Private equity firm Mid Europa Partners has merged two of its telecoms units, raising EUR330 million (USD434.3 million) of senior debt from eight regional and international banks to refinance existing debt and fund further acquisitive growth. Europa combined Serbian broadband and pay-TV provider Serbia Broadband (SBB) with Telemach Group, which offers cable-based triple-play services in Slovenia and Bosnia and Herzegovina. The combined company serves a total of 1.7 million cable and satellite TV, broadband, fixed and mobile (resale) telephony users.
Robert Knorr, Mid Europa’s head of investments in South Eastern Europe (SEE) said in a statement: ‘Today’s transaction marks an important step in our regional consolidation strategy in this sector as we have just formed the leading multi-country pay TV distribution platform operating in SEE.’
Mid Europa also holds stakes in cellcos Orange Austria, T-Mobile Czech and Bite (Latvia) as well as in Hungarian broadband operator Invitel.