest and Warsaw, Mid Europa Partners advises and manages funds with committed capital of approximately €3.2 billion. The Mid Europa Partners team has been investing in Central and Eastern Europe since 1999. Mid Europa Partners has made investments in twenty-four companies located in fourteen countries of Central and Eastern Europe. Mid Europa Partners employs an active, hands-on investment approach and applies the sector knowledge and operating experience of its people to deliver long-term value creation together with the management teams of portfolio companies.
For additional information on Mid Europa Partners please visit: www.mideuropa.com