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Mid Europa Partners to acquire Aster

08 December 2005

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.

 

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