SEE Legal Advises Lenders on the Acquisition of Telenor’s Business in South East Europe
SEE Legal Advises Lenders on the Acquisition of Telenor’s Business in South East Europe
SEE Legal advised Société Générale, as agent, and a syndicate of lenders in connection with a EUR 3.05 billion credit facility provided to the PPF Group for the acquisition of, among other assets, 100 per cent interests in Telenor Bulgaria, one of the three mobile operators in Bulgaria, Telenor Beograd (Serbia) and Telenor Podgorica (Montenegro).
Allen and Overy acted as the Lead Council of the lenders on this transaction while SEE Legal provided Bulgarian, Serbian and Montenegrin law advice on the local aspects of the transaction.
“Telenor Group’s strategy is based on growth, efficiency and simplification. With the sale of our CEE assets, we take an important step in simplifying and focusing Telenor’s portfolio on the regions where we see the strongest potential for value creation. Following this transaction, Telenor’s footprint will consist of integrated fixed and mobile operations in Scandinavia, and strong mobile positions in Asia. Telenor is confident that PPF Group’s experience in both the region and sector will make it a good owner of the CEE assets,” says Sigve Brekke, Chief Executive Officer of Telenor Group.
The new owner of Telenor’s business in East Europe is PPF Group, one of the biggest investment funds in Central and Eastern Europe. PPF Group has previously acquired O2’s mobile business in Slovakia and the Czech telecoms infrastructure business Cetin.
The SEE Legal’s team included in Bulgaria: banking & finance partner Damian Simeonov, M&A partner Yordan Naydenov and senior associate Ralitsa Nedkova, in Serbia: managing partner Tijana Kojovic, senior associates Dragoljub Sretenovic and Tomislav Popovic and consultant Pablo Perez Laya, and in Montenegro, partner Luka Popovic.
SEE Legal advised Société Générale, as agent, and a syndicate of lenders in connection with a EUR 3.05 billion credit facility provided to the PPF Group for the acquisition of, among other assets, 100 per cent interests in Telenor Bulgaria, one of the three mobile operators in Bulgaria, Telenor Beograd (Serbia) and Telenor Podgorica (Montenegro).
Allen and Overy acted as the Lead Council of the lenders on this transaction while SEE Legal provided Bulgarian, Serbian and Montenegrin law advice on the local aspects of the transaction.
“Telenor Group’s strategy is based on growth, efficiency and simplification. With the sale of our CEE assets, we take an important step in simplifying and focusing Telenor’s portfolio on the regions where we see the strongest potential for value creation. Following this transaction, Telenor’s footprint will consist of integrated fixed and mobile operations in Scandinavia, and strong mobile positions in Asia. Telenor is confident that PPF Group’s experience in both the region and sector will make it a good owner of the CEE assets,” says Sigve Brekke, Chief Executive Officer of Telenor Group.
The new owner of Telenor’s business in East Europe is PPF Group, one of the biggest investment funds in Central and Eastern Europe. PPF Group has previously acquired O2’s mobile business in Slovakia and the Czech telecoms infrastructure business Cetin.
The SEE Legal’s team included in Bulgaria: banking & finance partner Damian Simeonov, M&A partner Yordan Naydenov and senior associate Ralitsa Nedkova, in Serbia: managing partner Tijana Kojovic, senior associates Dragoljub Sretenovic and Tomislav Popovic and consultant Pablo Perez Laya, and in Montenegro, partner Luka Popovic.
