Kohlberg Kravis Roberts &
Co. L.P. announced the
signing of a definitive
agreement under which funds
advised or controlled by KKR
are acquiring the
SBB/Telemach Group (“SBB/Telemach
Group”) from Mid Europa
Partners. The executive
management team led by
founder Dragan Šolak will
remain in place and retain a
substantial stake in
SBB/Telemach Group.
SBB/Telemach Group is the
leading Pay-TV (cable, DTH) and
broadband operator in South-East
Europe (“SEE”), with a
population of over 20m in
SBB/Telemach Group’s current
operating perimeter.
SBB/Telemach Group operates in
Serbia, Slovenia, Bosnia,
Croatia, Montenegro and
Macedonia and has around 1.7
million cable and satellite TV,
broadband, fixed and mobile
customers.
Henrik Kraft, Member of KKR
and head of KKR’s telecoms and
technology team in Europe said:
“We look forward to partnering
with Dragan Šolak and his team.
They have built a strong and
sophisticated TV and
communications platform and we
are excited to support the
company in its further growth.”
Dragan Šolak, Founder and
Executive Chairman of the
SBB-Telemach Group, said: “I
look forward to the partnership
with KKR. Their sector expertise
and experience and global
resources and network will be a
great asset for our firm in this
next stage of development.”
Johannes Huth, Member of KKR
and Head of European operations
stated: “KKR has built a
successful investment track
record in the telecoms and media
sector. I am confident that the
investment in the SBB/Telemach
Group will be equally
successful.”
Commenting on the agreements,
KKR's Co-Founder and Co-CEO
Henry Kravis said: “This is our
first direct investment in
Southern Eastern Europe. It adds
to our investments in more than
40 European companies across 12
countries and it is a sign of
our confidence in the prospects
of SBB/Telemach Group, led by
Dragan and his talented team,
and in the region.”
