VTB Capital to Exit Vivacom to BC Partners-Backed United Group in USD1.3 Billion Acquisition
Posted On: 11 Nov 2019 | Source(s): Digital TV Europe | Author(s): Stuart Thomson
VTB Capital, the investment arm of Russia-based VTB Bank, has agreed to exit its stake in Bulgaria-based telecommunications operator Vivacom to United Group, a Netherlands-based media company operating in countries of the former Yugoslavia and owned by Europe-focused private equity firm BC Partners. United Group will acquire Vivacom for a reported EUR1.2 billion (approximately USD1.3 billion). VTB Capital secured a majority stake in Vivacom in 2015 for EUR130 million (USD167 million). The transaction, which is pending regulatory approval, is expected to close in the second quarter of 2020.