Mid Europa Announces Sale of Ceske Radiokomunikace to Macquarie-Managed Funds
6.12.2010
Falcon Group, a consortium of investors 75% controlled by funds managed or advised by Mid Europa Partners (“Mid Europa”), announces that it has entered into an agreement to sell 100% of České Radiokomunikace, a.s. (“CRa” or the “Company”) to a consortium of funds managed by Macquarie for total consideration of approximately €574 million. The sale is subject to customary closing conditions, including Czech Anti-monopoly office clearance.
Craig Butcher, Partner of Mid Europa, said: “We are pleased to have sold CRa on these terms. Since our original investment in CRa in 2006, the Company has increased its profitability and refocused on core activities while investing significantly in the roll-out of a nation-wide digital terrestrial TV infrastructure. We would like to thank everyone at CRa for their contribution and achievements over the past several years and wish them continued success with their new owner.”
Jane Hannah, CEO of České Radiokomunikace, said: “Mid Europa has been a reliable and responsible owner of this critical infrastructure and a supportive partner for management. We are grateful for their strong commitment to CRa’s long term digital broadcasting strategy and look forward to continuing to implement this strategy under the ownership of Macquarie.”
Goldman Sachs International acted as exclusive financial advisor and White & Case as legal counsel to Falcon Group for this transaction. Ernst & Young, CMS Cameron McKenna and Solon Management Consulting provided financial & tax, legal and commercial & technical vendor due diligences, respectively.
For further information please contact:
Mid Europa Partners:
Craig Butcher or Nikolaus Bethlen
+36 (1) 411 1270
Citigate:
David Westover/Agnès Riousse
+44 (0) 20 7638 9571
Notes to the editors:
ABOUT MID EUROPA PARTNERS
Mid Europa Partners is a leading independent private equity firm focused on Central and Eastern Europe. Operating from London, Budapest and Warsaw, Mid Europa Partners advises and manages funds with asset value of approximately €3.2 billion. The Mid Europa Partners team has been investing in Central and Eastern Europe since 1999.
ABOUT CESKE RADIOKOMUNIKACE
CRa is the leading provider of nation-wide broadcasting and telecommunications tower infrastructure in the Czech Republic. The Company currently serves 98% of the Czech TV and radio broadcasting market and provides corporate and wholesale services to nearly 500 business customers.