EBRD co-finances SBB acquisition

The European Bank for Reconstruction and Development (EBRD) announced Monday that it had provided up to EUR 50 million to co-finance the acquisition of the cable and telecom operator SBB/Telemach by the US investment company KKR.

According to the release on the EBRD website, the transaction involving the takeover of SBB/Telemach which operates in Serbia, Slovenia, Bosnia-Herzegovina, Montenegro, Croatia and Macedonia is valued at up to EUR 1 billion.

The EBRD assessed that the acquisition of the SBB/Telemach group would increase competition in the telecom sector of Southeast Europe and support the expansion of that regional telecom and media company.

The SBB/Telemach group has about 1.7 million cable, satellite TV, Internet, fixed and mobile subscribers.