Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR")
today announced the signing of a definitive agreement under which funds
advised or controlled by KKR are acquiring the SBB/Telemach Group ("SBB/Telemach
Group") from Mid Europa Partners. The executive management team led
by founder Dragan ?olak will remain in place and retain a substantial
stake in SBB/Telemach Group.
Financial terms of the transaction were not disclosed.
SBB/Telemach Group is the leading Pay-TV (cable, DTH) and broadband
operator in South-East Europe ("SEE"), with a population of over
20m in SBB/Telemach Group's current operating perimeter. 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.
Henrik Kraft, Member of KKR and head of KKR's telecoms and technology
team in Europe said: "We look forward to partnering with Dragan ?olak
and his team. They have built a strong and sophisticated TV and
communications platform and we are excited to support the company in its
Dragan ?olak, Founder and Executive Chairman of the SBB-Telemach Group,
said: "I look forward to the partnership with KKR. Their sector
expertise and experience and global resources and network will be a
great asset for our firm in this next stage of development."
Johannes Huth, Member of KKR and Head of European operations stated:
"KKR has built a successful investment track record in the telecoms and
media sector. I am confident that the investment in the SBB/Telemach
Group will be equally successful."
Commenting on the agreements, KKR's Co-Founder and Co-CEO Henry Kravis
said: "This is our first direct investment in Southern Eastern Europe.
It adds to our investments in more than 40 European companies across 12
countries and it is a sign of our confidence in the prospects of
SBB/Telemach Group, led by Dragan and his talented team, and in the
The transaction is subject to customary approvals and is expected to
close around year-end 2013.
- Ends -
Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a
leading global investment firm with $83.5 billion in assets under
management as of June 30, 2013. With offices around the world, KKR
manages assets through a variety of investment funds and accounts
covering multiple asset classes. KKR seeks to create value by bringing
operational expertise to its portfolio companies and through active
oversight and monitoring of its investments. KKR complements its
investment expertise and strengthens interactions with fund investors
through its client relationships and capital markets platform. KKR & Co
L.P. is publicly traded on the New York Stock Exchange (NYSE: KKR), and
"KKR," as used in this release, includes its subsidiaries, their managed
investment funds and accounts, and/or their affiliated investment
vehicles, as appropriate.
About SBB/Telemach Group
SBB and Telemach form the leading regional Pay TV platforms in South
East Europe, offering cable television, Internet, telephony and DTH
services to approximately 1.5 million subscribers across the markets of
former Yugoslavia. With unmatched reach via cable and DTH in the region
and OTT world-wide TV platform, the group companies have established the
reputation for the most attractive content on their respective markets
available across all devices and formats. Good deals and bundles are
supported with an innovative and reliable technology. The group
companies also offer data and voice services for small, medium and large
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