Mid Europa Partners announces an agreement to buy Aster, a
leading provider of media and communication services in Poland,
from Hicks Muse Tate & Furst.
The transaction is expected to close early next year.
Aster is Poland's first triple-play provider, offering
television, broadband Internet and telephony services. Aster
was the first operator to introduce digital CATV services and is
among Poland's largest CATV operators with leading positions in
Warsaw, Krakow and Zielona Gora.
Thierry Baudon, the Managing Partner of Mid Europa Partners,
said: "Aster represents an excellent platform for consolidation of
the Polish CATV market and, with our intimate knowledge of the
Polish cable sector, we are uniquely-positioned to lead this
consolidation in partnership with Aster's management."
"We look forward to reuniting with the management team, with
whom we have enjoyed a strong working relationship and who are
making a significant investment in the deal," said Matthew
Strassberg, a Director of Mid Europa Partners who led the
transaction.
John Arciszewski, Aster's CEO said: "Under the ownership of
Hicks Muse, Aster became the undisputed innovator in the Polish
cable market, having been the first to introduce digital TV,
broadband Internet and telephony services on a single platform. We
are delighted to welcome back Mid Europa Partners as an investor,
and look forward to a constructive partnership with Mid Europa
Partners, as we continue to grow the company. Management's expected
significant stake in the company underscores our belief and
confidence of even greater value creation in the future".
Goldman Sachs International acted as exclusive financial adviser
to Hicks Muse Tate & Furst in connection with the
transaction.
Credit Suisse First Boston (Europe) Limited has acted as
financial adviser to Mid Europa Partners in connection with the
acquisition and Credit Suisse First Boston International has
provided a financing commitment to Mid Europa Partners in
connection with the acquisition.
Mid Europa Partners is the investment manager to Emerging Europe
Convergence Fund II, L.P. whose fund manager and general partner is
EMP Europe Management (CI) LP.