The European Bank for Reconstruction and Development (EBRD) has confirmed that it has maintained its minority ownership stake in cable network operating group Serbia Broadband (SBB)/Telemach (a.k.a. United Group) via an investment of EUR50 million (USD68 million), following the takeover of the majority ownership of the group by investment fund Kohlberg Kravis Roberts (KKR) in a near-EUR1 billion deal agreed in October 2013. As reported by Balkans.com, Henrik Kraft, head of KKR’s telecoms and technology team in Europe said: ‘We are very pleased with the EBRD’s continued commitment to SBB/Telemach.’ The EBRD has participated in the cable group via debt/equity financing since 2004.
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