KKR completes SBB/Telemach acquisition

(Photo: Ivana Vuksa)

KKR, a leading global investment fund, has announced the completion of the acquisition of United Group (SBB/Telemach), a leading cable and pay TV operator in southeast Europe.

KKR signed a final agreement to buy United Group from Mid Europa Partners on 15 October 2013. It was neccessary to get usual approvals from regulatory bodies in order to complete this acquisition, which is now finally done.

Also, the transaction according to which the European Bank for Reconstruction and Development (EBRD) and KKR together invest USD 50 million was concluded Thursday.

Operating under brands SBB and Telemach, United Group has 1.89 million users in six countries of former Yugoslavia, whose total population exceeds 20 million.

- After completing the transaction, we are completely ready to accelerate the implementation of our plans for this region and, thus, offer citizens a broad spectrum of high-quality services at affordable prices. With the support of such international investors like KKR and EBRD, we will continue to operate in line with strict European standards and regulations - said Dragan Solak, the founder and chairman of the Managing Board of United Group.